Baader Bank Aktiengesellschaft Invests $885,000 in Madrigal Pharmaceuticals, Inc. $MDGL

Baader Bank Aktiengesellschaft purchased a new stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 1,935 shares of the biopharmaceutical company’s stock, valued at approximately $885,000.

A number of other hedge funds have also recently modified their holdings of the company. Teacher Retirement System of Texas lifted its stake in Madrigal Pharmaceuticals by 9.6% during the second quarter. Teacher Retirement System of Texas now owns 3,860 shares of the biopharmaceutical company’s stock worth $1,168,000 after purchasing an additional 338 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH grew its stake in shares of Madrigal Pharmaceuticals by 388.3% in the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 15,288 shares of the biopharmaceutical company’s stock valued at $7,012,000 after buying an additional 12,157 shares in the last quarter. Voya Investment Management LLC raised its holdings in shares of Madrigal Pharmaceuticals by 16.3% in the 3rd quarter. Voya Investment Management LLC now owns 59,437 shares of the biopharmaceutical company’s stock valued at $27,261,000 after buying an additional 8,347 shares during the period. Calamos Advisors LLC purchased a new stake in shares of Madrigal Pharmaceuticals in the 3rd quarter valued at $2,057,000. Finally, Marex Group plc acquired a new position in Madrigal Pharmaceuticals during the 2nd quarter worth about $548,000. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MDGL. Citigroup reiterated an “outperform” rating on shares of Madrigal Pharmaceuticals in a research note on Tuesday, January 20th. Canaccord Genuity Group upped their target price on shares of Madrigal Pharmaceuticals from $526.00 to $587.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. The Goldman Sachs Group reiterated a “buy” rating and set a $571.00 target price on shares of Madrigal Pharmaceuticals in a report on Wednesday, January 14th. Citizens Jmp upped their price objective on Madrigal Pharmaceuticals from $527.00 to $745.00 and gave the stock a “market outperform” rating in a research report on Tuesday, January 20th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a research note on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $654.73.

Insider Buying and Selling

In related news, Director Rebecca Taub sold 18,650 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $552.15, for a total transaction of $10,297,597.50. Following the transaction, the director owned 461,044 shares in the company, valued at $254,565,444.60. This trade represents a 3.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Carole Huntsman sold 1,958 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $553.11, for a total value of $1,082,989.38. Following the transaction, the insider directly owned 10,032 shares in the company, valued at approximately $5,548,799.52. This trade represents a 16.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 101,495 shares of company stock valued at $54,568,691 over the last ninety days. Company insiders own 21.50% of the company’s stock.

Madrigal Pharmaceuticals Stock Performance

Shares of Madrigal Pharmaceuticals stock opened at $481.00 on Thursday. The company has a quick ratio of 3.26, a current ratio of 3.44 and a debt-to-equity ratio of 0.54. Madrigal Pharmaceuticals, Inc. has a 52 week low of $265.00 and a 52 week high of $615.00. The firm’s 50 day moving average is $536.16 and its two-hundred day moving average is $474.48. The firm has a market capitalization of $10.92 billion, a P/E ratio of -36.97, a P/E/G ratio of 6.80 and a beta of -1.01.

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