Madrigal Pharmaceuticals, Inc. $MDGL Shares Sold by Erste Asset Management GmbH

Erste Asset Management GmbH cut its position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 29.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 141,100 shares of the biopharmaceutical company’s stock after selling 60,000 shares during the quarter. Erste Asset Management GmbH owned 0.62% of Madrigal Pharmaceuticals worth $82,319,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Flagship Harbor Advisors LLC acquired a new position in shares of Madrigal Pharmaceuticals during the 4th quarter valued at $29,000. Aventura Private Wealth LLC acquired a new position in shares of Madrigal Pharmaceuticals during the 4th quarter valued at $36,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Madrigal Pharmaceuticals during the 3rd quarter valued at $39,000. Quarry LP acquired a new position in shares of Madrigal Pharmaceuticals during the 3rd quarter valued at $39,000. Finally, Eastern Bank increased its position in shares of Madrigal Pharmaceuticals by 32.3% during the 4th quarter. Eastern Bank now owns 86 shares of the biopharmaceutical company’s stock valued at $50,000 after purchasing an additional 21 shares during the period. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Evercore set a $649.00 price objective on Madrigal Pharmaceuticals in a research note on Thursday, May 7th. Citigroup reissued a “market outperform” rating on shares of Madrigal Pharmaceuticals in a research note on Monday, June 1st. Weiss Ratings reissued a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a research note on Tuesday, April 21st. Wells Fargo & Company raised Madrigal Pharmaceuticals to an “overweight” rating in a research note on Monday, June 1st. Finally, Truist Financial raised their price objective on Madrigal Pharmaceuticals from $640.00 to $709.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. One 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 company’s stock. According to data from MarketBeat, Madrigal Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $687.00.

Insider Buying and Selling at Madrigal Pharmaceuticals

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

Madrigal Pharmaceuticals Stock Performance

Shares of Madrigal Pharmaceuticals stock opened at $486.98 on Monday. The stock has a market cap of $11.23 billion, a PE ratio of -38.05 and a beta of -1.07. The business has a fifty day simple moving average of $516.90 and a 200-day simple moving average of $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. Madrigal Pharmaceuticals, Inc. has a 12 month low of $275.00 and a 12 month high of $615.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($3.25) EPS for the quarter, topping the consensus estimate of ($3.61) by $0.36. The business had revenue of $311.34 million during the quarter, compared to analysts’ expectations of $301.05 million. Madrigal Pharmaceuticals had a negative return on equity of 50.15% and a negative net margin of 27.32%.Madrigal Pharmaceuticals’s revenue was up 126.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($3.32) earnings per share. On average, sell-side analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -7.23 EPS for the current fiscal year.

Madrigal Pharmaceuticals Company 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.