Assetmark Inc. Grows Stock Holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Assetmark Inc. increased its stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 8.3% during the 3rd quarter, Holdings Channel reports. The fund owned 3,942 shares of the biopharmaceutical company’s stock after purchasing an additional 303 shares during the quarter. Assetmark Inc.’s holdings in Madrigal Pharmaceuticals were worth $837,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC purchased a new position in shares of Madrigal Pharmaceuticals during the first quarter worth about $102,000. SG Americas Securities LLC purchased a new stake in Madrigal Pharmaceuticals in the 1st quarter valued at approximately $360,000. Oppenheimer & Co. Inc. acquired a new position in Madrigal Pharmaceuticals during the 1st quarter worth approximately $326,000. Swiss National Bank increased its position in Madrigal Pharmaceuticals by 9.3% during the 1st quarter. Swiss National Bank now owns 23,400 shares of the biopharmaceutical company’s stock worth $6,249,000 after purchasing an additional 2,000 shares during the period. Finally, Russell Investments Group Ltd. acquired a new stake in shares of Madrigal Pharmaceuticals in the 1st quarter worth approximately $1,466,000. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, Director Richard S. Levy sold 5,000 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $300.94, for a total value of $1,504,700.00. Following the completion of the transaction, the director now owns 11,012 shares of the company’s stock, valued at approximately $3,313,951.28. The trade was a 31.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William John Sibold sold 6,363 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $243.83, for a total value of $1,551,490.29. Following the completion of the transaction, the chief executive officer now directly owns 55,887 shares of the company’s stock, valued at approximately $13,626,927.21. This trade represents a 10.22 % decrease in their position. The disclosure for this sale can be found here. 22.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on MDGL shares. UBS Group upped their target price on Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a “buy” rating in a research note on Friday, November 1st. StockNews.com upgraded Madrigal Pharmaceuticals to a “sell” rating in a report on Saturday, October 12th. HC Wainwright reiterated a “buy” rating and issued a $390.00 price target on shares of Madrigal Pharmaceuticals in a report on Tuesday, October 22nd. B. Riley increased their price target on shares of Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Madrigal Pharmaceuticals in a report on Friday, October 11th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Madrigal Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $347.33.

Madrigal Pharmaceuticals Stock Performance

Shares of MDGL stock opened at $288.58 on Friday. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15. The firm has a fifty day simple moving average of $242.95 and a two-hundred day simple moving average of $250.20. Madrigal Pharmaceuticals, Inc. has a 12 month low of $160.15 and a 12 month high of $368.29. The firm has a market capitalization of $6.29 billion, a PE ratio of -11.51 and a beta of -0.46.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share for the quarter, beating the consensus estimate of ($6.94) by $2.02. The company had revenue of $62.18 million for the quarter, compared to the consensus estimate of $34.60 million. During the same quarter in the previous year, the company posted ($5.34) EPS. Analysts forecast that Madrigal Pharmaceuticals, Inc. will post -24.08 EPS for the current fiscal year.

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.