AlpInvest Partners B.V. Has $8.98 Million Stock Holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

AlpInvest Partners B.V. reduced its stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 50.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,297 shares of the biopharmaceutical company’s stock after selling 42,298 shares during the period. Madrigal Pharmaceuticals makes up about 5.3% of AlpInvest Partners B.V.’s holdings, making the stock its 6th largest holding. AlpInvest Partners B.V. owned 0.19% of Madrigal Pharmaceuticals worth $8,976,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. First Horizon Advisors Inc. boosted its stake in Madrigal Pharmaceuticals by 1,633.3% during the second quarter. First Horizon Advisors Inc. now owns 104 shares of the biopharmaceutical company’s stock valued at $29,000 after buying an additional 98 shares during the period. Signaturefd LLC boosted its stake in Madrigal Pharmaceuticals by 36.8% during the second quarter. Signaturefd LLC now owns 145 shares of the biopharmaceutical company’s stock valued at $41,000 after buying an additional 39 shares during the period. EntryPoint Capital LLC bought a new stake in Madrigal Pharmaceuticals during the first quarter valued at $41,000. Nisa Investment Advisors LLC boosted its stake in Madrigal Pharmaceuticals by 47.6% during the third quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock valued at $45,000 after buying an additional 68 shares during the period. Finally, Quest Partners LLC boosted its stake in Madrigal Pharmaceuticals by 5,225.0% during the second quarter. Quest Partners LLC now owns 213 shares of the biopharmaceutical company’s stock valued at $60,000 after buying an additional 209 shares during the period. 98.50% of the stock is owned by institutional investors.

Insider Transactions at Madrigal Pharmaceuticals

In other news, Director Richard S. Levy sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $300.94, for a total value of $1,504,700.00. Following the sale, the director now directly owns 11,012 shares of the company’s stock, valued at $3,313,951.28. The trade was a 31.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO William John Sibold sold 6,363 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $243.83, for a total value of $1,551,490.29. Following the completion of the sale, the chief executive officer now directly owns 55,887 shares in the company, valued at approximately $13,626,927.21. This represents a 10.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 22.80% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on MDGL. HC Wainwright restated a “buy” rating and set a $390.00 price target on shares of Madrigal Pharmaceuticals in a research report on Tuesday, October 22nd. UBS Group lifted their price objective on Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Evercore ISI decreased their price objective on Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Oppenheimer decreased their price objective on Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Finally, B. Riley lifted their price objective on Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Madrigal Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $347.33.

Madrigal Pharmaceuticals Trading Down 0.2 %

NASDAQ:MDGL traded down $0.77 during mid-day trading on Wednesday, reaching $313.40. 8,852 shares of the company’s stock traded hands, compared to its average volume of 442,360. Madrigal Pharmaceuticals, Inc. has a 12-month low of $168.25 and a 12-month high of $368.29. The firm has a market capitalization of $6.84 billion, a price-to-earnings ratio of -12.53 and a beta of -0.46. 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 company has a 50 day moving average price of $246.71 and a 200-day moving average price of $252.63.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share for the quarter, beating the consensus estimate of ($6.94) by $2.02. The firm had revenue of $62.18 million for the quarter, compared to the consensus estimate of $34.60 million. During the same period in the previous year, the firm posted ($5.34) earnings per share. On average, sell-side analysts predict that Madrigal Pharmaceuticals, Inc. will post -24.08 earnings per share for the current year.

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.