E Fund Management Co. Ltd. Sells 508 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

E Fund Management Co. Ltd. lessened its position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 17.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 2,355 shares of the biopharmaceutical company’s stock after selling 508 shares during the period. E Fund Management Co. Ltd.’s holdings in Madrigal Pharmaceuticals were worth $727,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new stake in shares of Madrigal Pharmaceuticals during the 4th quarter valued at about $16,615,000. Dana Investment Advisors Inc. boosted its stake in shares of Madrigal Pharmaceuticals by 15.8% during the 4th quarter. Dana Investment Advisors Inc. now owns 4,151 shares of the biopharmaceutical company’s stock valued at $1,281,000 after purchasing an additional 567 shares in the last quarter. Arizona State Retirement System boosted its stake in shares of Madrigal Pharmaceuticals by 2.5% during the 4th quarter. Arizona State Retirement System now owns 3,774 shares of the biopharmaceutical company’s stock valued at $1,165,000 after purchasing an additional 91 shares in the last quarter. Aigen Investment Management LP bought a new stake in shares of Madrigal Pharmaceuticals during the 4th quarter valued at about $546,000. Finally, Proficio Capital Partners LLC bought a new stake in shares of Madrigal Pharmaceuticals during the 4th quarter valued at about $5,332,000. Institutional investors own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Stock Up 0.8 %

Shares of Madrigal Pharmaceuticals stock opened at $331.41 on Friday. 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 stock has a market capitalization of $7.32 billion, a PE ratio of -13.21 and a beta of -0.38. Madrigal Pharmaceuticals, Inc. has a 52-week low of $189.00 and a 52-week high of $377.46. The company has a 50-day simple moving average of $324.53 and a two-hundred day simple moving average of $287.54.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued 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 firm had revenue of $103.32 million during the quarter, compared to analysts’ expectations of $97.81 million. On average, analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current fiscal year.

Insider Activity

In other news, VP Robert E. Waltermire sold 442 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $273.41, for a total transaction of $120,847.22. Following the completion of the transaction, the vice president now directly owns 5,058 shares of the company’s stock, valued at $1,382,907.78. The trade was a 8.04 % 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, General Counsel Shannon T. Kelley sold 277 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $273.41, for a total transaction of $75,734.57. Following the transaction, the general counsel now directly owns 7,705 shares of the company’s stock, valued at $2,106,624.05. The trade was a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,900 shares of company stock valued at $12,168,079 over the last three months. Insiders own 22.80% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.