Northern Trust Corp Grows Position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Northern Trust Corp lifted its stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 5.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 155,883 shares of the biopharmaceutical company's stock after purchasing an additional 8,111 shares during the quarter. Northern Trust Corp owned about 0.71% of Madrigal Pharmaceuticals worth $48,101,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Newbridge Financial Services Group Inc. bought a new position in Madrigal Pharmaceuticals during the fourth quarter valued at $1,297,000. Franklin Resources Inc. grew its holdings in Madrigal Pharmaceuticals by 340.1% during the 4th quarter. Franklin Resources Inc. now owns 6,087 shares of the biopharmaceutical company's stock valued at $1,878,000 after purchasing an additional 4,704 shares during the last quarter. Raymond James Financial Inc. bought a new position in Madrigal Pharmaceuticals during the 4th quarter valued at about $16,615,000. Barclays PLC raised its position in Madrigal Pharmaceuticals by 159.9% in the 3rd quarter. Barclays PLC now owns 40,279 shares of the biopharmaceutical company's stock worth $8,549,000 after purchasing an additional 24,783 shares during the period. Finally, Prudential Financial Inc. lifted its stake in 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 purchasing an additional 2,282 shares during the last quarter. Institutional investors own 98.50% of the company's stock.

Insider Activity

In other Madrigal Pharmaceuticals news, Director James M. Daly sold 15,470 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $347.45, for a total transaction of $5,375,051.50. Following the completion of the sale, the director now directly owns 1,912 shares in the company, valued at approximately $664,324.40. The trade was a 89.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Robert E. Waltermire sold 1,227 shares of the company'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 completion of the sale, the vice president now directly owns 3,728 shares in the company, valued at $1,271,508.96. This trade represents a 24.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,810 shares of company stock valued at $10,610,594 over the last ninety days. 22.80% of the stock is currently owned by insiders.

Madrigal Pharmaceuticals Stock Down 1.6 %

NASDAQ MDGL traded down $4.93 during trading on Friday, hitting $294.64. The company's stock had a trading volume of 305,937 shares, compared to its average volume of 386,062. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $200.63 and a fifty-two week high of $377.46. 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 company has a market cap of $6.54 billion, a PE ratio of -11.75 and a beta of -0.91. The business's 50 day simple moving average is $322.18 and its 200-day simple moving average is $317.80.

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 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 analysts' expectations of $112.79 million. During the same period in the prior year, the firm posted ($7.38) EPS. On average, equities analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on MDGL shares. StockNews.com upgraded shares of Madrigal Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Monday, May 5th. Canaccord Genuity Group raised their target price on shares of Madrigal Pharmaceuticals from $394.00 to $420.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. JMP Securities reiterated a "market outperform" rating and issued a $443.00 price target on shares of Madrigal Pharmaceuticals in a report on Thursday, April 24th. UBS Group increased 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. Finally, B. Riley reiterated a "buy" rating and issued a $460.00 price target (up from $422.00) on shares of Madrigal Pharmaceuticals in a report on Friday, May 2nd. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Madrigal Pharmaceuticals has an average rating of "Moderate Buy" and an average target price of $416.33.

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.