Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Shares Sold by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ lessened its position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 12.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,798 shares of the biopharmaceutical company's stock after selling 1,157 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in Madrigal Pharmaceuticals were worth $2,431,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC purchased a new position in Madrigal Pharmaceuticals during the fourth quarter valued at $70,000. Quest Partners LLC increased its holdings in shares of Madrigal Pharmaceuticals by 172.8% in the 3rd quarter. Quest Partners LLC now owns 581 shares of the biopharmaceutical company's stock worth $123,000 after purchasing an additional 368 shares in the last quarter. KBC Group NV increased its holdings in shares of Madrigal Pharmaceuticals by 73.5% in the 4th quarter. KBC Group NV now owns 609 shares of the biopharmaceutical company's stock worth $188,000 after purchasing an additional 258 shares in the last quarter. Miracle Mile Advisors LLC bought a new stake in shares of Madrigal Pharmaceuticals in the 4th quarter worth $216,000. Finally, D.A. Davidson & CO. bought a new stake in shares of Madrigal Pharmaceuticals in the 4th quarter worth $221,000. Hedge funds and other institutional investors own 98.50% of the company's stock.

Insider Activity at Madrigal Pharmaceuticals

In related news, CMO Rebecca Taub sold 1,689 shares of Madrigal Pharmaceuticals stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $273.41, for a total value of $461,789.49. Following the completion of the transaction, the chief marketing officer now owns 457,310 shares in the company, valued at $125,033,127.10. The trade was a 0.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Robert E. Waltermire sold 103 shares of Madrigal Pharmaceuticals stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $335.24, for a total value of $34,529.72. Following the completion of the transaction, the vice president now owns 4,955 shares of the company's stock, valued at approximately $1,661,114.20. This represents a 2.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,900 shares of company stock worth $12,168,079 in the last 90 days. Corporate insiders own 22.80% of the company's stock.

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Madrigal Pharmaceuticals Stock Performance

Shares of NASDAQ MDGL traded down $5.64 during trading on Thursday, reaching $335.13. 163,569 shares of the company traded hands, compared to its average volume of 390,795. The firm's fifty day simple moving average is $327.44 and its 200 day simple moving average is $292.42. The stock has a market cap of $7.40 billion, a P/E ratio of -13.36 and a beta of -0.40. Madrigal Pharmaceuticals, Inc. has a 12-month low of $189.00 and a 12-month 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 results on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) earnings per share for the quarter, beating the consensus estimate of ($4.32) by $1.61. The business had revenue of $103.32 million during the quarter, compared to analysts' expectations of $97.81 million. As a group, research analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on the company. JMP Securities reaffirmed a "market outperform" rating and issued a $427.00 price objective on shares of Madrigal Pharmaceuticals in a report on Friday, January 10th. HC Wainwright upped their price objective on 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 reissued a "neutral" rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, November 20th. Citigroup increased their price target on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Finally, B. Riley raised Madrigal Pharmaceuticals from a "hold" rating to a "strong-buy" rating and lifted their price target for the stock from $236.00 to $422.00 in a research report on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Madrigal Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus price target of $378.44.

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.