Schonfeld Strategic Advisors LLC Has $1.71 Million Stock Holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Schonfeld Strategic Advisors LLC decreased its holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 88.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 5,525 shares of the biopharmaceutical company's stock after selling 40,569 shares during the period. Schonfeld Strategic Advisors LLC's holdings in Madrigal Pharmaceuticals were worth $1,705,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Northern Trust Corp grew its position in Madrigal Pharmaceuticals by 5.5% in the fourth quarter. Northern Trust Corp now owns 155,883 shares of the biopharmaceutical company's stock valued at $48,101,000 after acquiring an additional 8,111 shares during the last quarter. Tudor Investment Corp ET AL increased its position in Madrigal Pharmaceuticals by 837.6% during the 4th quarter. Tudor Investment Corp ET AL now owns 10,327 shares of the biopharmaceutical company's stock worth $3,187,000 after purchasing an additional 11,727 shares in the last quarter. Tri Locum Partners LP lifted its stake in Madrigal Pharmaceuticals by 9.7% in the 4th quarter. Tri Locum Partners LP now owns 47,472 shares of the biopharmaceutical company's stock valued at $14,648,000 after purchasing an additional 4,185 shares during the last quarter. Aquatic Capital Management LLC acquired a new stake in Madrigal Pharmaceuticals in the fourth quarter valued at approximately $4,638,000. Finally, Lord Abbett & CO. LLC acquired a new stake in Madrigal Pharmaceuticals in the fourth quarter valued at approximately $15,095,000. Institutional investors and hedge funds own 98.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MDGL. B. Riley reiterated a "buy" rating and issued a $460.00 price target (up from $422.00) on shares of Madrigal Pharmaceuticals in a research note on Friday. StockNews.com upgraded shares of Madrigal Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Monday. HC Wainwright upped their price target on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. Citigroup lifted their target price on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. 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. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $416.33.

Madrigal Pharmaceuticals Stock Performance

NASDAQ:MDGL opened at $306.38 on Tuesday. The firm has a market capitalization of $6.80 billion, a P/E ratio of -12.22 and a beta of -0.91. Madrigal Pharmaceuticals, Inc. has a twelve month low of $200.08 and a twelve month high of $377.46. The company has a fifty day moving average of $324.66 and a 200-day moving average of $316.01. The company has a quick ratio of 5.93, a current ratio of 5.98 and a debt-to-equity ratio of 0.15.

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

Insider Buying and Selling

In other news, VP Robert E. Waltermire sold 14,113 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $341.32, for a total transaction of $4,817,049.16. Following the transaction, the vice president now directly owns 3,728 shares of the company's stock, valued at $1,272,440.96. This represents a 79.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director James M. Daly sold 15,470 shares of Madrigal Pharmaceuticals stock in a transaction 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 of the company's stock, valued at approximately $664,324.40. The trade was a 89.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,810 shares of company stock valued at $10,610,594. 22.80% of the stock is owned by company insiders.

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.

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