E Fund Management Co. Ltd. Acquires 514 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

E Fund Management Co. Ltd. lifted its holdings in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 30.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,212 shares of the biopharmaceutical company’s stock after acquiring an additional 514 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Madrigal Pharmaceuticals were worth $620,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in MDGL. Rhenman & Partners Asset Management AB bought a new stake in Madrigal Pharmaceuticals in the 4th quarter valued at $5,206,000. Norges Bank bought a new stake in Madrigal Pharmaceuticals in the 4th quarter valued at $33,686,000. Paulson & CO. Inc. boosted its stake in Madrigal Pharmaceuticals by 121.1% in the 4th quarter. Paulson & CO. Inc. now owns 1,105,741 shares of the biopharmaceutical company’s stock valued at $255,846,000 after purchasing an additional 605,741 shares during the period. Rheos Capital Works Inc. bought a new stake in Madrigal Pharmaceuticals in the 1st quarter valued at $29,432,000. Finally, AMI Asset Management Corp boosted its stake in Madrigal Pharmaceuticals by 101.5% in the 1st quarter. AMI Asset Management Corp now owns 9,618 shares of the biopharmaceutical company’s stock valued at $2,568,000 after purchasing an additional 4,845 shares during the period. 98.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on MDGL shares. Citigroup reduced their price target on Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Evercore ISI dropped their price objective on Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Wolfe Research initiated coverage on Madrigal Pharmaceuticals in a report on Tuesday, June 11th. They issued an “outperform” rating and a $382.00 price objective for the company. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Madrigal Pharmaceuticals in a report on Tuesday, July 23rd. Finally, JMP Securities lifted their price objective on Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the company a “market outperform” rating in a report on Tuesday, July 16th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $343.83.

Insider Buying and Selling

In related news, CEO William John Sibold sold 6,363 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $243.83, for a total transaction of $1,551,490.29. Following the sale, the chief executive officer now owns 55,887 shares in the company, valued at approximately $13,626,927.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 23.92% of the stock is currently owned by corporate insiders.

Madrigal Pharmaceuticals Price Performance

Madrigal Pharmaceuticals stock opened at $233.16 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 8.67 and a current ratio of 8.72. Madrigal Pharmaceuticals, Inc. has a 52 week low of $119.76 and a 52 week high of $299.98. The stock has a market capitalization of $4.97 billion, a P/E ratio of -10.10 and a beta of -0.43. The stock has a fifty day moving average of $257.48 and a 200-day moving average of $250.23.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($7.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($7.55) by $0.45. The firm had revenue of $14.64 million for the quarter, compared to the consensus estimate of $4.25 million. The company’s revenue was up 146280.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($4.69) EPS. On average, sell-side analysts expect that Madrigal Pharmaceuticals, Inc. will post -27.67 earnings per share for the current fiscal year.

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.