Shikiar Asset Management Inc. Reduces Stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Shikiar Asset Management Inc. lessened its position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 7.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,000 shares of the biopharmaceutical company’s stock after selling 400 shares during the quarter. Shikiar Asset Management Inc.’s holdings in Madrigal Pharmaceuticals were worth $1,543,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Nisa Investment Advisors LLC grew its position in Madrigal Pharmaceuticals by 47.6% during the third quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock valued at $45,000 after buying an additional 68 shares during the period. Quest Partners LLC grew its holdings in Madrigal Pharmaceuticals by 172.8% during the third quarter. Quest Partners LLC now owns 581 shares of the biopharmaceutical company’s stock valued at $123,000 after purchasing an additional 368 shares during the period. Centaurus Financial Inc. purchased a new stake in Madrigal Pharmaceuticals in the second quarter worth about $163,000. Amalgamated Bank increased its position in Madrigal Pharmaceuticals by 20.2% in the second quarter. Amalgamated Bank now owns 607 shares of the biopharmaceutical company’s stock worth $170,000 after buying an additional 102 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC bought a new position in shares of Madrigal Pharmaceuticals in the second quarter worth about $204,000. Institutional investors own 98.50% of the company’s stock.

Insider Buying and Selling

In other news, VP Robert E. Waltermire sold 442 shares of the stock in a transaction on Friday, January 17th. The shares were sold at an average price of $273.41, for a total value of $120,847.22. Following the sale, the vice president now owns 5,058 shares of the company’s stock, valued at approximately $1,382,907.78. This represents a 8.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CMO Rebecca Taub sold 1,689 shares of Madrigal Pharmaceuticals stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $273.41, for a total transaction of $461,789.49. Following the transaction, the chief marketing officer now directly owns 457,310 shares of the company’s stock, valued at approximately $125,033,127.10. This represents a 0.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,408 shares of company stock worth $4,489,207. Corporate insiders own 22.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. StockNews.com upgraded Madrigal Pharmaceuticals to a “sell” rating in a research note on Saturday, October 12th. Oppenheimer reduced their price objective on shares of Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. UBS Group lifted their target price on shares of Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a “buy” rating in a research note on Friday, November 1st. HC Wainwright increased their price target on Madrigal Pharmaceuticals from $390.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, JMP Securities restated a “market outperform” rating and issued a $427.00 price objective on shares of Madrigal Pharmaceuticals in a research report on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Madrigal Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $351.67.

Madrigal Pharmaceuticals Trading Up 7.6 %

NASDAQ MDGL opened at $293.64 on Friday. Madrigal Pharmaceuticals, Inc. has a 1-year low of $168.25 and a 1-year high of $368.29. The business has a 50 day simple moving average of $314.19 and a two-hundred day simple moving average of $272.68. 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) last announced its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share for the quarter, topping the consensus estimate of ($6.94) by $2.02. The business had revenue of $62.18 million during the quarter, compared to the consensus estimate of $34.60 million. During the same quarter in the prior year, the firm posted ($5.34) EPS. On average, sell-side analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.77 earnings per share for the current fiscal year.

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.