Erste Asset Management GmbH Has $82.32 Million Stock Position in Madrigal Pharmaceuticals, Inc. $MDGL

Erste Asset Management GmbH decreased its position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 29.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 141,100 shares of the biopharmaceutical company’s stock after selling 60,000 shares during the period. Erste Asset Management GmbH’s holdings in Madrigal Pharmaceuticals were worth $82,319,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Eastern Bank boosted its position in Madrigal Pharmaceuticals by 32.3% during the fourth 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 last quarter. Centaurus Financial Inc. raised its holdings in Madrigal Pharmaceuticals by 5.0% during the third quarter. Centaurus Financial Inc. now owns 709 shares of the biopharmaceutical company’s stock valued at $325,000 after buying an additional 34 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in Madrigal Pharmaceuticals by 34.6% during the fourth quarter. Farther Finance Advisors LLC now owns 140 shares of the biopharmaceutical company’s stock valued at $82,000 after buying an additional 36 shares in the last quarter. Accent Capital Management LLC raised its holdings in Madrigal Pharmaceuticals by 64.9% during the fourth quarter. Accent Capital Management LLC now owns 94 shares of the biopharmaceutical company’s stock valued at $55,000 after buying an additional 37 shares in the last quarter. Finally, Swiss Life Asset Management Ltd raised its holdings in Madrigal Pharmaceuticals by 6.8% during the fourth quarter. Swiss Life Asset Management Ltd now owns 690 shares of the biopharmaceutical company’s stock valued at $402,000 after buying an additional 44 shares in the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Stock Performance

Madrigal Pharmaceuticals stock opened at $486.98 on Monday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.16 and a current ratio of 3.50. The business’s 50-day simple moving average is $516.90 and its 200-day simple moving average is $513.66. The firm has a market capitalization of $11.23 billion, a PE ratio of -38.05 and a beta of -1.07. Madrigal Pharmaceuticals, Inc. has a 52 week low of $275.00 and a 52 week high of $615.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported ($3.25) EPS for the quarter, topping analysts’ consensus estimates of ($3.61) by $0.36. The business had revenue of $311.34 million for the quarter, compared to analyst estimates of $301.05 million. Madrigal Pharmaceuticals had a negative return on equity of 50.15% and a negative net margin of 27.32%.The firm’s revenue for the quarter was up 126.8% on a year-over-year basis. During the same period in the previous year, the company posted ($3.32) earnings per share. Equities research analysts forecast that Madrigal Pharmaceuticals, Inc. will post -7.23 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. HC Wainwright restated a “buy” rating and set a $620.00 target price on shares of Madrigal Pharmaceuticals in a report on Wednesday, May 6th. Canaccord Genuity Group cut their target price on Madrigal Pharmaceuticals from $587.00 to $578.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Evercore set a $649.00 target price on Madrigal Pharmaceuticals in a report on Thursday, May 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a report on Tuesday, April 21st. Finally, Bank of America cut their target price on Madrigal Pharmaceuticals from $570.00 to $529.00 and set a “neutral” rating on the stock in a report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $687.00.

Insider Transactions at Madrigal Pharmaceuticals

In other news, Director Richard S. Levy sold 5,682 shares of Madrigal Pharmaceuticals stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $515.44, for a total value of $2,928,730.08. Following the transaction, the director directly owned 22,015 shares in the company, valued at approximately $11,347,411.60. The trade was a 20.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 dated Monday, June 1st. The stock was sold at an average price of $495.74, for a total value of $516,561.08. Following the completion of the transaction, the insider owned 10,033 shares in the company, valued at $4,973,759.42. The trade was a 9.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 7,568 shares of company stock worth $3,880,711 over the last quarter. 17.60% of the stock is currently owned by corporate insiders.

About Madrigal Pharmaceuticals

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-? agonist in Phase 3 development for the treatment of NASH.