Groupama Asset Managment Raises Stock Position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Groupama Asset Managment lifted its holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 89.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,324 shares of the biopharmaceutical company's stock after purchasing an additional 11,487 shares during the quarter. Groupama Asset Managment owned 0.11% of Madrigal Pharmaceuticals worth $7,580,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of MDGL. Charles Schwab Investment Management Inc. raised its holdings in shares of Madrigal Pharmaceuticals by 7.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 147,970 shares of the biopharmaceutical company's stock valued at $31,402,000 after purchasing an additional 9,656 shares during the last quarter. BNP Paribas Financial Markets raised its stake in Madrigal Pharmaceuticals by 97.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 9,767 shares of the biopharmaceutical company's stock valued at $2,073,000 after buying an additional 4,811 shares during the last quarter. Cinctive Capital Management LP bought a new position in shares of Madrigal Pharmaceuticals during the 3rd quarter valued at $1,077,000. RTW Investments LP boosted its stake in shares of Madrigal Pharmaceuticals by 4.1% in the 3rd quarter. RTW Investments LP now owns 1,993,687 shares of the biopharmaceutical company's stock worth $423,100,000 after buying an additional 77,825 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of Madrigal Pharmaceuticals by 19.2% in the third quarter. State Street Corp now owns 887,752 shares of the biopharmaceutical company's stock worth $188,399,000 after acquiring an additional 143,038 shares during the period. 98.50% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

A number of research firms have weighed in on MDGL. B. Riley raised Madrigal Pharmaceuticals from a "hold" rating to a "strong-buy" rating and increased their target price for the company from $236.00 to $422.00 in a report on Thursday, February 27th. HC Wainwright increased their price objective on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. JMP Securities restated a "market outperform" rating and set a $427.00 target price on shares of Madrigal Pharmaceuticals in a research report on Friday, January 10th. Finally, Citigroup increased their price target on shares of Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Madrigal Pharmaceuticals currently has an average rating of "Moderate Buy" and an average price target of $378.44.

Insider Activity

In related news, Director James M. Daly sold 15,470 shares of the firm's stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $347.45, for a total transaction of $5,375,051.50. Following the completion of the transaction, the director now directly owns 1,912 shares of the company's stock, valued at approximately $664,324.40. This trade represents a 89.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Carole Huntsman sold 347 shares of the business's stock in a transaction on Friday, January 24th. The stock was 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 owns 10,438 shares in the company, valued at approximately $3,499,235.12. The trade was a 3.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,900 shares of company stock worth $12,168,079 over the last quarter. Insiders own 22.80% of the company's stock.

Madrigal Pharmaceuticals Price Performance

NASDAQ:MDGL traded down $12.71 on Friday, reaching $314.39. 343,494 shares of the company's stock traded hands, compared to its average volume of 388,636. The stock has a 50-day simple moving average of $333.68 and a 200-day simple moving average of $299.84. Madrigal Pharmaceuticals, Inc. has a 12 month low of $189.00 and a 12 month high of $377.46. The firm has a market cap of $6.94 billion, a PE ratio of -12.54 and a beta of -0.68. The company has a quick ratio of 5.93, a current ratio of 5.98 and a debt-to-equity ratio of 0.15.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last issued its earnings results on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) earnings per share (EPS) for the quarter, beating the consensus estimate of ($4.32) by $1.61. The business had revenue of $103.32 million for the quarter, compared to the consensus estimate of $97.81 million. Equities research analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current 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.