Groupama Asset Managment Raises Stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Groupama Asset Managment raised its position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 89.5% during the fourth quarter, HoldingsChannel reports. The firm owned 24,324 shares of the biopharmaceutical company’s stock after buying an additional 11,487 shares during the quarter. Groupama Asset Managment’s holdings in Madrigal Pharmaceuticals were worth $7,580,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of MDGL. Geode Capital Management LLC lifted its position in shares of Madrigal Pharmaceuticals by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 410,578 shares of the biopharmaceutical company’s stock worth $126,719,000 after purchasing an additional 4,923 shares during the last quarter. Franklin Resources Inc. raised its stake in Madrigal Pharmaceuticals by 340.1% in the fourth quarter. Franklin Resources Inc. now owns 6,087 shares of the biopharmaceutical company’s stock valued at $1,878,000 after buying an additional 4,704 shares in the last quarter. Pictet Asset Management Holding SA lifted its holdings in Madrigal Pharmaceuticals by 38.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 208,484 shares of the biopharmaceutical company’s stock worth $64,332,000 after buying an additional 57,886 shares during the last quarter. Norges Bank purchased a new stake in Madrigal Pharmaceuticals during the 4th quarter worth about $35,514,000. Finally, Prudential Financial Inc. boosted its position in shares of Madrigal Pharmaceuticals by 166.2% during the 4th quarter. Prudential Financial Inc. now owns 3,655 shares of the biopharmaceutical company’s stock worth $1,128,000 after acquiring an additional 2,282 shares in the last quarter. 98.50% of the stock is owned by hedge funds and other institutional investors.

Madrigal Pharmaceuticals Trading Down 2.2 %

NASDAQ MDGL opened at $323.98 on Wednesday. Madrigal Pharmaceuticals, Inc. has a one year low of $189.00 and a one year high of $377.46. The firm has a market cap of $7.15 billion, a PE ratio of -12.92 and a beta of -0.41. The firm’s fifty day moving average is $334.02 and its two-hundred day moving average is $298.83. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.93 and a current ratio of 5.98.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings results on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) earnings per share (EPS) for the quarter, beating the consensus estimate of ($4.32) by $1.61. The company had revenue of $103.32 million during the quarter, compared to analyst estimates of $97.81 million. Analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current year.

Insider Activity

In related news, CEO William John Sibold sold 1,584 shares of the firm’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $335.24, for a total value 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 trade represents a 2.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James M. Daly sold 15,470 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $347.45, for a total value of $5,375,051.50. Following the transaction, the director now owns 1,912 shares in the company, valued at $664,324.40. The trade was a 89.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 35,900 shares of company stock valued at $12,168,079. Company insiders own 22.80% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. JMP Securities reissued a “market outperform” rating and set a $427.00 target price on shares of Madrigal Pharmaceuticals in a research report on Friday, January 10th. Citigroup raised 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. B. Riley upgraded shares of Madrigal Pharmaceuticals from a “hold” rating to a “strong-buy” rating and upped their target price for the company from $236.00 to $422.00 in a report on Thursday, February 27th. Finally, HC Wainwright lifted their price target on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $378.44.

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.