NEOS Investment Management LLC Decreases Stock Position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

NEOS Investment Management LLC lessened its position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 27.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,620 shares of the biopharmaceutical company’s stock after selling 1,358 shares during the period. NEOS Investment Management LLC’s holdings in Madrigal Pharmaceuticals were worth $1,117,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC purchased a new stake in Madrigal Pharmaceuticals during the fourth quarter valued at about $70,000. KBC Group NV boosted its holdings in Madrigal Pharmaceuticals by 73.5% in the 4th quarter. KBC Group NV now owns 609 shares of the biopharmaceutical company’s stock worth $188,000 after buying an additional 258 shares during the period. Miracle Mile Advisors LLC purchased a new position in Madrigal Pharmaceuticals in the 4th quarter valued at approximately $216,000. D.A. Davidson & CO. purchased a new position in Madrigal Pharmaceuticals in the 4th quarter valued at approximately $221,000. Finally, Atria Investments Inc bought a new stake in Madrigal Pharmaceuticals during the 4th quarter valued at $222,000. Institutional investors own 98.50% of the company’s stock.

Analyst Upgrades and Downgrades

MDGL has been the subject of several recent research reports. Citigroup lifted their price target on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. B. Riley upgraded shares of Madrigal Pharmaceuticals from a “hold” rating to a “strong-buy” rating and increased their target price for the stock from $236.00 to $422.00 in a research note on Thursday, February 27th. JMP Securities restated a “market outperform” rating and set a $427.00 price target on shares of Madrigal Pharmaceuticals in a research report on Friday, January 10th. Finally, HC Wainwright increased their price objective on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $378.44.

Madrigal Pharmaceuticals Stock Performance

Madrigal Pharmaceuticals stock opened at $327.87 on Friday. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $189.00 and a fifty-two week high of $377.46. The company has a market capitalization of $7.24 billion, a PE ratio of -13.07 and a beta of -0.41. The company has a 50 day moving average price of $332.93 and a 200-day moving average price of $297.12. 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 released its quarterly earnings results on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) EPS for the quarter, beating the consensus estimate of ($4.32) by $1.61. The firm had revenue of $103.32 million for the quarter, compared to analysts’ expectations of $97.81 million. As a group, equities analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current year.

Insider Activity

In other news, Director James M. Daly sold 15,470 shares of the company’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $347.45, for a total value of $5,375,051.50. Following the sale, the director now directly owns 1,912 shares of the company’s stock, valued at $664,324.40. This represents a 89.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William John Sibold sold 1,584 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $335.24, for a total transaction of $531,020.16. Following the completion of the sale, the chief executive officer now owns 54,303 shares in the company, valued at $18,204,537.72. The trade was a 2.83 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,900 shares of company stock valued at $12,168,079. Company 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.