Assenagon Asset Management S.A. Cuts Stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Assenagon Asset Management S.A. lowered its position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGLFree Report) by 55.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,082 shares of the biopharmaceutical company’s stock after selling 23,294 shares during the quarter. Assenagon Asset Management S.A. owned 0.10% of Madrigal Pharmaceuticals worth $4,415,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Everhart Financial Group Inc. acquired a new position in shares of Madrigal Pharmaceuticals during the 4th quarter worth $264,000. Vanguard Group Inc. grew its stake in shares of Madrigal Pharmaceuticals by 7.4% during the 3rd quarter. Vanguard Group Inc. now owns 1,573,338 shares of the biopharmaceutical company’s stock worth $229,770,000 after purchasing an additional 107,816 shares during the period. American Century Companies Inc. grew its stake in shares of Madrigal Pharmaceuticals by 30.0% during the 3rd quarter. American Century Companies Inc. now owns 63,609 shares of the biopharmaceutical company’s stock worth $9,289,000 after purchasing an additional 14,669 shares during the period. Deutsche Bank AG grew its stake in shares of Madrigal Pharmaceuticals by 18.5% during the 3rd quarter. Deutsche Bank AG now owns 43,871 shares of the biopharmaceutical company’s stock worth $6,407,000 after purchasing an additional 6,840 shares during the period. Finally, Verity Asset Management Inc. grew its stake in shares of Madrigal Pharmaceuticals by 36.7% during the 3rd quarter. Verity Asset Management Inc. now owns 2,687 shares of the biopharmaceutical company’s stock worth $392,000 after purchasing an additional 721 shares during the period. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Price Performance

Madrigal Pharmaceuticals stock opened at $255.74 on Tuesday. The stock has a market capitalization of $5.09 billion, a P/E ratio of -12.83 and a beta of -0.47. The firm’s 50-day moving average is $238.05 and its two-hundred day moving average is $202.66. Madrigal Pharmaceuticals, Inc. has a 12-month low of $119.76 and a 12-month high of $322.67. The company has a debt-to-equity ratio of 0.28, a current ratio of 5.38 and a quick ratio of 5.38.

Madrigal Pharmaceuticals (NASDAQ:MDGLGet Free Report) last released its quarterly earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($5.68) earnings per share for the quarter, missing analysts’ consensus estimates of ($5.26) by ($0.42). During the same period last year, the business earned ($4.98) EPS. Equities analysts predict that Madrigal Pharmaceuticals, Inc. will post -21.48 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on MDGL shares. HC Wainwright upped their price target on shares of Madrigal Pharmaceuticals from $405.00 to $425.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. Piper Sandler reaffirmed an “overweight” rating and set a $336.00 price target on shares of Madrigal Pharmaceuticals in a research note on Thursday, March 14th. Oppenheimer increased their price objective on shares of Madrigal Pharmaceuticals from $320.00 to $375.00 and gave the company an “outperform” rating in a research note on Friday, March 15th. B. Riley raised shares of Madrigal Pharmaceuticals from a “sell” rating to a “neutral” rating and increased their price objective for the company from $155.00 to $270.00 in a research note on Friday, March 15th. Finally, StockNews.com raised shares of Madrigal Pharmaceuticals to a “sell” rating in a research note on Thursday, March 28th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $377.40.

View Our Latest Stock Analysis on MDGL

Madrigal Pharmaceuticals Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Madrigal Pharmaceuticals (NASDAQ:MDGL)

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