Swiss National Bank Buys 600 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Swiss National Bank lifted its stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 2.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,600 shares of the biopharmaceutical company’s stock after purchasing an additional 600 shares during the quarter. Swiss National Bank owned about 0.12% of Madrigal Pharmaceuticals worth $7,899,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in MDGL. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Madrigal Pharmaceuticals in the 4th quarter worth approximately $70,000. Quest Partners LLC raised its holdings in Madrigal Pharmaceuticals by 172.8% in the 3rd quarter. Quest Partners LLC now owns 581 shares of the biopharmaceutical company’s stock worth $123,000 after acquiring an additional 368 shares during the last quarter. KBC Group NV raised its holdings in Madrigal Pharmaceuticals by 73.5% in the 4th quarter. KBC Group NV now owns 609 shares of the biopharmaceutical company’s stock worth $188,000 after acquiring an additional 258 shares during the last quarter. Miracle Mile Advisors LLC purchased a new position in Madrigal Pharmaceuticals in the 4th quarter worth approximately $216,000. Finally, D.A. Davidson & CO. purchased a new position in Madrigal Pharmaceuticals in the 4th quarter worth approximately $221,000. 98.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. B. Riley upgraded 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 report on Thursday, February 27th. 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 report on Thursday, February 27th. JMP Securities restated a “market outperform” rating and issued a $427.00 price objective on shares of Madrigal Pharmaceuticals in a report on Friday, January 10th. 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 investment analysts have rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $378.44.

Madrigal Pharmaceuticals Trading Up 1.9 %

NASDAQ:MDGL opened at $341.62 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.98 and a quick ratio of 5.93. The firm has a market capitalization of $7.54 billion, a price-to-earnings ratio of -13.62 and a beta of -0.40. Madrigal Pharmaceuticals, Inc. has a one year low of $189.00 and a one year high of $377.46. The business has a fifty day moving average price of $327.53 and a 200-day moving average price of $293.37.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings data on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) EPS for the quarter, topping the consensus estimate of ($4.32) by $1.61. The company had revenue of $103.32 million during the quarter, compared to analysts’ expectations of $97.81 million. Sell-side analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current year.

Insider Transactions at Madrigal Pharmaceuticals

In related news, VP Robert E. Waltermire sold 442 shares of the company’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $273.41, for a total value of $120,847.22. Following the completion of the transaction, the vice president now owns 5,058 shares of the company’s stock, valued at approximately $1,382,907.78. This represents a 8.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director James M. Daly sold 15,470 shares of the company’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $347.45, for a total transaction of $5,375,051.50. Following the completion of the transaction, the director now directly owns 1,912 shares of the company’s stock, valued at $664,324.40. This represents a 89.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,900 shares of company stock worth $12,168,079 in the last three months. Corporate insiders own 22.80% of the company’s stock.

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.