New York State Common Retirement Fund Has $12.59 Million Holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

New York State Common Retirement Fund cut its holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 12.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,815 shares of the biopharmaceutical company’s stock after selling 5,630 shares during the period. New York State Common Retirement Fund owned approximately 0.19% of Madrigal Pharmaceuticals worth $12,594,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Braidwell LP acquired a new stake in shares of Madrigal Pharmaceuticals in the third quarter worth about $39,010,000. Eagle Asset Management Inc. bought a new position in shares of Madrigal Pharmaceuticals in the 3rd quarter valued at approximately $6,875,000. Intech Investment Management LLC acquired a new stake in Madrigal Pharmaceuticals in the 3rd quarter worth approximately $1,280,000. Vestal Point Capital LP bought a new stake in Madrigal Pharmaceuticals during the third quarter worth approximately $6,367,000. Finally, Blueshift Asset Management LLC acquired a new position in Madrigal Pharmaceuticals during the third quarter valued at approximately $393,000. 98.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Madrigal Pharmaceuticals

In other news, CMO Rebecca Taub sold 648 shares of Madrigal Pharmaceuticals stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $335.24, for a total transaction of $217,235.52. Following the sale, the chief marketing officer now directly owns 456,662 shares in the company, valued at approximately $153,091,368.88. The trade was a 0.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Robert E. Waltermire sold 442 shares of the company’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $273.41, for a total transaction of $120,847.22. Following the completion of the sale, the vice president now directly owns 5,058 shares in the company, valued at approximately $1,382,907.78. The trade was a 8.04 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,690 shares of company stock worth $2,692,601. 22.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on MDGL shares. B. Riley boosted their price objective on shares of Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. HC Wainwright lifted their target price on shares of Madrigal Pharmaceuticals from $390.00 to $400.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. JMP Securities reissued a “market outperform” rating and set a $427.00 target price on shares of Madrigal Pharmaceuticals in a research report on Friday, January 10th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, November 20th. Finally, UBS Group boosted their price objective on Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $351.67.

Madrigal Pharmaceuticals Price Performance

Shares of MDGL stock opened at $322.14 on Tuesday. Madrigal Pharmaceuticals, Inc. has a 12 month low of $189.00 and a 12 month high of $368.29. The company has a market capitalization of $7.03 billion, a P/E ratio of -12.84 and a beta of -0.38. The stock has a 50 day moving average of $320.09 and a two-hundred day moving average of $282.67. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15.

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.