Fiera Capital Corp Invests $32.34 Million in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Fiera Capital Corp acquired a new stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 115,415 shares of the biopharmaceutical company’s stock, valued at approximately $32,335,000. Fiera Capital Corp owned 0.53% of Madrigal Pharmaceuticals as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. First Horizon Advisors Inc. lifted its holdings in Madrigal Pharmaceuticals by 1,633.3% in the 2nd quarter. First Horizon Advisors Inc. now owns 104 shares of the biopharmaceutical company’s stock valued at $29,000 after acquiring an additional 98 shares during the last quarter. EntryPoint Capital LLC acquired a new stake in Madrigal Pharmaceuticals during the first quarter valued at approximately $41,000. Signaturefd LLC boosted its holdings in Madrigal Pharmaceuticals by 36.8% during the second quarter. Signaturefd LLC now owns 145 shares of the biopharmaceutical company’s stock worth $41,000 after buying an additional 39 shares in the last quarter. UMB Bank n.a. acquired a new position in Madrigal Pharmaceuticals in the first quarter worth approximately $53,000. Finally, BNP Paribas bought a new position in shares of Madrigal Pharmaceuticals in the first quarter valued at $68,000. Institutional investors own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Stock Down 4.3 %

MDGL stock opened at $236.40 on Wednesday. The company has a quick ratio of 8.67, a current ratio of 8.72 and a debt-to-equity ratio of 0.14. Madrigal Pharmaceuticals, Inc. has a 12-month low of $119.76 and a 12-month high of $299.98. The company has a 50 day moving average of $266.70 and a two-hundred day moving average of $250.38. The company has a market cap of $5.04 billion, a price-to-earnings ratio of -10.24 and a beta of -0.42.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($7.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($7.55) by $0.45. The business had revenue of $14.64 million for the quarter, compared to the consensus estimate of $4.25 million. During the same quarter in the prior year, the business posted ($4.69) EPS. The firm’s revenue for the quarter was up 146280.0% compared to the same quarter last year. On average, equities analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -27.67 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on MDGL. B. Riley reduced their price objective on Madrigal Pharmaceuticals from $270.00 to $200.00 and set a “neutral” rating for the company in a research note on Friday, May 10th. Wolfe Research began coverage on Madrigal Pharmaceuticals in a research note on Tuesday, June 11th. They issued an “outperform” rating and a $382.00 price target on the stock. Evercore ISI cut their price objective on Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. StockNews.com upgraded shares of Madrigal Pharmaceuticals to a “sell” rating in a report on Friday, July 19th. Finally, Cantor Fitzgerald restated a “neutral” rating on shares of Madrigal Pharmaceuticals in a report on Tuesday, July 23rd. Two analysts have rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $343.83.

Insider Activity at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, VP Robert E. Waltermire sold 2,000 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $285.00, for a total transaction of $570,000.00. Following the completion of the sale, the vice president now directly owns 5,500 shares in the company, valued at $1,567,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Robert E. Waltermire sold 2,000 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $285.00, for a total transaction of $570,000.00. Following the completion of the transaction, the vice president now directly owns 5,500 shares in the company, valued at approximately $1,567,500. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Robert E. Waltermire sold 1,900 shares of the stock in a transaction on Friday, June 14th. The shares were sold at an average price of $280.00, for a total transaction of $532,000.00. Following the completion of the sale, the vice president now directly owns 5,500 shares of the company’s stock, valued at $1,540,000. The disclosure for this sale can be found here. 23.92% of the stock is currently owned by company insiders.

About Madrigal Pharmaceuticals

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.