Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) Shares Sold by Macquarie Group Ltd.

Macquarie Group Ltd. reduced its stake in shares of Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) by 29.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,500 shares of the biopharmaceutical company’s stock after selling 12,100 shares during the quarter. Macquarie Group Ltd.’s holdings in Madrigal Pharmaceuticals were worth $2,987,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the stock. BlackRock Inc. raised its stake in Madrigal Pharmaceuticals by 7.6% during the 2nd quarter. BlackRock Inc. now owns 562,032 shares of the biopharmaceutical company’s stock worth $58,906,000 after acquiring an additional 39,492 shares in the last quarter. Rock Springs Capital Management LP raised its stake in Madrigal Pharmaceuticals by 0.6% during the 2nd quarter. Rock Springs Capital Management LP now owns 256,900 shares of the biopharmaceutical company’s stock worth $26,926,000 after acquiring an additional 1,650 shares in the last quarter. Marshall Wace North America L.P. purchased a new position in Madrigal Pharmaceuticals during the 1st quarter worth $17,699,000. Northern Trust Corp grew its position in Madrigal Pharmaceuticals by 2.2% during the 2nd quarter. Northern Trust Corp now owns 98,407 shares of the biopharmaceutical company’s stock worth $10,314,000 after purchasing an additional 2,136 shares during the last quarter. Finally, Invesco Ltd. grew its position in Madrigal Pharmaceuticals by 159.2% during the 2nd quarter. Invesco Ltd. now owns 66,896 shares of the biopharmaceutical company’s stock worth $7,011,000 after purchasing an additional 41,083 shares during the last quarter. Hedge funds and other institutional investors own 61.77% of the company’s stock.

Several brokerages have issued reports on MDGL. HC Wainwright reissued a “buy” rating and set a $225.00 price objective on shares of Madrigal Pharmaceuticals in a research report on Wednesday, July 3rd. BidaskClub downgraded shares of Madrigal Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 1st. Citigroup lowered their price objective on shares of Madrigal Pharmaceuticals from $186.00 to $173.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. B. Riley set a $134.00 price objective on shares of Madrigal Pharmaceuticals and gave the stock a “buy” rating in a research report on Friday, August 9th. Finally, Stifel Nicolaus set a $126.00 price objective on shares of Madrigal Pharmaceuticals and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and eleven have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $172.11.

Shares of Madrigal Pharmaceuticals stock opened at $87.13 on Friday. The company has a market capitalization of $1.32 billion, a P/E ratio of -39.25 and a beta of 1.09. The company’s fifty day moving average is $92.58 and its two-hundred day moving average is $100.58. Madrigal Pharmaceuticals Inc has a 1 year low of $82.31 and a 1 year high of $219.61.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($1.28) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.22) by ($0.06). During the same quarter last year, the firm earned ($0.45) EPS. As a group, sell-side analysts anticipate that Madrigal Pharmaceuticals Inc will post -5.03 earnings per share for the current year.

Madrigal Pharmaceuticals Profile

Madrigal Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of therapeutic candidates for the treatment of cardiovascular, metabolic, and liver diseases. The company's lead candidate is MGL-3196, an orally administered, small-molecule, liver-directed, thyroid hormone receptor (THR) ß-selective agonist, which is in Phase II clinical trials for the treatment of non-alcoholic steatohepatitis and heterozygous familial hypercholesterolemia.

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Institutional Ownership by Quarter for Madrigal Pharmaceuticals (NASDAQ:MDGL)

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