Madrigal Pharmaceuticals, Inc. $MDGL Shares Bought by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ raised its position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 361.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,363 shares of the biopharmaceutical company’s stock after buying an additional 14,385 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned approximately 0.08% of Madrigal Pharmaceuticals worth $8,435,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. China Universal Asset Management Co. Ltd. raised its position in Madrigal Pharmaceuticals by 0.7% in the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 4,459 shares of the biopharmaceutical company’s stock valued at $1,349,000 after purchasing an additional 30 shares during the last quarter. Orion Porfolio Solutions LLC increased its stake in Madrigal Pharmaceuticals by 1.3% in the second quarter. Orion Porfolio Solutions LLC now owns 3,638 shares of the biopharmaceutical company’s stock valued at $1,101,000 after purchasing an additional 47 shares during the period. GAMMA Investing LLC raised its holdings in shares of Madrigal Pharmaceuticals by 114.3% in the third quarter. GAMMA Investing LLC now owns 90 shares of the biopharmaceutical company’s stock valued at $41,000 after buying an additional 48 shares during the last quarter. Global Retirement Partners LLC raised its holdings in shares of Madrigal Pharmaceuticals by 221.7% in the third quarter. Global Retirement Partners LLC now owns 74 shares of the biopharmaceutical company’s stock valued at $34,000 after buying an additional 51 shares during the last quarter. Finally, XTX Topco Ltd boosted its stake in shares of Madrigal Pharmaceuticals by 4.6% during the second quarter. XTX Topco Ltd now owns 1,238 shares of the biopharmaceutical company’s stock worth $375,000 after buying an additional 54 shares during the period. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Madrigal Pharmaceuticals Stock Up 0.9%

Shares of NASDAQ MDGL opened at $491.49 on Thursday. The stock has a market capitalization of $11.16 billion, a price-to-earnings ratio of -37.78, a price-to-earnings-growth ratio of 6.92 and a beta of -1.01. Madrigal Pharmaceuticals, Inc. has a 52 week low of $265.00 and a 52 week high of $615.00. The firm has a 50-day moving average price of $527.03 and a 200 day moving average price of $480.76. The company has a quick ratio of 3.26, a current ratio of 3.44 and a debt-to-equity ratio of 0.54.

Insider Transactions at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, Director Paul A. Friedman sold 24,800 shares of the business’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $552.18, for a total transaction of $13,694,064.00. Following the sale, the director directly owned 187,164 shares in the company, valued at approximately $103,348,217.52. The trade was a 11.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William John Sibold sold 2,400 shares of the firm’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $575.34, for a total value of $1,380,816.00. Following the completion of the transaction, the chief executive officer owned 150,074 shares of the company’s stock, valued at approximately $86,343,575.16. This represents a 1.57% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 101,495 shares of company stock worth $54,568,691 over the last ninety days. 21.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

MDGL has been the subject of several analyst reports. Piper Sandler upped their price objective on Madrigal Pharmaceuticals from $540.00 to $900.00 and gave the company an “overweight” rating in a research note on Friday, December 19th. Bank of America upgraded Madrigal Pharmaceuticals from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $266.00 to $445.00 in a research note on Monday, November 3rd. HC Wainwright lifted their price objective on shares of Madrigal Pharmaceuticals from $568.00 to $620.00 and gave the company a “buy” rating in a research report on Friday, November 21st. Zacks Research downgraded shares of Madrigal Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research report on Monday, January 12th. Finally, Citizens Jmp raised their target price on shares of Madrigal Pharmaceuticals from $527.00 to $745.00 and gave the stock a “market outperform” rating in a research note on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Madrigal Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $663.86.

Madrigal Pharmaceuticals Profile

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.