Assenagon Asset Management S.A. Buys New Position in Madrigal Pharmaceuticals, Inc. $MDGL

Assenagon Asset Management S.A. purchased a new position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 5,390 shares of the biopharmaceutical company’s stock, valued at approximately $3,139,000.

Other institutional investors have also recently made changes to their positions in the company. Mather Group LLC. bought a new stake in shares of Madrigal Pharmaceuticals during the 3rd quarter worth $33,000. Global Retirement Partners LLC increased its stake in Madrigal Pharmaceuticals by 221.7% in the third quarter. Global Retirement Partners LLC now owns 74 shares of the biopharmaceutical company’s stock valued at $34,000 after acquiring an additional 51 shares during the last quarter. First Horizon Corp purchased a new stake in Madrigal Pharmaceuticals during the third quarter valued at about $34,000. Aventura Private Wealth LLC purchased a new stake in Madrigal Pharmaceuticals during the fourth quarter valued at about $36,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in Madrigal Pharmaceuticals during the third quarter worth about $39,000. Institutional investors own 98.50% of the company’s stock.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other news, CEO William John Sibold sold 1,663 shares of the stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $431.94, for a total transaction of $718,316.22. Following the completion of the sale, the chief executive officer directly owned 161,829 shares in the company, valued at approximately $69,900,418.26. This represents a 1.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Carole Huntsman sold 419 shares of the firm’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $431.94, for a total value of $180,982.86. Following the completion of the sale, the insider directly owned 12,692 shares in the company, valued at $5,482,182.48. The trade was a 3.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 55,612 shares of company stock worth $28,326,065 over the last ninety days. 21.50% of the stock is owned by company insiders.

Madrigal Pharmaceuticals Price Performance

Shares of Madrigal Pharmaceuticals stock opened at $510.68 on Monday. The company has a debt-to-equity ratio of 0.56, a current ratio of 4.01 and a quick ratio of 3.77. Madrigal Pharmaceuticals, Inc. has a one year low of $265.00 and a one year high of $615.00. The business’s 50 day simple moving average is $464.03 and its two-hundred day simple moving average is $490.41. The stock has a market capitalization of $11.71 billion, a P/E ratio of -39.68 and a beta of -0.97.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings data on Thursday, February 19th. The biopharmaceutical company reported ($2.57) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($2.61). Madrigal Pharmaceuticals had a negative net margin of 30.08% and a negative return on equity of 43.76%. The company had revenue of $321.08 million for the quarter, compared to analysts’ expectations of $310.36 million. During the same period last year, the company posted ($2.71) EPS. The business’s revenue for the quarter was up 210.8% compared to the same quarter last year. Analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current year.

Analysts Set New Price Targets

MDGL has been the subject of a number of research reports. Zacks Research upgraded Madrigal Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Friday, February 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a research report on Thursday, January 22nd. Piper Sandler upped their target price on Madrigal Pharmaceuticals from $540.00 to $900.00 and gave the stock an “overweight” rating in a research note on Friday, December 19th. The Goldman Sachs Group reiterated a “buy” rating and set a $571.00 price target on shares of Madrigal Pharmaceuticals in a research report on Wednesday, January 14th. Finally, B. Riley Financial lifted their price target on shares of Madrigal Pharmaceuticals from $560.00 to $670.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Madrigal Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $685.31.

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.