Voya Investment Management LLC Cuts Stock Holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Voya Investment Management LLC reduced its holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 77.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,942 shares of the biopharmaceutical company's stock after selling 33,672 shares during the period. Voya Investment Management LLC's holdings in Madrigal Pharmaceuticals were worth $3,068,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analysts Set New Price Targets

MDGL has been the subject of a number of research analyst reports. Citigroup increased their target price on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a "buy" rating in a report on Thursday, February 27th. JMP Securities restated a "market outperform" rating and issued a $443.00 target price on shares of Madrigal Pharmaceuticals in a research note on Thursday, April 24th. StockNews.com upgraded shares of Madrigal Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Monday. UBS Group upped their price objective 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. Finally, Canaccord Genuity Group raised their price target on shares of Madrigal Pharmaceuticals from $394.00 to $420.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Madrigal Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus target price of $416.33.

Madrigal Pharmaceuticals Stock Down 0.6 %

NASDAQ:MDGL traded down $1.83 during trading hours on Thursday, hitting $297.00. 101,722 shares of the company's stock traded hands, compared to its average volume of 385,885. The stock's fifty day moving average price is $322.99 and its two-hundred day moving average price is $315.75. Madrigal Pharmaceuticals, Inc. has a twelve month low of $200.08 and a twelve month high of $377.46. The firm has a market cap of $6.59 billion, a P/E ratio of -11.84 and a beta of -0.91. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.93 and a current ratio of 5.98.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The biopharmaceutical company reported ($3.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.62) by $0.30. The business had revenue of $137.25 million during the quarter, compared to analyst estimates of $112.79 million. During the same quarter in the prior year, the firm posted ($7.38) earnings per share. On average, research analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

Insider Activity

In other news, Director James M. Daly sold 15,470 shares of the firm's 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 owns 1,912 shares in the company, valued at $664,324.40. This trade represents a 89.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Robert E. Waltermire sold 14,113 shares of the business's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $341.32, for a total value 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. The trade was a 79.10 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,810 shares of company stock valued at $10,610,594. 22.80% of the stock is currently owned by corporate insiders.

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.