1,935 Shares in Madrigal Pharmaceuticals, Inc. $MDGL Bought by Baader Bank Aktiengesellschaft

Baader Bank Aktiengesellschaft acquired a new position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,935 shares of the biopharmaceutical company’s stock, valued at approximately $885,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Adage Capital Partners GP L.L.C. boosted its stake in shares of Madrigal Pharmaceuticals by 96.3% during the second quarter. Adage Capital Partners GP L.L.C. now owns 376,163 shares of the biopharmaceutical company’s stock worth $113,842,000 after buying an additional 184,554 shares during the period. Bank of America Corp DE raised its stake in Madrigal Pharmaceuticals by 12.7% during the 2nd quarter. Bank of America Corp DE now owns 277,221 shares of the biopharmaceutical company’s stock valued at $83,898,000 after acquiring an additional 31,260 shares during the last quarter. Hood River Capital Management LLC lifted its position in Madrigal Pharmaceuticals by 0.3% during the 2nd quarter. Hood River Capital Management LLC now owns 244,738 shares of the biopharmaceutical company’s stock worth $74,068,000 after acquiring an additional 744 shares during the period. Artisan Partners Limited Partnership lifted its position in Madrigal Pharmaceuticals by 46.3% during the 2nd quarter. Artisan Partners Limited Partnership now owns 201,571 shares of the biopharmaceutical company’s stock worth $61,003,000 after acquiring an additional 63,833 shares during the period. Finally, Invesco Ltd. grew its stake in shares of Madrigal Pharmaceuticals by 50.7% in the 2nd quarter. Invesco Ltd. now owns 200,356 shares of the biopharmaceutical company’s stock valued at $60,636,000 after purchasing an additional 67,422 shares during the last quarter. 98.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Madrigal Pharmaceuticals news, CFO Mardi Dier sold 4,173 shares of the business’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $578.34, for a total transaction of $2,413,412.82. Following the sale, the chief financial officer directly owned 10,440 shares in the company, valued at approximately $6,037,869.60. The trade was a 28.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Carole Huntsman sold 1,958 shares of the firm’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $553.11, for a total value of $1,082,989.38. Following the completion of the transaction, the insider owned 10,032 shares of the company’s stock, valued at approximately $5,548,799.52. This represents a 16.33% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 101,495 shares of company stock valued at $54,568,691 in the last 90 days. Insiders own 21.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. JMP Securities set a $527.00 price target on Madrigal Pharmaceuticals in a research note on Wednesday, November 5th. Oppenheimer upped their price objective on shares of Madrigal Pharmaceuticals from $600.00 to $650.00 and gave the stock an “outperform” rating in a research report on Thursday, November 20th. TD Cowen restated a “buy” rating on shares of Madrigal Pharmaceuticals in a research note on Monday, January 12th. UBS Group set a $900.00 price target on shares of Madrigal Pharmaceuticals in a research note on Friday, December 19th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $571.00 price objective on shares of Madrigal Pharmaceuticals in a report on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Madrigal Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $654.73.

Madrigal Pharmaceuticals Trading Up 0.5%

Shares of Madrigal Pharmaceuticals stock opened at $481.00 on Thursday. The company has a 50-day moving average of $536.16 and a two-hundred day moving average of $474.48. Madrigal Pharmaceuticals, Inc. has a 12-month low of $265.00 and a 12-month high of $615.00. The company has a current ratio of 3.44, a quick ratio of 3.26 and a debt-to-equity ratio of 0.54. The stock has a market cap of $10.92 billion, a PE ratio of -36.97, a price-to-earnings-growth ratio of 6.80 and a beta of -1.01.

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.