Fiera Capital Corp Has $98.68 Million Holdings in Madrigal Pharmaceuticals, Inc. $MDGL

Fiera Capital Corp grew its stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 32.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 169,456 shares of the biopharmaceutical company’s stock after buying an additional 41,656 shares during the quarter. Fiera Capital Corp’s holdings in Madrigal Pharmaceuticals were worth $98,681,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Flagship Harbor Advisors LLC acquired a new position in shares of Madrigal Pharmaceuticals in the fourth quarter valued at approximately $29,000. Aventura Private Wealth LLC acquired a new position in shares of Madrigal Pharmaceuticals in the fourth quarter valued at approximately $36,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Madrigal Pharmaceuticals in the third quarter valued at approximately $39,000. Eastern Bank boosted its holdings in shares of Madrigal Pharmaceuticals by 32.3% in the fourth quarter. Eastern Bank now owns 86 shares of the biopharmaceutical company’s stock valued at $50,000 after buying an additional 21 shares during the period. Finally, Quarry LP acquired a new position in shares of Madrigal Pharmaceuticals in the third quarter valued at approximately $39,000. Institutional investors and hedge funds own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Stock Performance

Shares of MDGL stock opened at $486.98 on Monday. The company’s fifty day simple moving average is $516.90 and its 200-day simple moving average is $513.66. The company has a quick ratio of 3.16, a current ratio of 3.50 and a debt-to-equity ratio of 0.63. The firm has a market cap of $11.23 billion, a PE ratio of -38.05 and a beta of -1.07. Madrigal Pharmaceuticals, Inc. has a 12 month low of $275.00 and a 12 month high of $615.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported ($3.25) EPS for the quarter, topping analysts’ consensus estimates of ($3.61) by $0.36. The business had revenue of $311.34 million for the quarter, compared to analyst estimates of $301.05 million. Madrigal Pharmaceuticals had a negative net margin of 27.32% and a negative return on equity of 50.15%. The firm’s revenue for the quarter was up 126.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($3.32) earnings per share. Equities research analysts expect that Madrigal Pharmaceuticals, Inc. will post -7.23 EPS for the current fiscal year.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, Director Richard S. Levy sold 5,682 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $515.44, for a total transaction of $2,928,730.08. Following the sale, the director directly owned 22,015 shares of the company’s stock, valued at approximately $11,347,411.60. This represents a 20.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Soergel sold 1,042 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $495.74, for a total transaction of $516,561.08. Following the sale, the insider directly owned 10,033 shares in the company, valued at $4,973,759.42. This trade represents a 9.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 7,568 shares of company stock worth $3,880,711 over the last ninety days. Insiders own 17.60% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a research report on Tuesday, April 21st. Truist Financial boosted their price objective on shares of Madrigal Pharmaceuticals from $640.00 to $709.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Wells Fargo & Company raised shares of Madrigal Pharmaceuticals to an “overweight” rating in a research report on Monday, June 1st. Canaccord Genuity Group cut their price objective on shares of Madrigal Pharmaceuticals from $587.00 to $578.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Finally, Zacks Research raised shares of Madrigal Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $687.00.

Madrigal Pharmaceuticals Profile

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.