Mirae Asset Global Investments Co. Ltd. Buys 30,745 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 50.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 92,253 shares of the biopharmaceutical company’s stock after purchasing an additional 30,745 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 0.46% of Madrigal Pharmaceuticals worth $24,481,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in MDGL. Paulson & CO. Inc. increased its holdings in shares of Madrigal Pharmaceuticals by 121.1% during the 4th quarter. Paulson & CO. Inc. now owns 1,105,741 shares of the biopharmaceutical company’s stock worth $255,846,000 after purchasing an additional 605,741 shares during the period. RTW Investments LP boosted its position in shares of Madrigal Pharmaceuticals by 163.4% during the 4th quarter. RTW Investments LP now owns 815,191 shares of the biopharmaceutical company’s stock valued at $188,619,000 after acquiring an additional 505,706 shares in the last quarter. Avoro Capital Advisors LLC boosted its position in shares of Madrigal Pharmaceuticals by 21.5% during the 4th quarter. Avoro Capital Advisors LLC now owns 1,888,888 shares of the biopharmaceutical company’s stock valued at $437,051,000 after acquiring an additional 333,888 shares in the last quarter. Bain Capital Life Sciences Investors LLC acquired a new stake in shares of Madrigal Pharmaceuticals during the 4th quarter valued at about $75,110,000. Finally, AlpInvest Partners B.V. acquired a new stake in shares of Madrigal Pharmaceuticals during the 4th quarter valued at about $48,934,000. Institutional investors own 98.50% of the company’s stock.

Insider Buying and Selling

In related news, VP Robert E. Waltermire sold 1,036 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $231.34, for a total transaction of $239,668.24. Following the completion of the sale, the vice president now directly owns 5,500 shares of the company’s stock, valued at $1,272,370. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Madrigal Pharmaceuticals news, Director Paul A. Friedman sold 26,270 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $246.19, for a total value of $6,467,411.30. Following the completion of the sale, the director now owns 185,735 shares of the company’s stock, valued at $45,726,099.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Robert E. Waltermire sold 1,036 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $231.34, for a total transaction of $239,668.24. Following the completion of the sale, the vice president now directly owns 5,500 shares of the company’s stock, valued at approximately $1,272,370. The disclosure for this sale can be found here. Insiders sold a total of 56,371 shares of company stock valued at $13,254,807 over the last ninety days. Insiders own 23.92% of the company’s stock.

Madrigal Pharmaceuticals Trading Up 1.8 %

Shares of MDGL traded up $4.88 on Friday, reaching $276.55. 147,307 shares of the company’s stock were exchanged, compared to its average volume of 422,760. The company has a current ratio of 9.39, a quick ratio of 9.39 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $5.89 billion, a P/E ratio of -11.98 and a beta of -0.42. The business has a 50 day moving average price of $245.35 and a two-hundred day moving average price of $238.17. Madrigal Pharmaceuticals, Inc. has a 12 month low of $119.76 and a 12 month high of $299.98.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($7.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($6.06) by ($1.32). During the same period last year, the company earned ($4.23) EPS. Research analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -27.7 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MDGL has been the topic of several recent research reports. Cantor Fitzgerald initiated coverage on shares of Madrigal Pharmaceuticals in a research report on Friday, June 28th. They set a “neutral” rating on the stock. Bank of America initiated coverage on shares of Madrigal Pharmaceuticals in a research report on Monday, April 22nd. They set an “underperform” rating and a $150.00 target price on the stock. HC Wainwright reduced their price target on shares of Madrigal Pharmaceuticals from $425.00 to $390.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Citigroup reduced their price target on shares of Madrigal Pharmaceuticals from $389.00 to $382.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Finally, Wolfe Research initiated coverage on shares of Madrigal Pharmaceuticals in a research report on Tuesday, June 11th. They issued an “outperform” rating and a $382.00 price target on the stock. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Madrigal Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $348.17.

Madrigal Pharmaceuticals Profile

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.