Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Shares Sold by Erste Asset Management GmbH

Erste Asset Management GmbH lessened its stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 29.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 164,400 shares of the biopharmaceutical company’s stock after selling 70,000 shares during the period. Erste Asset Management GmbH owned about 0.75% of Madrigal Pharmaceuticals worth $51,267,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of MDGL. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Madrigal Pharmaceuticals during the 4th quarter valued at $70,000. Quest Partners LLC lifted 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 last quarter. KBC Group NV raised its stake in Madrigal Pharmaceuticals by 73.5% during the 4th quarter. KBC Group NV now owns 609 shares of the biopharmaceutical company’s stock valued at $188,000 after purchasing an additional 258 shares during the period. Miracle Mile Advisors LLC acquired a new stake in Madrigal Pharmaceuticals during the 4th quarter valued at $216,000. Finally, D.A. Davidson & CO. acquired a new stake in Madrigal Pharmaceuticals during the 4th quarter valued at $221,000. Institutional investors and hedge funds own 98.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Cantor Fitzgerald reissued a “neutral” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, November 20th. JMP Securities reissued a “market outperform” rating and set a $427.00 target price on shares of Madrigal Pharmaceuticals in a research note on Friday, January 10th. B. Riley raised shares of Madrigal Pharmaceuticals from a “hold” rating to a “strong-buy” rating and boosted their target price for the company from $236.00 to $422.00 in a research note on Thursday, February 27th. HC Wainwright boosted their target price on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Finally, Citigroup boosted their target price on shares of Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $375.75.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, CEO William John Sibold sold 1,584 shares of the firm’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $335.24, for a total transaction of $531,020.16. Following the transaction, the chief executive officer now directly owns 54,303 shares in the company, valued at $18,204,537.72. This trade represents a 2.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James M. Daly sold 15,470 shares of the firm’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $347.45, for a total value of $5,375,051.50. Following the completion of the sale, the director now directly owns 1,912 shares in the company, valued at approximately $664,324.40. This represents a 89.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,900 shares of company stock worth $12,168,079 over the last three months. Corporate insiders own 22.80% of the company’s stock.

Madrigal Pharmaceuticals Price Performance

NASDAQ MDGL opened at $327.31 on Thursday. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $189.00 and a fifty-two week high of $377.46. The stock’s 50-day moving average is $325.79 and its two-hundred day moving average is $289.37. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.98 and a quick ratio of 5.93. The firm has a market cap of $7.23 billion, a P/E ratio of -13.05 and a beta of -0.41.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its earnings results on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) earnings per share for the quarter, beating the consensus estimate of ($4.32) by $1.61. The company had revenue of $103.32 million for the quarter, compared to the consensus estimate of $97.81 million. On average, analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

Madrigal Pharmaceuticals 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.