Blueshift Asset Management LLC Makes New Investment in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Blueshift Asset Management LLC acquired a new position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) during the 3rd quarter, Holdings Channel.com reports. The fund acquired 1,852 shares of the biopharmaceutical company’s stock, valued at approximately $393,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MDGL. Comerica Bank grew its position in Madrigal Pharmaceuticals by 615.4% during the 1st quarter. Comerica Bank now owns 372 shares of the biopharmaceutical company’s stock valued at $99,000 after purchasing an additional 320 shares during the last quarter. Cetera Advisors LLC purchased a new position in Madrigal Pharmaceuticals in the 1st quarter worth approximately $281,000. Envestnet Portfolio Solutions Inc. bought a new position in shares of Madrigal Pharmaceuticals during the second quarter valued at $252,000. First Horizon Advisors Inc. grew its position in Madrigal Pharmaceuticals by 1,633.3% in the 2nd quarter. First Horizon Advisors Inc. now owns 104 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 98 shares during the period. Finally, Calamos Advisors LLC increased its position in Madrigal Pharmaceuticals by 13.8% during the second quarter. Calamos Advisors LLC now owns 4,112 shares of the biopharmaceutical company’s stock valued at $1,152,000 after acquiring an additional 499 shares during the last quarter. Institutional investors own 98.50% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on MDGL shares. UBS Group boosted their price target on Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a “buy” rating in a report on Friday, November 1st. B. Riley lifted 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. HC Wainwright reaffirmed a “buy” rating and issued a $390.00 price target on shares of Madrigal Pharmaceuticals in a report on Tuesday, October 22nd. Citigroup cut their price objective on shares of Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Finally, Evercore ISI decreased their price target on Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. 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 stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $347.33.

Insider Activity at Madrigal Pharmaceuticals

In other news, Director Richard S. Levy sold 5,000 shares of the company’s stock in a transaction dated 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 $3,313,951.28. This represents a 31.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Fred B. Craves sold 3,400 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $350.30, for a total transaction of $1,191,020.00. Following the completion of the transaction, the director now directly 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 14,763 shares of company stock valued at $4,247,210 over the last 90 days. Insiders own 22.80% of the company’s stock.

Madrigal Pharmaceuticals Price Performance

Shares of NASDAQ:MDGL opened at $331.45 on Friday. 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 $168.25 and a 12-month high of $368.29. The business’s fifty day simple moving average is $260.42 and its 200-day simple moving average is $257.90.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced 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 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 firm posted ($5.34) earnings per share. On average, analysts expect 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.