Mariner LLC Sells 1,252 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Mariner LLC reduced its holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 41.8% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,746 shares of the biopharmaceutical company's stock after selling 1,252 shares during the quarter. Mariner LLC's holdings in Madrigal Pharmaceuticals were worth $539,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Newbridge Financial Services Group Inc. purchased a new stake in shares of Madrigal Pharmaceuticals in the 4th quarter valued at $1,297,000. Franklin Resources Inc. boosted its position in Madrigal Pharmaceuticals by 340.1% during the fourth quarter. Franklin Resources Inc. now owns 6,087 shares of the biopharmaceutical company's stock valued at $1,878,000 after buying an additional 4,704 shares during the period. Raymond James Financial Inc. bought a new position in shares of Madrigal Pharmaceuticals during the fourth quarter valued at about $16,615,000. Barclays PLC increased its holdings in shares of Madrigal Pharmaceuticals by 159.9% in the third quarter. Barclays PLC now owns 40,279 shares of the biopharmaceutical company's stock worth $8,549,000 after buying an additional 24,783 shares during the period. Finally, Prudential Financial Inc. increased its holdings in shares of Madrigal Pharmaceuticals by 166.2% in the fourth quarter. Prudential Financial Inc. now owns 3,655 shares of the biopharmaceutical company's stock worth $1,128,000 after buying an additional 2,282 shares during the period. 98.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Robert E. Waltermire sold 1,227 shares of Madrigal Pharmaceuticals 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 approximately $1,271,508.96. The trade was a 24.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James M. Daly sold 15,470 shares of the firm's stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $347.45, for a total value of $5,375,051.50. Following the sale, the director now directly owns 1,912 shares in the company, valued at approximately $664,324.40. This represents a 89.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,810 shares of company stock valued at $10,610,594 in the last quarter. 22.80% of the stock is currently owned by insiders.

Madrigal Pharmaceuticals Stock Performance

Shares of Madrigal Pharmaceuticals stock traded down $12.22 during trading on Friday, hitting $315.48. 592,271 shares of the company's stock traded hands, compared to its average volume of 389,223. The business has a 50-day simple moving average of $325.65 and a 200-day simple moving average of $314.64. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.98 and a quick ratio of 5.93. The stock has a market capitalization of $7.00 billion, a P/E ratio of -12.58 and a beta of -0.91. Madrigal Pharmaceuticals, Inc. has a 1 year low of $200.08 and a 1 year high of $377.46.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last posted its earnings results on Thursday, May 1st. The biopharmaceutical company reported ($3.32) EPS for the quarter, topping analysts' consensus estimates of ($3.62) by $0.30. The company had revenue of $137.25 million during the quarter, compared to the consensus estimate of $112.79 million. During the same period last year, the firm posted ($7.38) EPS. As a group, analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MDGL. B. Riley reiterated a "buy" rating and set a $460.00 price target (up from $422.00) on shares of Madrigal Pharmaceuticals in a report on Friday. Citigroup increased their price target on shares of Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. JMP Securities restated a "market outperform" rating and set a $443.00 price target on shares of Madrigal Pharmaceuticals in a research report on Thursday, April 24th. UBS Group increased their price target on shares of Madrigal Pharmaceuticals from $441.00 to $458.00 and gave the stock a "buy" rating in a research note on Friday. Finally, HC Wainwright lifted their target price 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. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $416.33.

About Madrigal Pharmaceuticals

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.