Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. trimmed its position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 8.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,179 shares of the biopharmaceutical company's stock after selling 6,643 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.32% of Madrigal Pharmaceuticals worth $21,870,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in MDGL. China Universal Asset Management Co. Ltd. boosted its position in Madrigal Pharmaceuticals by 10.8% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 4,625 shares of the biopharmaceutical company's stock worth $1,427,000 after purchasing an additional 449 shares in the last quarter. KBC Group NV raised its stake in shares of Madrigal Pharmaceuticals by 73.5% during the 4th quarter. KBC Group NV now owns 609 shares of the biopharmaceutical company's stock worth $188,000 after buying an additional 258 shares during the period. Miracle Mile Advisors LLC purchased a new position in shares of Madrigal Pharmaceuticals during the 4th quarter valued at approximately $216,000. Franklin Resources Inc. grew its stake in Madrigal Pharmaceuticals by 8.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,383 shares of the biopharmaceutical company's stock valued at $298,000 after acquiring an additional 103 shares during the period. Finally, Sanctuary Advisors LLC increased its holdings in Madrigal Pharmaceuticals by 12.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 1,185 shares of the biopharmaceutical company's stock worth $251,000 after acquiring an additional 134 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Madrigal Pharmaceuticals Trading Up 0.7 %

MDGL stock traded up $2.45 during mid-day trading on Friday, hitting $332.72. 306,567 shares of the company were exchanged, compared to its average volume of 484,737. The business has a fifty day simple moving average of $314.48 and a 200-day simple moving average of $277.34. 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, Inc. has a 12-month low of $168.25 and a 12-month high of $368.29. The firm has a market capitalization of $7.26 billion, a P/E ratio of -13.27 and a beta of -0.38.

Insider Activity at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, Director Fred B. Craves sold 3,600 shares of the firm's stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $315.31, for a total transaction of $1,135,116.00. Following the transaction, the director now directly owns 11,000 shares of the company's stock, valued at approximately $3,468,410. This trade represents a 24.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO William John Sibold sold 1,584 shares of the business's stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 54,303 shares in the company, valued at approximately $18,204,537.72. The trade was a 2.83 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,090 shares of company stock worth $3,883,621. Corporate insiders own 22.80% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on MDGL shares. B. Riley lifted their target price on shares of Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the company a "neutral" rating in a research report on Tuesday, November 5th. HC Wainwright lifted their price objective on Madrigal Pharmaceuticals from $390.00 to $400.00 and gave the stock a "buy" rating in a report on Tuesday, January 14th. JMP Securities reissued a "market outperform" rating and set a $427.00 target price on shares of Madrigal Pharmaceuticals in a report on Friday, January 10th. Oppenheimer lowered their price target on Madrigal Pharmaceuticals from $375.00 to $350.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 23rd. Finally, UBS Group increased their price objective on Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a "buy" rating in a research note on Friday, November 1st. Two analysts have rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Madrigal Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average price target of $351.67.

Madrigal Pharmaceuticals 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.