E Fund Management Co. Ltd. Decreases Stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

E Fund Management Co. Ltd. decreased its position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 17.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. 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 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Raymond James Financial Inc. bought a new position in shares of Madrigal Pharmaceuticals during the 4th quarter valued at approximately $16,615,000. Dana Investment Advisors Inc. grew its position 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 acquiring an additional 567 shares during the period. Arizona State Retirement System boosted its holdings in Madrigal Pharmaceuticals by 2.5% in the 4th quarter. Arizona State Retirement System now owns 3,774 shares of the biopharmaceutical company’s stock worth $1,165,000 after buying an additional 91 shares during the period. Aigen Investment Management LP bought a new position in Madrigal Pharmaceuticals in the 4th quarter worth approximately $546,000. Finally, Proficio Capital Partners LLC bought a new position in Madrigal Pharmaceuticals in the 4th quarter worth approximately $5,332,000. 98.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In related news, CMO Rebecca Taub sold 1,689 shares of Madrigal Pharmaceuticals stock in a transaction on Friday, January 17th. The shares were sold at an average price of $273.41, for a total value of $461,789.49. Following the transaction, the chief marketing officer now owns 457,310 shares in the company, valued at $125,033,127.10. This trade represents a 0.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James M. Daly sold 15,470 shares of Madrigal Pharmaceuticals 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 owns 1,912 shares in the company, valued at approximately $664,324.40. The trade was a 89.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,900 shares of company stock worth $12,168,079 in the last 90 days. 22.80% of the stock is owned by company insiders.

Madrigal Pharmaceuticals Stock Performance

Madrigal Pharmaceuticals stock opened at $331.41 on Friday. The stock has a market cap of $7.32 billion, a P/E ratio of -13.21 and a beta of -0.38. The firm’s fifty day moving average price is $324.53 and its 200-day moving average price is $287.54. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $189.00 and a fifty-two week high of $377.46. 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 earnings results on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) EPS for the quarter, topping analysts’ consensus estimates of ($4.32) by $1.61. The business had revenue of $103.32 million during the quarter, compared to analysts’ expectations of $97.81 million. On average, equities research analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

Madrigal Pharmaceuticals Company 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.