Hennion & Walsh Asset Management Inc. Sells 4,684 Shares of Madrigal Pharmaceuticals, Inc. $MDGL

Hennion & Walsh Asset Management Inc. cut its holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 36.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,163 shares of the biopharmaceutical company’s stock after selling 4,684 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Madrigal Pharmaceuticals were worth $4,754,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of MDGL. Eastern Bank boosted its holdings in shares of Madrigal Pharmaceuticals by 32.3% during the 4th quarter. Eastern Bank now owns 86 shares of the biopharmaceutical company’s stock worth $50,000 after buying an additional 21 shares during the period. Peak Financial Advisors LLC grew its stake in Madrigal Pharmaceuticals by 287.0% in the 4th quarter. Peak Financial Advisors LLC now owns 4,466 shares of the biopharmaceutical company’s stock valued at $2,601,000 after buying an additional 3,312 shares during the last quarter. SG Americas Securities LLC raised its holdings in Madrigal Pharmaceuticals by 23.0% in the 4th quarter. SG Americas Securities LLC now owns 6,386 shares of the biopharmaceutical company’s stock worth $3,719,000 after acquiring an additional 1,195 shares during the period. Assenagon Asset Management S.A. acquired a new position in Madrigal Pharmaceuticals during the 4th quarter worth $3,139,000. Finally, Wealth Enhancement Advisory Services LLC lifted its position in Madrigal Pharmaceuticals by 113.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,513 shares of the biopharmaceutical company’s stock worth $844,000 after acquiring an additional 805 shares during the last quarter. 98.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on MDGL. Citigroup restated an “outperform” rating on shares of Madrigal Pharmaceuticals in a research note on Tuesday, January 20th. Piper Sandler lifted their price target on Madrigal Pharmaceuticals from $540.00 to $900.00 and gave the stock an “overweight” rating in a research report on Friday, December 19th. Citizens Jmp upped their price target on Madrigal Pharmaceuticals from $527.00 to $745.00 and gave the stock a “market outperform” rating in a report on Tuesday, January 20th. Barclays assumed coverage on shares of Madrigal Pharmaceuticals in a research note on Tuesday, January 27th. They issued an “overweight” rating and a $964.00 price objective on the stock. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $571.00 target price on shares of Madrigal Pharmaceuticals in a research report on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $685.31.

Insider Transactions at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, CFO Mardi Dier sold 1,982 shares of the company’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $430.87, for a total transaction of $853,984.34. Following the transaction, the chief financial officer directly owned 12,490 shares in the company, valued at approximately $5,381,566.30. This represents a 13.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William John Sibold sold 1,663 shares of the firm’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $431.94, for a total value of $718,316.22. Following the completion of the transaction, the chief executive officer owned 161,829 shares in the company, valued at $69,900,418.26. This represents a 1.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 55,612 shares of company stock worth $28,326,065. Corporate insiders own 21.50% of the company’s stock.

Madrigal Pharmaceuticals Stock Performance

Shares of NASDAQ:MDGL opened at $505.34 on Tuesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 4.01 and a quick ratio of 3.77. The business’s fifty day moving average price is $464.11 and its two-hundred day moving average price is $490.88. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $265.00 and a fifty-two week high of $615.00. The stock has a market capitalization of $11.59 billion, a price-to-earnings ratio of -39.26 and a beta of -0.97.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its earnings results on Thursday, February 19th. The biopharmaceutical company reported ($2.57) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($2.61). Madrigal Pharmaceuticals had a negative net margin of 30.08% and a negative return on equity of 43.76%. The firm had revenue of $321.08 million during the quarter, compared to the consensus estimate of $310.36 million. During the same quarter last year, the firm posted ($2.71) EPS. The business’s revenue was up 210.8% on a year-over-year basis. As a group, analysts predict that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current fiscal year.

About Madrigal Pharmaceuticals

Madrigal Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the development of innovative therapies for cardiovascular, metabolic and liver diseases. The company’s pipeline centers on novel, liver-directed agents designed to address significant unmet medical needs, with an emphasis on nonalcoholic steatohepatitis (NASH) and related metabolic disorders.

The lead product candidate, resmetirom (MGL-3196), is an orally administered, selective thyroid hormone receptor-β agonist in Phase 3 development for the treatment of NASH.