Gilder Gagnon Howe & Co. LLC Trims Stock Holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Gilder Gagnon Howe & Co. LLC reduced its stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 5.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 36,168 shares of the biopharmaceutical company's stock after selling 1,965 shares during the quarter. Gilder Gagnon Howe & Co. LLC owned 0.17% of Madrigal Pharmaceuticals worth $11,160,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of MDGL. Kohmann Bosshard Financial Services LLC acquired a new stake in Madrigal Pharmaceuticals during the fourth quarter worth about $70,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Madrigal Pharmaceuticals during the 4th quarter valued at about $164,000. KBC Group NV increased its position in Madrigal Pharmaceuticals by 73.5% during the fourth quarter. KBC Group NV now owns 609 shares of the biopharmaceutical company's stock worth $188,000 after acquiring an additional 258 shares during the period. Jump Financial LLC bought a new position in Madrigal Pharmaceuticals during the fourth quarter worth about $210,000. Finally, Farringdon Capital Ltd. acquired a new position in Madrigal Pharmaceuticals in the fourth quarter worth $215,000. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director James M. Daly sold 15,470 shares of the stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $347.45, for a total value of $5,375,051.50. Following the completion of the sale, the director now owns 1,912 shares of the company's stock, valued at approximately $664,324.40. This represents a 89.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Robert E. Waltermire sold 1,227 shares of the business's stock in a transaction on Friday, February 28th. The shares were sold at an average price of $341.07, for a total transaction of $418,492.89. Following the transaction, the vice president now owns 3,728 shares in the company, valued at $1,271,508.96. The trade was a 24.76 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,810 shares of company stock worth $10,610,594. Insiders own 22.80% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. HC Wainwright increased their price objective on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. B. Riley reaffirmed a "buy" rating and issued a $460.00 price objective (up from $422.00) on shares of Madrigal Pharmaceuticals in a research note on Friday. Citigroup lifted their target price on shares of Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. 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 report on Friday. Finally, JMP Securities restated a "market outperform" rating and set a $443.00 price objective on shares of Madrigal Pharmaceuticals in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Madrigal Pharmaceuticals has an average rating of "Moderate Buy" and an average price target of $414.44.

Madrigal Pharmaceuticals Stock Performance

Shares of NASDAQ:MDGL traded down $9.37 during trading on Friday, hitting $318.33. 173,175 shares of the company traded hands, compared to its average volume of 388,088. Madrigal Pharmaceuticals, Inc. has a one year low of $200.08 and a one year high of $377.46. The company has a quick ratio of 5.93, a current ratio of 5.98 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $7.03 billion, a price-to-earnings ratio of -12.79 and a beta of -0.69. The business's fifty day moving average is $325.53 and its 200-day moving average is $313.28.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The biopharmaceutical company reported ($3.32) EPS for the quarter, beating analysts' consensus estimates 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 period in the prior year, the company posted ($7.38) EPS. As a group, equities analysts predict that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

Madrigal Pharmaceuticals 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.