Madrigal Pharmaceuticals, Inc. $MDGL Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. decreased its holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 28.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,578 shares of the biopharmaceutical company’s stock after selling 19,981 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 0.23% of Madrigal Pharmaceuticals worth $23,198,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of MDGL. Mather Group LLC. acquired a new stake in shares of Madrigal Pharmaceuticals during the third quarter worth about $33,000. Global Retirement Partners LLC raised its stake in Madrigal Pharmaceuticals by 221.7% during the 3rd quarter. Global Retirement Partners LLC now owns 74 shares of the biopharmaceutical company’s stock valued at $34,000 after acquiring an additional 51 shares during the last quarter. First Horizon Corp acquired a new stake in Madrigal Pharmaceuticals during the 3rd quarter worth approximately $34,000. AlphaQuest LLC grew its stake in shares of Madrigal Pharmaceuticals by 412.5% in the 2nd quarter. AlphaQuest LLC now owns 82 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 66 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Madrigal Pharmaceuticals by 114.3% in the 3rd quarter. GAMMA Investing LLC now owns 90 shares of the biopharmaceutical company’s stock valued at $41,000 after purchasing an additional 48 shares during the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Madrigal Pharmaceuticals Stock Performance

NASDAQ:MDGL opened at $494.69 on Friday. The firm’s fifty day simple moving average is $554.76 and its 200-day simple moving average is $463.39. The company has a quick ratio of 3.26, a current ratio of 3.44 and a debt-to-equity ratio of 0.54. The stock has a market cap of $11.23 billion, a PE ratio of -38.02, a price-to-earnings-growth ratio of 4.90 and a beta of -1.00. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $265.00 and a fifty-two week high of $615.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings data on Tuesday, November 4th. The biopharmaceutical company reported ($5.08) EPS for the quarter, missing analysts’ consensus estimates of ($2.01) by ($3.07). Madrigal Pharmaceuticals had a negative return on equity of 41.50% and a negative net margin of 39.04%. Analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

Insider Buying and Selling at Madrigal Pharmaceuticals

In related news, Director Rebecca Taub sold 647 shares of the company’s stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $492.42, for a total value of $318,595.74. Following the sale, the director owned 452,704 shares in the company, valued at $222,920,503.68. This represents a 0.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO William John Sibold sold 1,577 shares of the firm’s stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $492.42, for a total value of $776,546.34. Following the completion of the transaction, the chief executive officer directly owned 148,497 shares of the company’s stock, valued at $73,122,892.74. The trade was a 1.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 126,570 shares of company stock worth $67,024,124. Corporate insiders own 21.50% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on MDGL shares. TD Cowen reaffirmed a “buy” rating on shares of Madrigal Pharmaceuticals in a report on Monday, January 12th. Citizens Jmp upped their price objective on shares of Madrigal Pharmaceuticals from $527.00 to $745.00 and gave the stock a “market outperform” rating in a research report on Tuesday, January 20th. UBS Group set a $900.00 target price on shares of Madrigal Pharmaceuticals in a research note on Friday, December 19th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a research note on Thursday, January 22nd. Finally, Zacks Research cut shares of Madrigal Pharmaceuticals from a “hold” rating to a “strong sell” rating in a report on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $654.73.

About Madrigal Pharmaceuticals

Madrigal Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the development of innovative therapies for cardiovascular, metabolic and liver diseases. The company’s pipeline centers on novel, liver-directed agents designed to address significant unmet medical needs, with an emphasis on nonalcoholic steatohepatitis (NASH) and related metabolic disorders.

The lead product candidate, resmetirom (MGL-3196), is an orally administered, selective thyroid hormone receptor-β agonist in Phase 3 development for the treatment of NASH.