Fiera Capital Corp Sells 4,458 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Fiera Capital Corp decreased its holdings in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 4.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 107,422 shares of the biopharmaceutical company’s stock after selling 4,458 shares during the quarter. Fiera Capital Corp owned approximately 0.49% of Madrigal Pharmaceuticals worth $33,147,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Truist Financial Corp bought a new stake in shares of Madrigal Pharmaceuticals in the second quarter valued at about $216,000. Sanctuary Advisors LLC acquired a new stake in shares of Madrigal Pharmaceuticals in the second quarter valued at approximately $294,000. SG Americas Securities LLC acquired a new stake in shares of Madrigal Pharmaceuticals in the third quarter valued at approximately $414,000. Creative Planning grew its position in Madrigal Pharmaceuticals by 2.7% during the third quarter. Creative Planning now owns 3,299 shares of the biopharmaceutical company’s stock worth $700,000 after buying an additional 87 shares in the last quarter. Finally, Cavalier Investments LLC bought a new position in Madrigal Pharmaceuticals during the 3rd quarter worth $773,000. Institutional investors and hedge funds own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Stock Up 3.4 %

NASDAQ:MDGL opened at $351.71 on Friday. Madrigal Pharmaceuticals, Inc. has a one year low of $189.00 and a one year high of $368.29. 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 market cap of $7.67 billion, a PE ratio of -14.02 and a beta of -0.38. The firm’s 50 day simple moving average is $315.51 and its 200 day simple moving average is $278.44.

Insider Activity

In other news, Director Fred B. Craves sold 3,600 shares of Madrigal Pharmaceuticals stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $315.31, for a total value of $1,135,116.00. Following the completion of the transaction, the director now directly owns 11,000 shares of the company’s stock, valued at approximately $3,468,410. This trade represents a 24.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Carole Huntsman sold 347 shares of the company’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $335.24, for a total value of $116,328.28. Following the sale, the insider now owns 10,438 shares in the company, valued at approximately $3,499,235.12. The trade was a 3.22 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,090 shares of company stock valued at $3,883,621. Insiders own 22.80% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MDGL. JMP Securities reiterated a “market outperform” rating and set a $427.00 target price on shares of Madrigal Pharmaceuticals in a research report on Friday, January 10th. B. Riley increased their price objective on shares of 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 boosted their target price on shares of Madrigal Pharmaceuticals from $390.00 to $400.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, November 20th. Finally, UBS Group raised their price objective on Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $351.67.

About Madrigal Pharmaceuticals

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.