Hennion & Walsh Asset Management Inc. Sells 9,013 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Hennion & Walsh Asset Management Inc. cut its holdings in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 47.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,904 shares of the biopharmaceutical company’s stock after selling 9,013 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Madrigal Pharmaceuticals were worth $3,056,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MDGL. Commonwealth Equity Services LLC raised its holdings in Madrigal Pharmaceuticals by 116.8% in the 2nd quarter. Commonwealth Equity Services LLC now owns 2,068 shares of the biopharmaceutical company’s stock valued at $579,000 after acquiring an additional 1,114 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Madrigal Pharmaceuticals by 5.8% during the 2nd quarter. Victory Capital Management Inc. now owns 2,252 shares of the biopharmaceutical company’s stock worth $631,000 after purchasing an additional 124 shares in the last quarter. Quest Partners LLC increased its position in shares of Madrigal Pharmaceuticals by 5,225.0% in the second quarter. Quest Partners LLC now owns 213 shares of the biopharmaceutical company’s stock worth $60,000 after purchasing an additional 209 shares during the period. Oppenheimer Asset Management Inc. acquired a new position in Madrigal Pharmaceuticals in the second quarter valued at about $414,000. Finally, Envestnet Asset Management Inc. lifted its position in Madrigal Pharmaceuticals by 198.8% during the second quarter. Envestnet Asset Management Inc. now owns 14,454 shares of the biopharmaceutical company’s stock worth $4,049,000 after purchasing an additional 9,616 shares during the period. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Madrigal Pharmaceuticals

In related news, Director Richard S. Levy sold 5,000 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $300.94, for a total value of $1,504,700.00. Following the sale, the director now owns 11,012 shares of the company’s stock, valued at $3,313,951.28. The trade was a 31.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Fred B. Craves sold 3,400 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $350.30, for a total value of $1,191,020.00. Following the completion of the sale, the director now owns 14,600 shares of the company’s stock, valued at $5,114,380. The trade was a 18.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,000 shares of company stock worth $3,830,836 in the last quarter. 22.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on MDGL shares. UBS Group raised their target price on shares of Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a “buy” rating in a report on Friday, November 1st. HC Wainwright lifted their price objective on shares of Madrigal Pharmaceuticals from $390.00 to $400.00 and gave the company a “buy” rating in a research note on Tuesday. JMP Securities restated a “market outperform” rating and set a $427.00 price objective 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 report on Wednesday, November 20th. Finally, StockNews.com raised Madrigal Pharmaceuticals to a “sell” rating in a report on Saturday, October 12th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $351.67.

Madrigal Pharmaceuticals Stock Performance

NASDAQ MDGL opened at $272.79 on Friday. Madrigal Pharmaceuticals, Inc. has a twelve month low of $168.25 and a twelve month high of $368.29. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.98 and a quick ratio of 5.93. The business’s fifty day moving average is $315.33 and its 200 day moving average is $272.58.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) EPS for the quarter, beating the consensus estimate of ($6.94) by $2.02. The firm 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 business posted ($5.34) earnings per share. Equities analysts predict 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.