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

Hennion & Walsh Asset Management Inc. trimmed its holdings in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 36.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 quarter.

Other hedge funds also recently modified their holdings of the company. Mather Group LLC. bought a new stake in shares of Madrigal Pharmaceuticals in the 3rd quarter valued at about $33,000. Global Retirement Partners LLC grew its holdings in Madrigal Pharmaceuticals by 221.7% during the third quarter. Global Retirement Partners LLC now owns 74 shares of the biopharmaceutical company’s stock worth $34,000 after purchasing an additional 51 shares during the period. First Horizon Corp bought a new position in Madrigal Pharmaceuticals during the third quarter worth about $34,000. Aventura Private Wealth LLC acquired a new position in Madrigal Pharmaceuticals during the fourth quarter worth approximately $36,000. Finally, Aster Capital Management DIFC Ltd acquired a new position in Madrigal Pharmaceuticals during the third quarter worth approximately $39,000. Institutional investors own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Price Performance

Madrigal Pharmaceuticals stock opened at $505.34 on Tuesday. The firm has a market cap of $11.59 billion, a PE ratio of -39.26 and a beta of -0.97. 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 stock’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 one year low of $265.00 and a one year high of $615.00.

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

Insider Buying and Selling at Madrigal Pharmaceuticals

In other news, Director Rebecca Taub sold 491 shares of the business’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $431.94, for a total transaction of $212,082.54. Following the sale, the director directly owned 452,213 shares in the company, valued at approximately $195,328,883.22. The trade was a 0.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Carole Huntsman sold 419 shares of the business’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $431.94, for a total transaction of $180,982.86. Following the sale, the insider directly owned 12,692 shares in the company, valued at $5,482,182.48. The trade was a 3.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 55,612 shares of company stock worth $28,326,065 over the last three months. 21.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Citigroup reaffirmed an “outperform” rating on shares of Madrigal Pharmaceuticals in a report on Tuesday, January 20th. Barclays initiated coverage on shares of Madrigal Pharmaceuticals in a report on Tuesday, January 27th. They issued an “overweight” rating and a $964.00 price objective on the stock. Wolfe Research set a $579.00 price objective on shares of Madrigal Pharmaceuticals in a research report on Tuesday, January 6th. Zacks Research upgraded shares of Madrigal Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Friday, February 20th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Madrigal Pharmaceuticals in a report on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Madrigal Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $685.31.

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.