Erste Asset Management GmbH Has $51.27 Million Stock Position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Erste Asset Management GmbH reduced its position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 29.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 164,400 shares of the biopharmaceutical company's stock after selling 70,000 shares during the period. Erste Asset Management GmbH owned approximately 0.75% of Madrigal Pharmaceuticals worth $51,267,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in MDGL. Assetmark Inc. raised its position in Madrigal Pharmaceuticals by 8.3% during the third quarter. Assetmark Inc. now owns 3,942 shares of the biopharmaceutical company's stock valued at $837,000 after purchasing an additional 303 shares in the last quarter. Victory Capital Management Inc. raised its position in Madrigal Pharmaceuticals by 1.8% during the third quarter. Victory Capital Management Inc. now owns 2,292 shares of the biopharmaceutical company's stock valued at $486,000 after purchasing an additional 40 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in Madrigal Pharmaceuticals by 2.1% during the third quarter. Oppenheimer Asset Management Inc. now owns 1,507 shares of the biopharmaceutical company's stock valued at $320,000 after purchasing an additional 31 shares in the last quarter. Quest Partners LLC grew its stake in shares of Madrigal Pharmaceuticals by 172.8% during the third quarter. Quest Partners LLC now owns 581 shares of the biopharmaceutical company's stock worth $123,000 after buying an additional 368 shares during the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of Madrigal Pharmaceuticals during the third quarter worth $1,280,000. 98.50% of the stock is currently owned by institutional investors and hedge funds.

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Insider Buying and Selling at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, insider Carole Huntsman sold 347 shares of the company's 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 sale, the insider now owns 10,438 shares of the company's stock, valued at approximately $3,499,235.12. This represents a 3.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director James M. Daly sold 15,470 shares of the company'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 sale, the director now directly owns 1,912 shares in the company, valued at $664,324.40. This trade represents a 89.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,900 shares of company stock valued at $12,168,079. 22.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

MDGL has been the topic of a number of research reports. HC Wainwright boosted their target price 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. Cantor Fitzgerald reaffirmed a "neutral" rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, November 20th. Citigroup boosted their target price on shares of Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. B. Riley raised shares of Madrigal Pharmaceuticals from a "hold" rating to a "strong-buy" rating and boosted their target price for the stock from $236.00 to $422.00 in a research note on Thursday, February 27th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $427.00 target price on shares of Madrigal Pharmaceuticals in a research note on Friday, January 10th. Two research analysts have rated the stock with a sell rating, one has given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $378.44.

Madrigal Pharmaceuticals Trading Up 7.8 %

Shares of Madrigal Pharmaceuticals stock traded up $25.33 during trading on Friday, hitting $348.35. The company's stock had a trading volume of 382,054 shares, compared to its average volume of 441,958. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.98 and a quick ratio of 5.93. Madrigal Pharmaceuticals, Inc. has a 52 week low of $189.00 and a 52 week high of $377.46. The stock has a market cap of $7.69 billion, a price-to-earnings ratio of -13.89 and a beta of -0.41. The stock has a 50-day moving average price of $326.55 and a two-hundred day moving average price of $290.50.

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

About Madrigal Pharmaceuticals

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.