Dana Investment Advisors Inc. Grows Stock Position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Dana Investment Advisors Inc. boosted its stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 15.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 4,151 shares of the biopharmaceutical company’s stock after buying an additional 567 shares during the period. Dana Investment Advisors Inc.’s holdings in Madrigal Pharmaceuticals were worth $1,281,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of MDGL. Erste Asset Management GmbH purchased a new stake in Madrigal Pharmaceuticals during the 3rd quarter valued at $49,749,000. Paulson & CO. Inc. raised its holdings in Madrigal Pharmaceuticals by 10.4% during the 3rd quarter. Paulson & CO. Inc. now owns 2,042,000 shares of the biopharmaceutical company’s stock valued at $433,353,000 after buying an additional 192,000 shares during the period. Braidwell LP purchased a new stake in Madrigal Pharmaceuticals during the 3rd quarter valued at $39,010,000. State Street Corp raised its holdings in Madrigal Pharmaceuticals by 19.2% during the 3rd quarter. State Street Corp now owns 887,752 shares of the biopharmaceutical company’s stock valued at $188,399,000 after buying an additional 143,038 shares during the period. Finally, RTW Investments LP raised its holdings in Madrigal Pharmaceuticals by 4.1% during the 3rd quarter. RTW Investments LP now owns 1,993,687 shares of the biopharmaceutical company’s stock valued at $423,100,000 after buying an additional 77,825 shares during the period. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Stock Performance

Shares of Madrigal Pharmaceuticals stock opened at $331.41 on Friday. The firm has a market cap of $7.32 billion, a P/E ratio of -13.21 and a beta of -0.41. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15. Madrigal Pharmaceuticals, Inc. has a 12 month low of $189.00 and a 12 month high of $377.46. The stock’s fifty day moving average price is $324.53 and its 200-day moving average price is $287.74.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings data on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) earnings per share for the quarter, beating analysts’ consensus estimates of ($4.32) by $1.61. The company had revenue of $103.32 million for the quarter, compared to the consensus estimate of $97.81 million. On average, equities research analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Citigroup increased their target price on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. JMP Securities reiterated a “market outperform” rating and issued a $427.00 target price on shares of Madrigal Pharmaceuticals in a research note on Friday, January 10th. HC Wainwright increased their target price on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. B. Riley upgraded 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. Finally, Cantor Fitzgerald reiterated a “neutral” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, November 20th. Two analysts have rated the stock with a sell rating, one has given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $375.75.

Insider Activity at Madrigal Pharmaceuticals

In related news, VP Robert E. Waltermire sold 103 shares of the firm’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $335.24, for a total transaction of $34,529.72. Following the sale, the vice president now owns 4,955 shares of the company’s stock, valued at $1,661,114.20. This trade represents a 2.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Carole Huntsman sold 347 shares of the firm’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $335.24, for a total value of $116,328.28. Following the sale, the insider now directly owns 10,438 shares in the company, valued at approximately $3,499,235.12. The trade was a 3.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,900 shares of company stock valued at $12,168,079 over the last quarter. 22.80% of the stock is owned by corporate 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.