Mutual of America Capital Management LLC Lowers Stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Posted by on Aug 6th, 2023

Mutual of America Capital Management LLC lowered its position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL – Free Report) by 4.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,253 shares of the biopharmaceutical company’s stock after selling 701 shares during the quarter. Mutual of America Capital Management LLC owned 0.08% of Madrigal Pharmaceuticals worth $3,695,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Emerald Mutual Fund Advisers Trust raised its position in shares of Madrigal Pharmaceuticals by 532.3% during the first quarter. Emerald Mutual Fund Advisers Trust now owns 66,198 shares of the biopharmaceutical company’s stock valued at $16,037,000 after buying an additional 55,729 shares during the last quarter. Emerald Advisers LLC raised its position in shares of Madrigal Pharmaceuticals by 531.8% during the first quarter. Emerald Advisers LLC now owns 82,064 shares of the biopharmaceutical company’s stock valued at $19,881,000 after buying an additional 69,076 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Madrigal Pharmaceuticals during the first quarter valued at approximately $249,000. Jump Financial LLC raised its position in shares of Madrigal Pharmaceuticals by 353.2% during the first quarter. Jump Financial LLC now owns 20,795 shares of the biopharmaceutical company’s stock valued at $5,038,000 after buying an additional 16,207 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Madrigal Pharmaceuticals by 105.5% during the first quarter. Victory Capital Management Inc. now owns 2,873 shares of the biopharmaceutical company’s stock valued at $696,000 after buying an additional 1,475 shares during the last quarter. Hedge funds and other institutional investors own 75.68% of the company’s stock.

Analyst Ratings Changes

MDGL has been the topic of several recent analyst reports. Canaccord Genuity Group reiterated a “buy” rating and set a $336.00 price objective on shares of Madrigal Pharmaceuticals in a research report on Tuesday, July 18th. Oppenheimer lifted their price objective on shares of Madrigal Pharmaceuticals from $300.00 to $350.00 in a research report on Tuesday, May 16th. Finally, StockNews.com cut shares of Madrigal Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Thursday, June 15th. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $312.36.

Madrigal Pharmaceuticals Price Performance

NASDAQ:MDGL opened at $194.48 on Friday. Madrigal Pharmaceuticals, Inc. has a 1-year low of $57.21 and a 1-year high of $322.67. The company has a 50-day moving average of $233.34 and a 200 day moving average of $260.22. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 0.56.

Madrigal Pharmaceuticals (NASDAQ:MDGL – Get Free Report) last released its quarterly earnings data on Tuesday, May 9th. The biopharmaceutical company reported ($4.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($4.78) by $0.55. Research analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -18.22 EPS for the current fiscal year.

Madrigal Pharmaceuticals Profile

(Free Report)

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 selective thyroid hormone receptor beta agonist, which is in Phase III clinical trials for treating NASH.

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

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