Fiera Capital Corp Reduces Stock Holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Fiera Capital Corp cut its position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 3.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 111,880 shares of the biopharmaceutical company’s stock after selling 3,535 shares during the quarter. Fiera Capital Corp owned about 0.52% of Madrigal Pharmaceuticals worth $23,743,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Verity Asset Management Inc. raised its position in shares of Madrigal Pharmaceuticals by 7.4% in the third quarter. Verity Asset Management Inc. now owns 1,466 shares of the biopharmaceutical company’s stock valued at $311,000 after purchasing an additional 101 shares during the period. China Universal Asset Management Co. Ltd. raised its holdings in Madrigal Pharmaceuticals by 66.8% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 4,176 shares of the biopharmaceutical company’s stock valued at $886,000 after acquiring an additional 1,672 shares during the period. Nisa Investment Advisors LLC lifted its position in shares of Madrigal Pharmaceuticals by 47.6% during the third quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock worth $45,000 after acquiring an additional 68 shares in the last quarter. Cavalier Investments LLC bought a new position in shares of Madrigal Pharmaceuticals in the third quarter worth $773,000. Finally, Creative Planning grew its position in shares of Madrigal Pharmaceuticals by 2.7% in the third quarter. Creative Planning now owns 3,299 shares of the biopharmaceutical company’s stock valued at $700,000 after purchasing an additional 87 shares in the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Insider Activity

In other Madrigal Pharmaceuticals news, Director Richard S. Levy sold 5,000 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $300.94, for a total value of $1,504,700.00. Following the transaction, the director now directly owns 11,012 shares of the company’s stock, valued at $3,313,951.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO William John Sibold sold 6,363 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $243.83, for a total value of $1,551,490.29. Following the sale, the chief executive officer now directly owns 55,887 shares in the company, valued at approximately $13,626,927.21. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard S. Levy sold 5,000 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $300.94, for a total value of $1,504,700.00. Following the completion of the sale, the director now directly owns 11,012 shares of the company’s stock, valued at $3,313,951.28. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 22.80% of the stock is currently owned by corporate insiders.

Madrigal Pharmaceuticals Trading Down 1.2 %

MDGL stock opened at $350.70 on Friday. Madrigal Pharmaceuticals, Inc. has a one year low of $133.99 and a one year high of $368.29. The company has a market capitalization of $7.65 billion, a PE ratio of -13.98 and a beta of -0.46. The company’s 50 day moving average price is $236.51 and its two-hundred day moving average price is $246.83. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.93 and a current ratio of 5.98.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued 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 business had revenue of $62.18 million during the quarter, compared to analysts’ expectations of $34.60 million. During the same quarter in the previous year, the business earned ($5.34) EPS. As a group, analysts predict that Madrigal Pharmaceuticals, Inc. will post -24.08 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MDGL. Evercore ISI cut their target price 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. JMP Securities boosted their price objective on shares of Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the company a “market outperform” rating in a research note on Tuesday, July 16th. B. Riley upped their target price on shares of Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the stock a “neutral” rating in a report on Tuesday. Citigroup reduced their price target on shares of Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, UBS Group increased their price objective on Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $347.33.

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.