AMI Asset Management Corp Buys 4,845 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

AMI Asset Management Corp raised its stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 101.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,618 shares of the biopharmaceutical company’s stock after purchasing an additional 4,845 shares during the quarter. AMI Asset Management Corp’s holdings in Madrigal Pharmaceuticals were worth $2,568,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Amalgamated Bank increased its stake in shares of Madrigal Pharmaceuticals by 2.8% in the fourth quarter. Amalgamated Bank now owns 2,119 shares of the biopharmaceutical company’s stock worth $490,000 after buying an additional 57 shares during the period. Global Retirement Partners LLC increased its stake in shares of Madrigal Pharmaceuticals by 454.5% in the fourth quarter. Global Retirement Partners LLC now owns 122 shares of the biopharmaceutical company’s stock worth $30,000 after buying an additional 100 shares during the period. Dana Investment Advisors Inc. increased its position in Madrigal Pharmaceuticals by 4.1% during the 4th quarter. Dana Investment Advisors Inc. now owns 3,171 shares of the biopharmaceutical company’s stock valued at $734,000 after purchasing an additional 124 shares during the period. Principal Financial Group Inc. increased its position in Madrigal Pharmaceuticals by 3.8% during the 4th quarter. Principal Financial Group Inc. now owns 3,875 shares of the biopharmaceutical company’s stock valued at $897,000 after purchasing an additional 142 shares during the period. Finally, Arizona State Retirement System increased its position in Madrigal Pharmaceuticals by 5.8% during the 4th quarter. Arizona State Retirement System now owns 3,032 shares of the biopharmaceutical company’s stock valued at $702,000 after purchasing an additional 167 shares during the period. 98.50% of the stock is currently owned by institutional investors.

Madrigal Pharmaceuticals Stock Performance

Madrigal Pharmaceuticals stock remained flat at $271.67 during mid-day trading on Thursday. 77,460 shares of the company were exchanged, compared to its average volume of 553,408. The company’s 50 day moving average price is $242.14 and its 200-day moving average price is $237.61. Madrigal Pharmaceuticals, Inc. has a 52 week low of $119.76 and a 52 week high of $299.98. The company has a debt-to-equity ratio of 0.14, a current ratio of 9.39 and a quick ratio of 9.39.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($7.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($6.06) by ($1.32). During the same period in the prior year, the company posted ($4.23) EPS. Sell-side analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -27.7 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on MDGL shares. Piper Sandler reissued an “overweight” rating and set a $336.00 price objective on shares of Madrigal Pharmaceuticals in a research report on Thursday, March 14th. Oppenheimer boosted their price objective on shares of Madrigal Pharmaceuticals from $320.00 to $375.00 and gave the company an “outperform” rating in a research report on Friday, March 15th. StockNews.com raised shares of Madrigal Pharmaceuticals to a “sell” rating in a research report on Wednesday, June 5th. JMP Securities reduced their price objective on shares of Madrigal Pharmaceuticals from $397.00 to $381.00 and set a “market outperform” rating on the stock in a research report on Wednesday, May 8th. Finally, Wolfe Research started coverage on shares of Madrigal Pharmaceuticals in a research report on Tuesday, June 11th. They set an “outperform” rating and a $382.00 price objective on the stock. Two investment 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’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $348.17.

Insider Buying and Selling

In related news, CMO Rebecca Taub sold 27,506 shares of the company’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $243.36, for a total value of $6,693,860.16. Following the transaction, the chief marketing officer now owns 458,999 shares in the company, valued at approximately $111,701,996.64. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CMO Rebecca Taub sold 27,506 shares of the firm’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $243.36, for a total transaction of $6,693,860.16. Following the sale, the chief marketing officer now owns 458,999 shares of the company’s stock, valued at approximately $111,701,996.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Robert E. Waltermire sold 1,900 shares of the firm’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $280.00, for a total transaction of $532,000.00. Following the sale, the vice president now directly owns 5,500 shares in the company, valued at approximately $1,540,000. The disclosure for this sale can be found here. Insiders have sold a total of 83,877 shares of company stock worth $19,948,667 in the last quarter. Corporate insiders own 23.92% of the company’s stock.

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.