Rafferty Asset Management LLC Sells 11,501 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Rafferty Asset Management LLC reduced its stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 25.8% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 33,123 shares of the biopharmaceutical company's stock after selling 11,501 shares during the quarter. Rafferty Asset Management LLC owned 0.15% of Madrigal Pharmaceuticals worth $10,221,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. FMR LLC raised its position in Madrigal Pharmaceuticals by 10.8% in the fourth quarter. FMR LLC now owns 867,850 shares of the biopharmaceutical company's stock worth $267,792,000 after acquiring an additional 84,305 shares during the period. Geode Capital Management LLC raised its holdings in shares of Madrigal Pharmaceuticals by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 410,578 shares of the biopharmaceutical company's stock worth $126,719,000 after purchasing an additional 4,923 shares during the period. William Blair Investment Management LLC bought a new stake in shares of Madrigal Pharmaceuticals in the 4th quarter worth approximately $114,717,000. Rock Springs Capital Management LP lifted its stake in Madrigal Pharmaceuticals by 0.8% in the fourth quarter. Rock Springs Capital Management LP now owns 265,212 shares of the biopharmaceutical company's stock valued at $81,836,000 after purchasing an additional 2,150 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in Madrigal Pharmaceuticals by 1.4% in the fourth quarter. Bank of America Corp DE now owns 217,828 shares of the biopharmaceutical company's stock valued at $67,215,000 after purchasing an additional 2,940 shares during the last quarter. Institutional investors own 98.50% of the company's stock.

Insider Buying and Selling at Madrigal Pharmaceuticals

In related news, Director James M. Daly sold 15,470 shares of Madrigal Pharmaceuticals stock in a transaction on Thursday, February 27th. The stock was 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 owns 1,912 shares of the company's stock, valued at approximately $664,324.40. This trade represents a 89.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Robert E. Waltermire sold 1,227 shares of the business's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $341.07, for a total value of $418,492.89. Following the transaction, the vice president now owns 3,728 shares of the company's stock, valued at approximately $1,271,508.96. The trade was a 24.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,810 shares of company stock valued at $10,610,594 in the last three months. Company insiders own 21.50% of the company's stock.

Wall Street Analyst Weigh In

MDGL has been the topic of several research reports. Canaccord Genuity Group boosted their target price on Madrigal Pharmaceuticals from $394.00 to $420.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Wall Street Zen raised Madrigal Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Monday, May 5th. B. Riley restated 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, May 2nd. HC Wainwright upped their price objective 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. Finally, 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 research report on Friday, May 2nd. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $416.33.

Madrigal Pharmaceuticals Price Performance

MDGL stock traded down $1.42 during mid-day trading on Thursday, reaching $275.83. 153,809 shares of the company traded hands, compared to its average volume of 385,614. The company has a fifty day moving average price of $315.22 and a 200-day moving average price of $320.29. Madrigal Pharmaceuticals, Inc. has a 52-week low of $200.63 and a 52-week high of $377.46. The company has a market capitalization of $6.12 billion, a P/E ratio of -11.03 and a beta of -0.91. 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 (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 the consensus estimate of ($3.62) by $0.30. The firm 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. As a group, analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share 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.