Summit Investment Advisors Inc. Has $580,000 Stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Summit Investment Advisors Inc. grew its stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 5.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 1,881 shares of the biopharmaceutical company’s stock after acquiring an additional 104 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Madrigal Pharmaceuticals were worth $580,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Kohmann Bosshard Financial Services LLC acquired a new stake in Madrigal Pharmaceuticals in the fourth quarter valued at about $70,000. KBC Group NV increased its position in Madrigal Pharmaceuticals by 73.5% during the 4th quarter. KBC Group NV now owns 609 shares of the biopharmaceutical company’s stock valued at $188,000 after purchasing an additional 258 shares during the period. Miracle Mile Advisors LLC acquired a new stake in shares of Madrigal Pharmaceuticals during the fourth quarter worth $216,000. D.A. Davidson & CO. bought a new position in shares of Madrigal Pharmaceuticals in the 4th quarter worth about $221,000. Finally, Atria Investments Inc bought a new stake in Madrigal Pharmaceuticals in the fourth quarter worth approximately $222,000. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on MDGL shares. B. Riley raised shares of Madrigal Pharmaceuticals from a “hold” rating to a “strong-buy” rating and lifted their price target for the company from $236.00 to $422.00 in a research note on Thursday, February 27th. Citigroup increased their price target on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. HC Wainwright lifted their target price on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Finally, JMP Securities reiterated a “market outperform” rating and set a $427.00 target price on shares of Madrigal Pharmaceuticals in a research note on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Madrigal Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $378.44.

Madrigal Pharmaceuticals Price Performance

Shares of NASDAQ MDGL opened at $301.66 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.93 and a current ratio of 5.98. The stock has a market cap of $6.66 billion, a PE ratio of -12.03 and a beta of -0.69. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $189.00 and a fifty-two week high of $377.46. The stock has a fifty day moving average of $328.97 and a 200-day moving average of $306.52.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings results on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) EPS for the quarter, beating the consensus estimate of ($4.32) by $1.61. The firm had revenue of $103.32 million during the quarter, compared to the consensus estimate of $97.81 million. Equities research analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current year.

Insider Activity at Madrigal Pharmaceuticals

In other news, VP Robert E. Waltermire sold 103 shares of Madrigal Pharmaceuticals stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $335.24, for a total value of $34,529.72. Following the transaction, the vice president now owns 4,955 shares in the company, valued at approximately $1,661,114.20. The trade was a 2.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Carole Huntsman sold 347 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $335.24, for a total value of $116,328.28. Following the completion of the transaction, the insider now directly owns 10,438 shares in the company, valued at $3,499,235.12. This trade represents a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,492 shares of company stock valued at $11,509,707 over the last three months. 22.80% of the stock is owned by corporate insiders.

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.