Assenagon Asset Management S.A. Acquires New Stake in Madrigal Pharmaceuticals, Inc. $MDGL

Assenagon Asset Management S.A. purchased a new position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 5,390 shares of the biopharmaceutical company’s stock, valued at approximately $3,139,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in MDGL. Mather Group LLC. acquired a new stake in Madrigal Pharmaceuticals during the 3rd quarter valued at $33,000. Global Retirement Partners LLC lifted its stake in shares of Madrigal Pharmaceuticals by 221.7% during the 3rd quarter. Global Retirement Partners LLC now owns 74 shares of the biopharmaceutical company’s stock worth $34,000 after buying an additional 51 shares during the last quarter. First Horizon Corp acquired a new stake in Madrigal Pharmaceuticals during the third quarter worth approximately $34,000. Aventura Private Wealth LLC bought a new stake in Madrigal Pharmaceuticals in the 4th quarter valued at $36,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in shares of Madrigal Pharmaceuticals in the third quarter valued at about $39,000. 98.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Madrigal Pharmaceuticals

In related news, General Counsel Shannon T. Kelley sold 360 shares of the business’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $431.94, for a total transaction of $155,498.40. Following the completion of the transaction, the general counsel directly owned 12,138 shares in the company, valued at $5,242,887.72. The trade was a 2.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Rebecca Taub sold 491 shares of the company’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $431.94, for a total value of $212,082.54. Following the completion of the transaction, the director owned 452,213 shares in the company, valued at $195,328,883.22. This represents a 0.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 55,612 shares of company stock worth $28,326,065 in the last ninety days. Insiders own 21.50% of the company’s stock.

Madrigal Pharmaceuticals Price Performance

Madrigal Pharmaceuticals stock opened at $510.68 on Monday. The firm has a 50 day simple moving average of $464.03 and a 200 day simple moving average of $490.41. The company has a current ratio of 4.01, a quick ratio of 3.77 and a debt-to-equity ratio of 0.56. Madrigal Pharmaceuticals, Inc. has a 1-year low of $265.00 and a 1-year high of $615.00. The firm has a market capitalization of $11.71 billion, a price-to-earnings ratio of -39.68 and a beta of -0.97.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its earnings results on Thursday, February 19th. The biopharmaceutical company reported ($2.57) EPS for the quarter, missing the consensus estimate of $0.04 by ($2.61). Madrigal Pharmaceuticals had a negative return on equity of 43.76% and a negative net margin of 30.08%.The company had revenue of $321.08 million during the quarter, compared to the consensus estimate of $310.36 million. During the same quarter in the prior year, the business earned ($2.71) EPS. The firm’s revenue for the quarter was up 210.8% compared to the same quarter last year. On average, analysts predict that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current year.

Analyst Upgrades and Downgrades

MDGL has been the topic of a number of research analyst reports. Piper Sandler raised their target price on Madrigal Pharmaceuticals from $540.00 to $900.00 and gave the company an “overweight” rating in a report on Friday, December 19th. Barclays assumed coverage on Madrigal Pharmaceuticals in a research report on Tuesday, January 27th. They set an “overweight” rating and a $964.00 target price for the company. UBS Group set a $900.00 price target on shares of Madrigal Pharmaceuticals in a research report on Friday, December 19th. The Goldman Sachs Group restated a “buy” rating and set a $571.00 target price on shares of Madrigal Pharmaceuticals in a research report on Wednesday, January 14th. Finally, Wolfe Research set a $579.00 price target on shares of Madrigal Pharmaceuticals in a report on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Madrigal Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $685.31.

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.