Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) is AlpInvest Partners B.V.’s 6th Largest Position

AlpInvest Partners B.V. reduced its position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 50.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 42,297 shares of the biopharmaceutical company’s stock after selling 42,298 shares during the period. Madrigal Pharmaceuticals comprises approximately 5.3% of AlpInvest Partners B.V.’s holdings, making the stock its 6th largest position. AlpInvest Partners B.V.’s holdings in Madrigal Pharmaceuticals were worth $8,976,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in MDGL. Oppenheimer Asset Management Inc. raised its stake in Madrigal Pharmaceuticals by 2.1% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 1,507 shares of the biopharmaceutical company’s stock valued at $320,000 after buying an additional 31 shares during the last quarter. Signaturefd LLC increased its stake in shares of Madrigal Pharmaceuticals by 36.8% in the 2nd quarter. Signaturefd LLC now owns 145 shares of the biopharmaceutical company’s stock worth $41,000 after purchasing an additional 39 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Madrigal Pharmaceuticals by 1.8% in the 3rd quarter. Victory Capital Management Inc. now owns 2,292 shares of the biopharmaceutical company’s stock worth $486,000 after purchasing an additional 40 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Madrigal Pharmaceuticals by 47.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock worth $45,000 after purchasing an additional 68 shares in the last quarter. Finally, Creative Planning increased its stake in shares of Madrigal Pharmaceuticals by 2.7% in the 3rd quarter. Creative Planning now owns 3,299 shares of the biopharmaceutical company’s stock worth $700,000 after purchasing an additional 87 shares in the last quarter. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Madrigal Pharmaceuticals Trading Down 0.2 %

Madrigal Pharmaceuticals stock traded down $0.77 during midday trading on Wednesday, reaching $313.40. The stock had a trading volume of 8,852 shares, compared to its average volume of 442,360. The company has a quick ratio of 5.93, a current ratio of 5.98 and a debt-to-equity ratio of 0.15. Madrigal Pharmaceuticals, Inc. has a 52-week low of $168.25 and a 52-week high of $368.29. The firm has a market cap of $6.84 billion, a price-to-earnings ratio of -12.53 and a beta of -0.46. The company has a fifty day moving average of $246.71 and a 200 day moving average of $252.63.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) EPS for the quarter, topping analysts’ consensus estimates of ($6.94) by $2.02. The company had revenue of $62.18 million for the quarter, compared to analysts’ expectations of $34.60 million. During the same period last year, the business posted ($5.34) earnings per share. On average, analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -24.08 earnings per share for the current fiscal year.

Insider Transactions at Madrigal Pharmaceuticals

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on MDGL shares. B. Riley upped their price objective on Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Madrigal Pharmaceuticals in a report on Wednesday. StockNews.com raised shares of Madrigal Pharmaceuticals to a “sell” rating in a report on Saturday, October 12th. Evercore ISI dropped their target price on shares of Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, Citigroup dropped their target price on shares of Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Madrigal Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $347.33.

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.