Pitcairn Co. Has $218,000 Stock Holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Pitcairn Co. trimmed its position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 5.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,027 shares of the biopharmaceutical company’s stock after selling 64 shares during the quarter. Pitcairn Co.’s holdings in Madrigal Pharmaceuticals were worth $218,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MDGL. Oppenheimer Asset Management Inc. grew its position in shares of Madrigal Pharmaceuticals by 2.1% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 1,507 shares of the biopharmaceutical company’s stock worth $320,000 after buying an additional 31 shares during the period. Signaturefd LLC grew its holdings in Madrigal Pharmaceuticals by 36.8% during the 2nd quarter. Signaturefd LLC now owns 145 shares of the biopharmaceutical company’s stock worth $41,000 after acquiring an additional 39 shares during the period. Victory Capital Management Inc. raised its position in shares of Madrigal Pharmaceuticals by 1.8% during the 3rd quarter. Victory Capital Management Inc. now owns 2,292 shares of the biopharmaceutical company’s stock valued at $486,000 after acquiring an additional 40 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Madrigal Pharmaceuticals by 47.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock valued at $45,000 after purchasing an additional 68 shares during the period. Finally, Creative Planning boosted its position in shares of Madrigal Pharmaceuticals by 2.7% in the 3rd quarter. Creative Planning now owns 3,299 shares of the biopharmaceutical company’s stock worth $700,000 after purchasing an additional 87 shares during the last quarter. 98.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Citigroup cut their target price on Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Evercore ISI lowered their target price on shares of Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. HC Wainwright reissued a “buy” rating and set a $390.00 price target on shares of Madrigal Pharmaceuticals in a research report on Tuesday, October 22nd. B. Riley upped their price objective on shares of Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Finally, StockNews.com upgraded Madrigal Pharmaceuticals to a “sell” rating in a report on Saturday, October 12th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Madrigal Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $347.33.

Madrigal Pharmaceuticals Price Performance

NASDAQ MDGL opened at $331.45 on Thursday. The firm’s 50 day moving average is $258.63 and its 200-day moving average is $257.38. The company has a quick ratio of 5.93, a current ratio of 5.98 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $7.23 billion, a PE ratio of -13.22 and a beta of -0.46. Madrigal Pharmaceuticals, Inc. has a 12-month low of $168.25 and a 12-month high of $368.29.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share (EPS) for the quarter, beating the consensus estimate of ($6.94) by $2.02. The business had revenue of $62.18 million during the quarter, compared to analyst estimates of $34.60 million. During the same quarter in the previous year, the firm posted ($5.34) earnings per share. Equities research analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -24.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO William John Sibold sold 6,363 shares of Madrigal Pharmaceuticals stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $243.83, for a total value of $1,551,490.29. Following the completion of the transaction, the chief executive officer now owns 55,887 shares of the company’s stock, valued at $13,626,927.21. This trade represents a 10.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Fred B. Craves sold 3,400 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $350.30, for a total transaction of $1,191,020.00. Following the completion of the sale, the director now directly owns 14,600 shares in the company, valued at approximately $5,114,380. The trade was a 18.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,763 shares of company stock worth $4,247,210. Corporate insiders own 22.80% of the company’s stock.

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.