Victory Capital Management Inc. Sells 2,245 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Victory Capital Management Inc. decreased its holdings in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 3.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 68,390 shares of the biopharmaceutical company's stock after selling 2,245 shares during the period. Victory Capital Management Inc. owned about 0.31% of Madrigal Pharmaceuticals worth $22,653,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of the company. Farther Finance Advisors LLC raised its position in Madrigal Pharmaceuticals by 825.0% in the 1st quarter. Farther Finance Advisors LLC now owns 111 shares of the biopharmaceutical company's stock worth $36,000 after purchasing an additional 99 shares during the period. GAMMA Investing LLC boosted its stake in shares of Madrigal Pharmaceuticals by 131.4% during the first quarter. GAMMA Investing LLC now owns 118 shares of the biopharmaceutical company's stock valued at $39,000 after purchasing an additional 67 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in shares of Madrigal Pharmaceuticals by 38.9% during the first quarter. First Horizon Advisors Inc. now owns 157 shares of the biopharmaceutical company's stock valued at $52,000 after purchasing an additional 44 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of Madrigal Pharmaceuticals by 42.7% during the first quarter. Parallel Advisors LLC now owns 284 shares of the biopharmaceutical company's stock valued at $94,000 after purchasing an additional 85 shares in the last quarter. Finally, Kozak & Associates Inc. bought a new position in shares of Madrigal Pharmaceuticals during the first quarter valued at approximately $104,000. Institutional investors own 98.50% of the company's stock.

Wall Street Analysts Forecast Growth

MDGL has been the subject of a number of research reports. JMP Securities restated a "market outperform" rating and set a $443.00 target price on shares of Madrigal Pharmaceuticals in a research report on Thursday, April 24th. Wall Street Zen upgraded shares of Madrigal Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Monday, May 5th. Canaccord Genuity Group boosted their target price on shares of Madrigal Pharmaceuticals from $394.00 to $420.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. UBS Group lifted their price objective 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. Finally, B. Riley reissued a "buy" rating and set a $460.00 target price (up from $422.00) on shares of Madrigal Pharmaceuticals in a research note on Friday, May 2nd. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, Madrigal Pharmaceuticals currently has an average rating of "Moderate Buy" and an average target price of $420.63.

Insider Transactions at Madrigal Pharmaceuticals

In related news, Director Paul A. Friedman sold 2,700 shares of the stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of $350.48, for a total value of $946,296.00. Following the transaction, the director owned 187,164 shares in the company, valued at approximately $65,597,238.72. This represents a 1.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Rebecca Taub sold 2,657 shares of the stock in a transaction that occurred on Thursday, July 17th. The shares were sold at an average price of $350.41, for a total value of $931,039.37. Following the transaction, the director owned 461,044 shares in the company, valued at approximately $161,554,428.04. This trade represents a 0.57% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 57,977 shares of company stock valued at $20,476,927 over the last three months. 21.50% of the stock is owned by corporate insiders.

Madrigal Pharmaceuticals Stock Down 1.0%

MDGL stock opened at $330.94 on Tuesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 5.91 and a quick ratio of 5.58. Madrigal Pharmaceuticals, Inc. has a 1-year low of $200.63 and a 1-year high of $377.46. The firm has a fifty day moving average price of $292.49 and a two-hundred day moving average price of $312.53. The firm has a market cap of $7.35 billion, a price-to-earnings ratio of -18.33 and a beta of -1.05.

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

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.

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