Sheaff Brock Investment Advisors LLC Takes $961,000 Position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Sheaff Brock Investment Advisors LLC bought a new stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 3,600 shares of the biopharmaceutical company’s stock, valued at approximately $961,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Rhenman & Partners Asset Management AB purchased a new stake in Madrigal Pharmaceuticals during the 4th quarter valued at approximately $5,206,000. Vanguard Group Inc. raised its stake in Madrigal Pharmaceuticals by 7.4% during the 3rd quarter. Vanguard Group Inc. now owns 1,573,338 shares of the biopharmaceutical company’s stock valued at $229,770,000 after acquiring an additional 107,816 shares during the last quarter. AMI Asset Management Corp purchased a new stake in Madrigal Pharmaceuticals during the 4th quarter valued at approximately $1,104,000. Norges Bank purchased a new stake in Madrigal Pharmaceuticals during the 4th quarter valued at approximately $33,686,000. Finally, BNP Paribas Financial Markets raised its stake in Madrigal Pharmaceuticals by 37.0% during the 4th quarter. BNP Paribas Financial Markets now owns 22,769 shares of the biopharmaceutical company’s stock valued at $5,268,000 after acquiring an additional 6,148 shares during the last quarter. 98.50% of the stock is owned by hedge funds and other institutional investors.

Madrigal Pharmaceuticals Price Performance

NASDAQ:MDGL traded up $1.03 during trading hours on Friday, reaching $284.49. 167,769 shares of the company traded hands, compared to its average volume of 488,499. The firm’s 50-day moving average is $264.94 and its 200-day moving average is $243.55. The stock has a market cap of $6.06 billion, a P/E ratio of -12.28 and a beta of -0.42. The company has a debt-to-equity ratio of 0.14, a current ratio of 9.39 and a quick ratio of 9.39. Madrigal Pharmaceuticals, Inc. has a 1-year low of $119.76 and a 1-year high of $299.98.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($7.38) EPS for the quarter, missing analysts’ consensus estimates of ($6.06) by ($1.32). During the same quarter in the previous year, the business posted ($4.23) earnings per share. Equities research analysts expect that Madrigal Pharmaceuticals, Inc. will post -27.7 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on MDGL shares. Bank of America started coverage on Madrigal Pharmaceuticals in a research note on Monday, April 22nd. They set an “underperform” rating and a $150.00 price objective for the company. Wolfe Research initiated coverage on Madrigal Pharmaceuticals in a research note on Tuesday, June 11th. They set an “outperform” rating and a $382.00 target price for the company. B. Riley cut their target price on Madrigal Pharmaceuticals from $270.00 to $200.00 and set a “neutral” rating for the company in a research note on Friday, May 10th. HC Wainwright cut their target price on Madrigal Pharmaceuticals from $425.00 to $390.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Finally, StockNews.com raised Madrigal Pharmaceuticals to a “sell” rating in a research note on Friday, July 19th. Two analysts have rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $348.50.

Insider Transactions at Madrigal Pharmaceuticals

In other news, Director Fred B. Craves sold 22,489 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $212.88, for a total transaction of $4,787,458.32. Following the sale, the director now owns 413,362 shares in the company, valued at $87,996,502.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Robert E. Waltermire sold 2,000 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $285.00, for a total value of $570,000.00. Following the transaction, the vice president now directly owns 5,500 shares of the company’s stock, valued at approximately $1,567,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Fred B. Craves sold 22,489 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $212.88, for a total value of $4,787,458.32. Following the completion of the transaction, the director now directly owns 413,362 shares in the company, valued at $87,996,502.56. The disclosure for this sale can be found here. Insiders have sold 27,425 shares of company stock worth $6,129,127 over the last quarter. 23.92% of the stock is currently owned by 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.