Kornitzer Capital Management Inc. KS Makes New $4.55 Million Investment in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Kornitzer Capital Management Inc. KS bought 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 firm bought 14,760 shares of the biopharmaceutical company’s stock, valued at approximately $4,554,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Paulson & CO. Inc. increased its holdings in shares of Madrigal Pharmaceuticals by 10.4% in the 3rd quarter. Paulson & CO. Inc. now owns 2,042,000 shares of the biopharmaceutical company’s stock worth $433,353,000 after purchasing an additional 192,000 shares in the last quarter. RTW Investments LP grew its holdings in shares of Madrigal Pharmaceuticals by 4.1% in the third quarter. RTW Investments LP now owns 1,993,687 shares of the biopharmaceutical company’s stock worth $423,100,000 after acquiring an additional 77,825 shares during the period. State Street Corp grew its holdings in shares of Madrigal Pharmaceuticals by 19.2% in the third quarter. State Street Corp now owns 887,752 shares of the biopharmaceutical company’s stock worth $188,399,000 after acquiring an additional 143,038 shares during the period. Geode Capital Management LLC grew its holdings in shares of Madrigal Pharmaceuticals by 1.5% in the third quarter. Geode Capital Management LLC now owns 405,655 shares of the biopharmaceutical company’s stock worth $86,104,000 after acquiring an additional 5,801 shares during the period. Finally, Erste Asset Management GmbH bought a new stake in shares of Madrigal Pharmaceuticals in the third quarter worth $49,749,000. Institutional investors own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Price Performance

NASDAQ MDGL opened at $339.87 on Wednesday. The business’s fifty day moving average is $316.98 and its 200 day moving average is $279.75. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $189.00 and a fifty-two week high of $368.29. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15.

Analyst Ratings Changes

Several analysts recently commented on MDGL shares. B. Riley lifted their price objective on Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. HC Wainwright lifted their price objective on Madrigal Pharmaceuticals from $390.00 to $400.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. JMP Securities reaffirmed a “market outperform” rating and issued a $427.00 price objective on shares of Madrigal Pharmaceuticals in a report on Friday, January 10th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, November 20th. Finally, UBS Group lifted their price objective on Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $351.67.

Insider Activity

In other news, Director Fred B. Craves sold 3,400 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $350.30, for a total value of $1,191,020.00. Following the transaction, the director now directly owns 14,600 shares in the company, valued at $5,114,380. The trade was a 18.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William John Sibold sold 1,584 shares of the business’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $335.24, for a total value of $531,020.16. Following the completion of the transaction, the chief executive officer now owns 54,303 shares in the company, valued at $18,204,537.72. The trade was a 2.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,090 shares of company stock worth $3,883,621 over the last ninety days. Corporate insiders own 22.80% of the company’s stock.

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.