Handelsbanken Fonder AB Buys 300 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Handelsbanken Fonder AB increased its position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 0.9% during the 4th quarter, Holdings Channel reports. The firm owned 32,800 shares of the biopharmaceutical company’s stock after acquiring an additional 300 shares during the quarter. Handelsbanken Fonder AB’s holdings in Madrigal Pharmaceuticals were worth $10,121,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Braidwell LP purchased a new position in Madrigal Pharmaceuticals during the 3rd quarter valued at about $39,010,000. Eagle Asset Management Inc. bought a new position in shares of Madrigal Pharmaceuticals during the third quarter valued at approximately $6,875,000. Intech Investment Management LLC purchased a new position in Madrigal Pharmaceuticals during the third quarter valued at approximately $1,280,000. Vestal Point Capital LP bought a new position in Madrigal Pharmaceuticals in the third quarter worth approximately $6,367,000. Finally, Blueshift Asset Management LLC purchased a new stake in Madrigal Pharmaceuticals during the third quarter worth $393,000. Institutional investors own 98.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on MDGL shares. HC Wainwright lifted their price target on Madrigal Pharmaceuticals from $390.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. 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. UBS Group boosted their target price on shares of Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the stock a “buy” rating in a report on Friday, November 1st. B. Riley raised their price target on shares of Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Finally, Cantor Fitzgerald reiterated a “neutral” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, November 20th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Madrigal Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $351.67.

Madrigal Pharmaceuticals Trading Down 4.2 %

NASDAQ MDGL opened at $336.23 on Friday. Madrigal Pharmaceuticals, Inc. has a 12-month low of $189.00 and a 12-month high of $368.29. The company has a fifty day simple moving average of $319.87 and a two-hundred day simple moving average of $281.78. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15. The stock has a market cap of $7.33 billion, a P/E ratio of -13.41 and a beta of -0.38.

Insider Activity at Madrigal Pharmaceuticals

In related news, insider Carole Huntsman sold 347 shares of Madrigal Pharmaceuticals stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $335.24, for a total transaction of $116,328.28. Following the completion of the sale, the insider now owns 10,438 shares of the company’s stock, valued at $3,499,235.12. The trade was a 3.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Fred B. Craves sold 3,400 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $350.30, for a total transaction of $1,191,020.00. Following the completion of the transaction, the director now owns 14,600 shares in the company, valued at approximately $5,114,380. This trade represents a 18.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,090 shares of company stock valued at $3,883,621 in the last ninety days. Company insiders own 22.80% of the company’s stock.

Madrigal Pharmaceuticals Company Profile

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.