New York State Common Retirement Fund Purchases 3,956 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

New York State Common Retirement Fund boosted its stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 9.7% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 44,771 shares of the biopharmaceutical company's stock after purchasing an additional 3,956 shares during the period. New York State Common Retirement Fund owned about 0.20% of Madrigal Pharmaceuticals worth $14,829,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MDGL. Farther Finance Advisors LLC lifted its stake in Madrigal Pharmaceuticals by 825.0% in the first quarter. Farther Finance Advisors LLC now owns 111 shares of the biopharmaceutical company's stock valued at $36,000 after acquiring an additional 99 shares during the last quarter. GAMMA Investing LLC lifted its stake in Madrigal Pharmaceuticals by 131.4% in the first quarter. GAMMA Investing LLC now owns 118 shares of the biopharmaceutical company's stock valued at $39,000 after acquiring an additional 67 shares during the last quarter. First Horizon Advisors Inc. lifted its stake in Madrigal Pharmaceuticals by 38.9% in the first quarter. First Horizon Advisors Inc. now owns 157 shares of the biopharmaceutical company's stock valued at $52,000 after acquiring an additional 44 shares during the last quarter. Parallel Advisors LLC lifted its stake in Madrigal Pharmaceuticals by 42.7% in the first quarter. Parallel Advisors LLC now owns 284 shares of the biopharmaceutical company's stock valued at $94,000 after acquiring an additional 85 shares during the last quarter. Finally, Kozak & Associates Inc. acquired a new stake in Madrigal Pharmaceuticals in the first quarter valued at approximately $104,000. 98.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on MDGL shares. Canaccord Genuity Group lifted their target price on shares of Madrigal Pharmaceuticals from $394.00 to $420.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Wall Street Zen upgraded shares of Madrigal Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Monday, May 5th. JMP Securities reissued a "market outperform" rating and issued a $443.00 price target on shares of Madrigal Pharmaceuticals in a report on Thursday, April 24th. B. Riley reaffirmed a "buy" rating and issued a $460.00 target price (up previously from $422.00) on shares of Madrigal Pharmaceuticals in a report on Friday, May 2nd. Finally, UBS Group upped their target price on shares of Madrigal Pharmaceuticals from $441.00 to $458.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $420.63.

Madrigal Pharmaceuticals Trading Down 4.2%

Madrigal Pharmaceuticals stock traded down $14.60 during trading hours on Friday, reaching $334.13. 326,009 shares of the company's stock traded hands, compared to its average volume of 361,550. The company has a debt-to-equity ratio of 0.17, a quick ratio of 5.58 and a current ratio of 5.91. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $200.63 and a fifty-two week high of $377.46. The firm has a market capitalization of $7.42 billion, a price-to-earnings ratio of -18.51 and a beta of -1.05. The firm's 50 day moving average is $291.89 and its 200-day moving average is $312.43.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last released its earnings results on Thursday, May 1st. The biopharmaceutical company reported ($3.32) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($3.62) by $0.30. Madrigal Pharmaceuticals had a negative net margin of 123.38% and a negative return on equity of 50.54%. The company had revenue of $137.25 million for the quarter, compared to the consensus estimate of $112.79 million. During the same period in the prior year, the company posted ($7.38) EPS. On average, analysts predict that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current year.

Insider Transactions at Madrigal Pharmaceuticals

In related news, Director Rebecca Taub sold 26,444 shares of the stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $353.47, for a total value of $9,347,160.68. Following the sale, the director directly owned 461,044 shares in the company, valued at $162,965,222.68. This trade represents a 5.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Paul A. Friedman sold 26,176 shares of the stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $353.47, for a total transaction of $9,252,430.72. Following the completion of the sale, the director owned 187,164 shares in the company, valued at $66,156,859.08. This represents a 12.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 57,977 shares of company stock worth $20,476,927. Corporate insiders own 21.50% of the company's stock.

Madrigal Pharmaceuticals Company Profile

Madrigal Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development of therapeutics for the treatment of non-alcoholic steatohepatitis (NASH) in the United States. Its lead product candidate is resmetirom, a liver-directed thyroid hormone receptor beta agonist, which is in Phase 3 clinical trials for treating NASH.