Madrigal Pharmaceuticals, Inc. $MDGL Shares Acquired by Allianz Asset Management GmbH

Allianz Asset Management GmbH lifted its position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 106.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,100 shares of the biopharmaceutical company’s stock after purchasing an additional 1,600 shares during the period. Allianz Asset Management GmbH’s holdings in Madrigal Pharmaceuticals were worth $1,422,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in MDGL. Adage Capital Partners GP L.L.C. increased its holdings in Madrigal Pharmaceuticals by 96.3% in the second quarter. Adage Capital Partners GP L.L.C. now owns 376,163 shares of the biopharmaceutical company’s stock valued at $113,842,000 after buying an additional 184,554 shares in the last quarter. Norges Bank acquired a new stake in shares of Madrigal Pharmaceuticals during the 2nd quarter valued at about $53,406,000. Invesco Ltd. increased its stake in shares of Madrigal Pharmaceuticals by 50.7% in the 2nd quarter. Invesco Ltd. now owns 200,356 shares of the biopharmaceutical company’s stock valued at $60,636,000 after purchasing an additional 67,422 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Madrigal Pharmaceuticals by 1,886.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 69,037 shares of the biopharmaceutical company’s stock worth $20,893,000 after purchasing an additional 65,561 shares during the period. Finally, Artisan Partners Limited Partnership boosted its position in Madrigal Pharmaceuticals by 46.3% during the second quarter. Artisan Partners Limited Partnership now owns 201,571 shares of the biopharmaceutical company’s stock worth $61,003,000 after purchasing an additional 63,833 shares in the last quarter. 98.50% of the stock is owned by hedge funds and other institutional investors.

Madrigal Pharmaceuticals Price Performance

NASDAQ:MDGL opened at $464.71 on Friday. Madrigal Pharmaceuticals, Inc. has a one year low of $265.00 and a one year high of $615.00. The stock has a market cap of $10.55 billion, a PE ratio of -35.72, a P/E/G ratio of 6.73 and a beta of -1.01. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.26 and a current ratio of 3.44. The stock has a 50 day moving average price of $531.66 and a 200 day moving average price of $475.66.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on MDGL shares. HC Wainwright boosted their price objective on Madrigal Pharmaceuticals from $568.00 to $620.00 and gave the company a “buy” rating in a research report on Friday, November 21st. Wolfe Research set a $579.00 price target on shares of Madrigal Pharmaceuticals in a report on Tuesday, January 6th. Bank of America raised shares of Madrigal Pharmaceuticals from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $266.00 to $445.00 in a report on Monday, November 3rd. Citigroup reiterated an “outperform” rating on shares of Madrigal Pharmaceuticals in a research report on Tuesday, January 20th. Finally, UBS Group set a $900.00 price target on shares of Madrigal Pharmaceuticals in a research report on Friday, December 19th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Madrigal Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $654.73.

Insider Activity

In other Madrigal Pharmaceuticals news, Director Rebecca Taub sold 18,650 shares of the business’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $552.15, for a total value of $10,297,597.50. Following the transaction, the director directly owned 461,044 shares in the company, valued at $254,565,444.60. The trade was a 3.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Mardi Dier sold 4,173 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $578.34, for a total transaction of $2,413,412.82. Following the completion of the sale, the chief financial officer directly owned 10,440 shares of the company’s stock, valued at approximately $6,037,869.60. This trade represents a 28.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 101,495 shares of company stock worth $54,568,691. Insiders own 21.50% of the company’s stock.

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.