Mirae Asset Global Investments Co. Ltd. Decreases Holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Mirae Asset Global Investments Co. Ltd. decreased its holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 8.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 70,179 shares of the biopharmaceutical company’s stock after selling 6,643 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Madrigal Pharmaceuticals were worth $21,870,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Paulson & CO. Inc. boosted its position in Madrigal Pharmaceuticals by 10.4% during the third quarter. Paulson & CO. Inc. now owns 2,042,000 shares of the biopharmaceutical company’s stock valued at $433,353,000 after buying an additional 192,000 shares during the period. RTW Investments LP lifted its stake in shares of Madrigal Pharmaceuticals by 4.1% in the 3rd quarter. RTW Investments LP now owns 1,993,687 shares of the biopharmaceutical company’s stock valued at $423,100,000 after acquiring an additional 77,825 shares during the last quarter. State Street Corp boosted its stake 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 valued at $188,399,000 after purchasing an additional 143,038 shares during the period. Geode Capital Management LLC raised its holdings in Madrigal Pharmaceuticals by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 405,655 shares of the biopharmaceutical company’s stock valued at $86,104,000 after buying an additional 5,801 shares during the last quarter. Finally, Erste Asset Management GmbH purchased a new stake in Madrigal Pharmaceuticals during the 3rd quarter valued at $49,749,000. Institutional investors own 98.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. JMP Securities restated a “market outperform” rating and issued a $427.00 price objective on shares of Madrigal Pharmaceuticals in a research report on Friday, January 10th. HC Wainwright boosted their price target on Madrigal Pharmaceuticals from $390.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. StockNews.com upgraded Madrigal Pharmaceuticals to a “sell” rating in a report on Saturday, October 12th. Cantor Fitzgerald reissued a “neutral” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, November 20th. Finally, UBS Group upped their target price on Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a “buy” rating in a report on Friday, November 1st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $351.67.

Madrigal Pharmaceuticals Stock Up 5.3 %

NASDAQ:MDGL opened at $339.97 on Thursday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.93 and a current ratio of 5.98. The firm has a market cap of $7.41 billion, a P/E ratio of -13.56 and a beta of -0.38. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $168.25 and a fifty-two week high of $368.29. The firm has a 50-day simple moving average of $314.42 and a two-hundred day simple moving average of $276.65.

Insider Activity

In other news, VP Robert E. Waltermire sold 103 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 transaction of $34,529.72. Following the completion of the transaction, the vice president now directly owns 4,955 shares of the company’s stock, valued at $1,661,114.20. The trade was a 2.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William John Sibold sold 1,584 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 54,303 shares in the company, valued at $18,204,537.72. This represents a 2.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,090 shares of company stock worth $3,883,621 over the last 90 days. 22.80% of the stock is currently owned by insiders.

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.