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

Fiera Capital Corp reduced its holdings in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 4.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 107,422 shares of the biopharmaceutical company’s stock after selling 4,458 shares during the period. Fiera Capital Corp’s holdings in Madrigal Pharmaceuticals were worth $33,147,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MDGL. Nisa Investment Advisors LLC grew its stake in shares of Madrigal Pharmaceuticals by 47.6% in the 3rd 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. Quest Partners LLC grew its position in shares of Madrigal Pharmaceuticals by 172.8% during the 3rd quarter. Quest Partners LLC now owns 581 shares of the biopharmaceutical company’s stock valued at $123,000 after acquiring an additional 368 shares during the period. KBC Group NV increased its stake in shares of Madrigal Pharmaceuticals by 73.5% during the 4th quarter. KBC Group NV now owns 609 shares of the biopharmaceutical company’s stock worth $188,000 after purchasing an additional 258 shares during the last quarter. Miracle Mile Advisors LLC bought a new stake in shares of Madrigal Pharmaceuticals in the 4th quarter worth approximately $216,000. Finally, Truist Financial Corp bought a new stake in shares of Madrigal Pharmaceuticals in the 2nd quarter worth approximately $216,000. 98.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MDGL. Oppenheimer decreased their target price on Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. JMP Securities reissued a “market outperform” rating and issued a $427.00 price objective on shares of Madrigal Pharmaceuticals in a report on Friday, January 10th. B. Riley increased their target price on shares of Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, November 20th. Finally, UBS Group upped their price target 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. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $351.67.

Madrigal Pharmaceuticals Trading Up 3.4 %

Madrigal Pharmaceuticals stock opened at $351.71 on Friday. 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, Inc. has a fifty-two week low of $189.00 and a fifty-two week high of $368.29. The stock has a market cap of $7.67 billion, a P/E ratio of -14.02 and a beta of -0.38. The firm’s fifty day moving average price is $315.51 and its 200-day moving average price is $278.44.

Insider Buying and Selling at Madrigal Pharmaceuticals

In related news, VP Robert E. Waltermire sold 103 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $335.24, for a total value of $34,529.72. Following the transaction, the vice president now owns 4,955 shares of the company’s stock, valued at $1,661,114.20. This represents a 2.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William John Sibold sold 1,584 shares of Madrigal Pharmaceuticals stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $335.24, for a total value of $531,020.16. Following the sale, the chief executive officer now directly owns 54,303 shares of the company’s stock, valued at approximately $18,204,537.72. This trade represents a 2.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,090 shares of company stock valued at $3,883,621 in the last 90 days. Corporate insiders own 22.80% of the company’s stock.

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.