J. Safra Sarasin Holding AG Trims Stock Holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

J. Safra Sarasin Holding AG decreased its holdings in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 39.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,405 shares of the biopharmaceutical company's stock after selling 2,195 shares during the quarter. J. Safra Sarasin Holding AG's holdings in Madrigal Pharmaceuticals were worth $1,051,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in MDGL. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Madrigal Pharmaceuticals during the 4th quarter valued at $70,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Madrigal Pharmaceuticals during the fourth quarter valued at about $164,000. KBC Group NV lifted its holdings in shares of Madrigal Pharmaceuticals by 73.5% in the fourth quarter. KBC Group NV now owns 609 shares of the biopharmaceutical company's stock worth $188,000 after buying an additional 258 shares in the last quarter. Jump Financial LLC bought a new position in shares of Madrigal Pharmaceuticals in the fourth quarter valued at approximately $210,000. Finally, Farringdon Capital Ltd. purchased a new position in Madrigal Pharmaceuticals during the fourth quarter valued at approximately $215,000. Hedge funds and other institutional investors own 98.50% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. JMP Securities reiterated a "market outperform" rating and issued a $427.00 target price on shares of Madrigal Pharmaceuticals in a research note on Friday, January 10th. B. Riley raised Madrigal Pharmaceuticals from a "hold" rating to a "strong-buy" rating and lifted their price objective for the company from $236.00 to $422.00 in a research note on Thursday, February 27th. HC Wainwright boosted their target price on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. Finally, Citigroup raised their price target on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a "buy" rating in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $407.00.

Insiders Place Their Bets

In other news, CMO Rebecca Taub sold 648 shares of the company's stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $335.24, for a total transaction of $217,235.52. Following the completion of the transaction, the chief marketing officer now directly owns 456,662 shares of the company's stock, valued at approximately $153,091,368.88. This represents a 0.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William John Sibold sold 1,584 shares of the firm's stock in a transaction dated Friday, January 24th. The stock was 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 in the company, valued at $18,204,537.72. The trade was a 2.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,492 shares of company stock valued at $11,509,707 over the last three months. Insiders own 22.80% of the company's stock.

Madrigal Pharmaceuticals Stock Performance

Shares of NASDAQ MDGL opened at $302.72 on Wednesday. The stock's 50-day moving average is $327.09 and its 200 day moving average is $308.46. The stock has a market cap of $6.68 billion, a price-to-earnings ratio of -12.07 and a beta of -0.69. Madrigal Pharmaceuticals, Inc. has a 1-year low of $189.00 and a 1-year high of $377.46. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) earnings per share for the quarter, topping analysts' consensus estimates of ($4.32) by $1.61. The business had revenue of $103.32 million during the quarter, compared to the consensus estimate of $97.81 million. On average, sell-side analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current fiscal year.

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.

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