Baader Bank Aktiengesellschaft Sells 1,033 Shares of Madrigal Pharmaceuticals, Inc. $MDGL

Baader Bank Aktiengesellschaft lowered its stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 53.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 902 shares of the biopharmaceutical company’s stock after selling 1,033 shares during the quarter. Baader Bank Aktiengesellschaft’s holdings in Madrigal Pharmaceuticals were worth $525,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Madrigal Pharmaceuticals during the fourth quarter valued at about $466,000. Pier 88 Investment Partners LLC bought a new stake in Madrigal Pharmaceuticals during the fourth quarter valued at about $629,000. Swiss Life Asset Management Ltd boosted its position in Madrigal Pharmaceuticals by 6.8% during the fourth quarter. Swiss Life Asset Management Ltd now owns 690 shares of the biopharmaceutical company’s stock valued at $402,000 after purchasing an additional 44 shares in the last quarter. Strs Ohio boosted its position in Madrigal Pharmaceuticals by 50.0% during the fourth quarter. Strs Ohio now owns 3,300 shares of the biopharmaceutical company’s stock valued at $1,922,000 after purchasing an additional 1,100 shares in the last quarter. Finally, Danske Bank A S bought a new stake in Madrigal Pharmaceuticals during the fourth quarter valued at about $116,000. Institutional investors own 98.50% of the company’s stock.

Insider Transactions at Madrigal Pharmaceuticals

In other news, General Counsel Shannon T. Kelley sold 360 shares of the firm’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $431.94, for a total value of $155,498.40. Following the completion of the transaction, the general counsel directly owned 12,138 shares in the company, valued at $5,242,887.72. This trade represents a 2.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Mardi Dier sold 1,982 shares of the firm’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $430.87, for a total value of $853,984.34. Following the completion of the transaction, the chief financial officer owned 12,490 shares of the company’s stock, valued at approximately $5,381,566.30. The trade was a 13.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 6,098 shares of company stock valued at $2,626,254. 17.60% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on MDGL shares. Bank of America lowered their price target on Madrigal Pharmaceuticals from $570.00 to $529.00 and set a “neutral” rating for the company in a report on Friday, February 20th. Zacks Research raised Madrigal Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Friday, February 20th. Canaccord Genuity Group lowered their price target on Madrigal Pharmaceuticals from $587.00 to $578.00 and set a “buy” rating for the company in a report on Thursday, May 7th. HC Wainwright reissued a “buy” rating and issued a $620.00 price target on shares of Madrigal Pharmaceuticals in a report on Wednesday, May 6th. Finally, Evercore set a $649.00 price target on Madrigal Pharmaceuticals in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $687.00.

Madrigal Pharmaceuticals Price Performance

Shares of NASDAQ MDGL opened at $523.69 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.16 and a current ratio of 3.50. The company has a market cap of $12.08 billion, a PE ratio of -40.91 and a beta of -1.04. The business has a 50-day simple moving average of $498.23 and a two-hundred day simple moving average of $510.38. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $265.00 and a fifty-two week high of $615.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($3.25) earnings per share for the quarter, topping the consensus estimate of ($3.61) by $0.36. The business had revenue of $311.34 million during the quarter, compared to the consensus estimate of $301.05 million. Madrigal Pharmaceuticals had a negative return on equity of 50.15% and a negative net margin of 27.32%.The company’s quarterly revenue was up 126.8% on a year-over-year basis. During the same quarter last year, the company earned ($3.32) earnings per share. As a group, equities analysts expect that Madrigal Pharmaceuticals, Inc. will post -6.49 EPS for the current fiscal year.

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.