Kornitzer Capital Management Inc. KS Makes New Investment in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Kornitzer Capital Management Inc. KS bought a new position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 14,760 shares of the biopharmaceutical company's stock, valued at approximately $4,554,000. Kornitzer Capital Management Inc. KS owned approximately 0.07% of Madrigal Pharmaceuticals at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Creative Planning increased its holdings in shares of Madrigal Pharmaceuticals by 2.7% in the 3rd quarter. Creative Planning now owns 3,299 shares of the biopharmaceutical company's stock worth $700,000 after acquiring an additional 87 shares during the period. Cavalier Investments LLC acquired a new position in shares of Madrigal Pharmaceuticals during the third quarter valued at $773,000. Nisa Investment Advisors LLC increased its holdings in shares of Madrigal Pharmaceuticals by 47.6% during the third quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company's stock valued at $45,000 after purchasing an additional 68 shares during the period. China Universal Asset Management Co. Ltd. increased its holdings in shares of Madrigal Pharmaceuticals by 66.8% during the third quarter. China Universal Asset Management Co. Ltd. now owns 4,176 shares of the biopharmaceutical company's stock valued at $886,000 after purchasing an additional 1,672 shares during the period. Finally, Verity Asset Management Inc. increased its holdings in shares of Madrigal Pharmaceuticals by 7.4% during the third quarter. Verity Asset Management Inc. now owns 1,466 shares of the biopharmaceutical company's stock valued at $311,000 after purchasing an additional 101 shares during the period. Institutional investors and hedge funds own 98.50% of the company's stock.

Madrigal Pharmaceuticals Stock Performance

NASDAQ:MDGL traded down $14.80 during midday trading on Friday, reaching $336.23. The stock had a trading volume of 256,941 shares, compared to its average volume of 415,772. The stock has a market capitalization of $7.33 billion, a P/E ratio of -13.41 and a beta of -0.38. Madrigal Pharmaceuticals, Inc. has a 1-year low of $189.00 and a 1-year high of $368.29. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.98 and a quick ratio of 5.93. The firm's fifty day simple moving average is $319.24 and its 200-day simple moving average is $281.14.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on MDGL shares. JMP Securities reaffirmed a "market outperform" rating and issued a $427.00 price target on shares of Madrigal Pharmaceuticals in a research note on Friday, January 10th. B. Riley upped 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. HC Wainwright lifted their price target on shares of Madrigal Pharmaceuticals from $390.00 to $400.00 and gave the stock a "buy" rating in a research report on Tuesday, January 14th. Cantor Fitzgerald restated a "neutral" rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, November 20th. Finally, UBS Group upped their target price on Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a "buy" rating in a report on Friday, November 1st. Two analysts have rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $351.67.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, CEO William John Sibold sold 1,584 shares of the stock in a transaction on Friday, January 24th. The shares were sold at an average price of $335.24, for a total value of $531,020.16. Following the completion of the sale, the chief executive officer now directly owns 54,303 shares of the company's stock, valued at $18,204,537.72. This represents a 2.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Carole Huntsman sold 347 shares of the stock in a transaction on Friday, January 24th. The shares were 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 directly owns 10,438 shares of the company's stock, valued at approximately $3,499,235.12. This trade represents a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,090 shares of company stock worth $3,883,621 over 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.