Shikiar Asset Management Inc. Sells 400 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Shikiar Asset Management Inc. lessened its stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 7.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 5,000 shares of the biopharmaceutical company’s stock after selling 400 shares during the period. Shikiar Asset Management Inc.’s holdings in Madrigal Pharmaceuticals were worth $1,543,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Nisa Investment Advisors LLC raised its position in Madrigal Pharmaceuticals by 47.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock valued at $45,000 after purchasing an additional 68 shares in the last quarter. Quest Partners LLC increased its stake in shares of Madrigal Pharmaceuticals by 172.8% during the third quarter. Quest Partners LLC now owns 581 shares of the biopharmaceutical company’s stock valued at $123,000 after buying an additional 368 shares during the period. Centaurus Financial Inc. bought a new stake in shares of Madrigal Pharmaceuticals in the second quarter valued at about $163,000. Amalgamated Bank lifted its stake in Madrigal Pharmaceuticals by 20.2% in the second quarter. Amalgamated Bank now owns 607 shares of the biopharmaceutical company’s stock worth $170,000 after acquiring an additional 102 shares during the period. Finally, Miracle Mile Advisors LLC bought a new position in Madrigal Pharmaceuticals during the 4th quarter worth about $216,000. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Price Performance

MDGL stock opened at $293.64 on Friday. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15. Madrigal Pharmaceuticals, Inc. has a 52 week low of $168.25 and a 52 week high of $368.29. The firm has a 50 day moving average of $314.19 and a 200 day moving average of $272.68.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share for the quarter, beating analysts’ consensus estimates of ($6.94) by $2.02. The company had revenue of $62.18 million for the quarter, compared to analysts’ expectations of $34.60 million. During the same period last year, the firm earned ($5.34) earnings per share. Equities analysts predict that Madrigal Pharmaceuticals, Inc. will post -23.77 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on MDGL. UBS Group increased their price objective on shares of Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a “buy” rating in a research note on Friday, November 1st. StockNews.com upgraded Madrigal Pharmaceuticals to a “sell” rating in a report on Saturday, October 12th. Cantor Fitzgerald restated a “neutral” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, November 20th. HC Wainwright raised their price objective on Madrigal Pharmaceuticals from $390.00 to $400.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, JMP Securities reiterated a “market outperform” rating and issued a $427.00 target price on shares of Madrigal Pharmaceuticals in a report on Friday, January 10th. Two 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. Based on data from MarketBeat, Madrigal Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $351.67.

Insiders Place Their Bets

In other Madrigal Pharmaceuticals news, Director Richard S. Levy sold 5,000 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $300.94, for a total transaction of $1,504,700.00. Following the sale, the director now directly owns 11,012 shares of the company’s stock, valued at approximately $3,313,951.28. This trade represents a 31.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Fred B. Craves sold 3,400 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $350.30, for a total value of $1,191,020.00. Following the completion of the transaction, the director now directly owns 14,600 shares of the company’s stock, valued at approximately $5,114,380. This trade represents a 18.89 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,408 shares of company stock valued at $4,489,207. 22.80% of the stock is owned by company insiders.

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.