Rheos Capital Works Inc. lowered its stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 23.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,215 shares of the biopharmaceutical company's stock after selling 13,000 shares during the quarter. Rheos Capital Works Inc. owned about 0.20% of Madrigal Pharmaceuticals worth $14,314,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Pitcairn Co. increased its holdings in Madrigal Pharmaceuticals by 3.2% in the 4th quarter. Pitcairn Co. now owns 1,060 shares of the biopharmaceutical company's stock valued at $327,000 after buying an additional 33 shares during the period. Sanctuary Advisors LLC increased its holdings in Madrigal Pharmaceuticals by 5.2% in the 4th quarter. Sanctuary Advisors LLC now owns 1,247 shares of the biopharmaceutical company's stock valued at $422,000 after buying an additional 62 shares during the period. Centaurus Financial Inc. increased its holdings in Madrigal Pharmaceuticals by 12.9% in the 4th quarter. Centaurus Financial Inc. now owns 690 shares of the biopharmaceutical company's stock valued at $213,000 after buying an additional 79 shares during the period. Parallel Advisors LLC increased its holdings in Madrigal Pharmaceuticals by 42.7% in the 1st quarter. Parallel Advisors LLC now owns 284 shares of the biopharmaceutical company's stock valued at $94,000 after buying an additional 85 shares during the period. Finally, Arizona State Retirement System increased its holdings in Madrigal Pharmaceuticals by 2.5% in the 4th quarter. Arizona State Retirement System now owns 3,774 shares of the biopharmaceutical company's stock valued at $1,165,000 after buying an additional 91 shares during the period. Institutional investors own 98.50% of the company's stock.
Madrigal Pharmaceuticals Price Performance
Shares of MDGL traded up $12.02 during trading hours on Wednesday, hitting $294.34. The stock had a trading volume of 417,989 shares, compared to its average volume of 364,251. The company's fifty day moving average is $297.71 and its two-hundred day moving average is $315.02. The stock has a market capitalization of $6.54 billion, a price-to-earnings ratio of -11.74 and a beta of -1.08. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.98 and a quick ratio of 5.93. Madrigal Pharmaceuticals, Inc. has a 52 week low of $200.63 and a 52 week high of $377.46.
Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The biopharmaceutical company reported ($3.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.62) by $0.30. The company had revenue of $137.25 million for the quarter, compared to analyst estimates of $112.79 million. During the same quarter last year, the company earned ($7.38) EPS. On average, analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current year.
Wall Street Analysts Forecast Growth
MDGL has been the topic of several analyst reports. Citigroup boosted their price target on shares of Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a "buy" rating in a report on Thursday, February 27th. UBS Group boosted their price target on shares of Madrigal Pharmaceuticals from $441.00 to $458.00 and gave the company a "buy" rating in a report on Friday, May 2nd. HC Wainwright boosted their price target on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the company a "buy" rating in a report on Thursday, February 27th. 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, JMP Securities reaffirmed a "market outperform" rating and issued a $443.00 target price on shares of Madrigal Pharmaceuticals in a report on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Madrigal Pharmaceuticals has a consensus rating of "Moderate Buy" and an average price target of $416.33.
View Our Latest Analysis on MDGL
About Madrigal Pharmaceuticals
(
Free Report)
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.
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