J. Safra Sarasin Holding AG Sells 4,426 Shares of Madrigal Pharmaceuticals, Inc. $MDGL

J. Safra Sarasin Holding AG trimmed its position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 64.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,397 shares of the biopharmaceutical company’s stock after selling 4,426 shares during the period. J. Safra Sarasin Holding AG’s holdings in Madrigal Pharmaceuticals were worth $1,099,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. AlphaQuest LLC grew its position in shares of Madrigal Pharmaceuticals by 412.5% in the 2nd quarter. AlphaQuest LLC now owns 82 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 66 shares during the period. Mather Group LLC. purchased a new position in Madrigal Pharmaceuticals during the 3rd quarter valued at about $33,000. Global Retirement Partners LLC boosted its stake in Madrigal Pharmaceuticals by 221.7% during the third quarter. Global Retirement Partners LLC now owns 74 shares of the biopharmaceutical company’s stock worth $34,000 after acquiring an additional 51 shares in the last quarter. First Horizon Corp purchased a new stake in Madrigal Pharmaceuticals in the third quarter worth about $34,000. Finally, GAMMA Investing LLC increased its stake in shares of Madrigal Pharmaceuticals by 114.3% during the third quarter. GAMMA Investing LLC now owns 90 shares of the biopharmaceutical company’s stock valued at $41,000 after purchasing an additional 48 shares in the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Stock Down 0.8%

Madrigal Pharmaceuticals stock opened at $496.54 on Thursday. Madrigal Pharmaceuticals, Inc. has a 12 month low of $265.00 and a 12 month high of $615.00. The stock has a fifty day simple moving average of $555.71 and a two-hundred day simple moving average of $463.17. The company has a current ratio of 3.44, a quick ratio of 3.26 and a debt-to-equity ratio of 0.54. The firm has a market cap of $11.28 billion, a price-to-earnings ratio of -38.17, a PEG ratio of 4.94 and a beta of -1.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings data on Tuesday, November 4th. The biopharmaceutical company reported ($5.08) EPS for the quarter, missing the consensus estimate of ($2.01) by ($3.07). Madrigal Pharmaceuticals had a negative net margin of 39.04% and a negative return on equity of 41.50%. Equities analysts predict that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current fiscal year.

Insider Activity

In other news, General Counsel Shannon T. Kelley sold 692 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $497.36, for a total value of $344,173.12. Following the completion of the sale, the general counsel directly owned 8,481 shares in the company, valued at $4,218,110.16. The trade was a 7.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Paul A. Friedman sold 24,520 shares of the stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $522.39, for a total transaction of $12,809,002.80. Following the transaction, the director owned 187,164 shares in the company, valued at approximately $97,772,601.96. This trade represents a 11.58% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 126,570 shares of company stock worth $67,024,124. 21.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

MDGL has been the subject of several recent research reports. Barclays assumed coverage on shares of Madrigal Pharmaceuticals in a report on Tuesday. They set an “overweight” rating and a $964.00 target price for the company. Oppenheimer lifted their price objective on Madrigal Pharmaceuticals from $600.00 to $650.00 and gave the company an “outperform” rating in a research note on Thursday, November 20th. Truist Financial increased their target price on Madrigal Pharmaceuticals from $580.00 to $640.00 and gave the stock a “buy” rating in a research note on Wednesday, November 19th. Citizens Jmp raised their price target on Madrigal Pharmaceuticals from $527.00 to $745.00 and gave the company a “market outperform” rating in a report on Tuesday, January 20th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $571.00 price target on shares of Madrigal Pharmaceuticals in a research note on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $654.73.

About Madrigal Pharmaceuticals

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-? agonist in Phase 3 development for the treatment of NASH.