Assetmark Inc. Buys 238 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Assetmark Inc. grew its stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 6.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,180 shares of the biopharmaceutical company’s stock after buying an additional 238 shares during the period. Assetmark Inc.’s holdings in Madrigal Pharmaceuticals were worth $1,290,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Erste Asset Management GmbH purchased a new position in Madrigal Pharmaceuticals during the third quarter worth about $49,749,000. Paulson & CO. Inc. boosted its position in shares of Madrigal Pharmaceuticals by 10.4% during the 3rd quarter. Paulson & CO. Inc. now owns 2,042,000 shares of the biopharmaceutical company’s stock valued at $433,353,000 after acquiring an additional 192,000 shares during the last quarter. Braidwell LP purchased a new position in shares of Madrigal Pharmaceuticals during the third quarter worth about $39,010,000. State Street Corp grew its holdings in shares of Madrigal Pharmaceuticals by 19.2% during the third quarter. State Street Corp now owns 887,752 shares of the biopharmaceutical company’s stock worth $188,399,000 after purchasing an additional 143,038 shares in the last quarter. Finally, RTW Investments LP increased its position in shares of Madrigal Pharmaceuticals by 4.1% in the third quarter. RTW Investments LP now owns 1,993,687 shares of the biopharmaceutical company’s stock worth $423,100,000 after purchasing an additional 77,825 shares during the last quarter. 98.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other news, VP Robert E. Waltermire sold 14,113 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $341.32, for a total transaction of $4,817,049.16. Following the sale, the vice president now owns 3,728 shares in the company, valued at approximately $1,272,440.96. The trade was a 79.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO William John Sibold sold 1,584 shares of the stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $335.24, for a total transaction of $531,020.16. Following the completion of the transaction, the chief executive officer now owns 54,303 shares of the company’s stock, valued at approximately $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. In the last ninety days, insiders have sold 35,900 shares of company stock valued at $12,168,079. 22.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on MDGL shares. B. Riley upgraded shares of Madrigal Pharmaceuticals from a “hold” rating to a “strong-buy” rating and lifted their target price for the company from $236.00 to $422.00 in a research report on Thursday, February 27th. JMP Securities reaffirmed a “market outperform” rating and set a $427.00 price objective on shares of Madrigal Pharmaceuticals in a report on Friday, January 10th. Cantor Fitzgerald reissued a “neutral” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, November 20th. Citigroup boosted their target price on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Finally, HC Wainwright boosted their price objective on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $375.75.

Madrigal Pharmaceuticals Trading Up 1.9 %

Shares of MDGL opened at $335.39 on Wednesday. The stock has a market capitalization of $7.41 billion, a P/E ratio of -13.37 and a beta of -0.41. Madrigal Pharmaceuticals, Inc. has a twelve month low of $189.00 and a twelve month high of $377.46. The company has a quick ratio of 5.93, a current ratio of 5.98 and a debt-to-equity ratio of 0.15. The firm has a fifty day simple moving average of $325.42 and a two-hundred day simple moving average of $289.11.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its earnings results on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) earnings per share (EPS) for the quarter, topping the consensus estimate 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, research analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current year.

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.