Bellevue Group AG Acquires New Position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Bellevue Group AG bought a new position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,060 shares of the biopharmaceutical company’s stock, valued at approximately $283,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its position in Madrigal Pharmaceuticals by 7.4% in the 3rd quarter. Vanguard Group Inc. now owns 1,573,338 shares of the biopharmaceutical company’s stock worth $229,770,000 after purchasing an additional 107,816 shares during the period. Global Retirement Partners LLC lifted its stake in shares of Madrigal Pharmaceuticals by 454.5% in the 4th quarter. Global Retirement Partners LLC now owns 122 shares of the biopharmaceutical company’s stock valued at $30,000 after acquiring an additional 100 shares during the last quarter. AMI Asset Management Corp purchased a new stake in Madrigal Pharmaceuticals during the 4th quarter valued at about $1,104,000. China Universal Asset Management Co. Ltd. grew its position in Madrigal Pharmaceuticals by 389.7% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 2,292 shares of the biopharmaceutical company’s stock worth $530,000 after acquiring an additional 1,824 shares during the last quarter. Finally, Arizona State Retirement System increased its stake in Madrigal Pharmaceuticals by 5.8% in the 4th quarter. Arizona State Retirement System now owns 3,032 shares of the biopharmaceutical company’s stock worth $702,000 after purchasing an additional 167 shares during the period. 98.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Citigroup cut their target price on shares of Madrigal Pharmaceuticals from $389.00 to $382.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. Bank of America assumed coverage on shares of Madrigal Pharmaceuticals in a research note on Monday, April 22nd. They set an “underperform” rating and a $150.00 price objective for the company. JMP Securities raised their target price on Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the stock a “market outperform” rating in a research note on Tuesday, July 16th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Madrigal Pharmaceuticals in a research report on Tuesday, July 23rd. Finally, StockNews.com upgraded shares of Madrigal Pharmaceuticals to a “sell” rating in a report on Friday, July 19th. Two analysts have rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Madrigal Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $348.50.

Insider Activity at Madrigal Pharmaceuticals

In other news, VP Robert E. Waltermire sold 1,036 shares of the business’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $231.34, for a total value of $239,668.24. Following the completion of the transaction, the vice president now owns 5,500 shares in the company, valued at $1,272,370. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Madrigal Pharmaceuticals news, Director Fred B. Craves sold 22,489 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $212.88, for a total value of $4,787,458.32. Following the completion of the sale, the director now owns 413,362 shares of the company’s stock, valued at approximately $87,996,502.56. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Robert E. Waltermire sold 1,036 shares of the stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $231.34, for a total value of $239,668.24. Following the transaction, the vice president now directly owns 5,500 shares in the company, valued at $1,272,370. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,425 shares of company stock valued at $6,129,127. 23.92% of the stock is owned by corporate insiders.

Madrigal Pharmaceuticals Stock Down 1.9 %

NASDAQ:MDGL traded down $5.48 during trading hours on Monday, reaching $279.01. 56,873 shares of the company traded hands, compared to its average volume of 485,501. Madrigal Pharmaceuticals, Inc. has a 1 year low of $119.76 and a 1 year high of $299.98. The stock has a market capitalization of $5.95 billion, a P/E ratio of -12.12 and a beta of -0.42. The business’s 50-day moving average price is $266.22 and its two-hundred day moving average price is $244.01. The company has a current ratio of 9.39, a quick ratio of 9.39 and a debt-to-equity ratio of 0.14.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings data on Tuesday, May 7th. The biopharmaceutical company reported ($7.38) EPS for the quarter, missing the consensus estimate of ($6.06) by ($1.32). During the same quarter in the prior year, the firm earned ($4.23) EPS. Analysts predict that Madrigal Pharmaceuticals, Inc. will post -27.7 earnings per share for the current year.

About Madrigal Pharmaceuticals

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.