Erste Asset Management GmbH Has $51.27 Million Stock Holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Erste Asset Management GmbH cut its position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 29.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 164,400 shares of the biopharmaceutical company’s stock after selling 70,000 shares during the quarter. Erste Asset Management GmbH’s holdings in Madrigal Pharmaceuticals were worth $51,267,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Paulson & CO. Inc. boosted its holdings in Madrigal Pharmaceuticals by 10.4% during the third quarter. Paulson & CO. Inc. now owns 2,042,000 shares of the biopharmaceutical company’s stock valued at $433,353,000 after purchasing an additional 192,000 shares in the last quarter. RTW Investments LP boosted its holdings in Madrigal Pharmaceuticals by 4.1% during the third quarter. RTW Investments LP now owns 1,993,687 shares of the biopharmaceutical company’s stock valued at $423,100,000 after purchasing an additional 77,825 shares in the last quarter. State Street Corp boosted its holdings in Madrigal Pharmaceuticals by 19.2% during the third quarter. State Street Corp now owns 887,752 shares of the biopharmaceutical company’s stock valued at $188,399,000 after purchasing an additional 143,038 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Madrigal Pharmaceuticals by 1.5% during the third quarter. Geode Capital Management LLC now owns 405,655 shares of the biopharmaceutical company’s stock valued at $86,104,000 after purchasing an additional 5,801 shares in the last quarter. Finally, Braidwell LP acquired a new stake in Madrigal Pharmaceuticals during the third quarter valued at approximately $39,010,000. 98.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Madrigal Pharmaceuticals news, CEO William John Sibold sold 1,584 shares of Madrigal Pharmaceuticals stock in a transaction on Friday, January 24th. The shares were sold at an average price of $335.24, for a total transaction of $531,020.16. Following the completion of the sale, the chief executive officer now owns 54,303 shares of the company’s stock, valued at approximately $18,204,537.72. The trade was a 2.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Robert E. Waltermire sold 442 shares of Madrigal Pharmaceuticals stock in a transaction on Friday, January 17th. The stock was sold at an average price of $273.41, for a total transaction of $120,847.22. Following the sale, the vice president now directly owns 5,058 shares of the company’s stock, valued at $1,382,907.78. This represents a 8.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,900 shares of company stock worth $12,168,079 in the last quarter. Insiders own 22.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on MDGL shares. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, November 20th. Citigroup lifted their target price on shares of Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. B. Riley upgraded shares of Madrigal Pharmaceuticals from a “hold” rating to a “strong-buy” rating and lifted their target price for the company from $236.00 to $422.00 in a research note on Thursday, February 27th. HC Wainwright lifted their target price on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $427.00 target price on shares of Madrigal Pharmaceuticals in a research note on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Madrigal Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $375.75.

Madrigal Pharmaceuticals Stock Performance

MDGL stock opened at $327.31 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.98 and a quick ratio of 5.93. The company has a 50 day moving average price of $325.79 and a 200 day moving average price of $289.37. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $189.00 and a fifty-two week high of $377.46. The stock has a market capitalization of $7.23 billion, a PE ratio of -13.05 and a beta of -0.41.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings data on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) earnings per share for the quarter, topping the consensus estimate of ($4.32) by $1.61. The company had revenue of $103.32 million during the quarter, compared to the consensus estimate of $97.81 million. Analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS 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.