Skandinaviska Enskilda Banken AB publ Has $2.43 Million Holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Skandinaviska Enskilda Banken AB publ lowered its position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 12.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,798 shares of the biopharmaceutical company’s stock after selling 1,157 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Madrigal Pharmaceuticals were worth $2,431,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Paulson & CO. Inc. raised its holdings in shares of Madrigal Pharmaceuticals by 10.4% during the third quarter. Paulson & CO. Inc. now owns 2,042,000 shares of the biopharmaceutical company’s stock valued at $433,353,000 after acquiring an additional 192,000 shares during the period. RTW Investments LP increased its stake in Madrigal Pharmaceuticals by 4.1% in the 3rd quarter. RTW Investments LP now owns 1,993,687 shares of the biopharmaceutical company’s stock valued at $423,100,000 after buying an additional 77,825 shares during the period. State Street Corp increased its stake in Madrigal Pharmaceuticals by 19.2% in the 3rd quarter. State Street Corp now owns 887,752 shares of the biopharmaceutical company’s stock valued at $188,399,000 after buying an additional 143,038 shares during the period. Geode Capital Management LLC increased its stake in Madrigal Pharmaceuticals by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 405,655 shares of the biopharmaceutical company’s stock valued at $86,104,000 after buying an additional 5,801 shares during the period. Finally, Erste Asset Management GmbH acquired a new position in Madrigal Pharmaceuticals in the 3rd quarter valued at approximately $49,749,000. Institutional investors and hedge funds own 98.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MDGL. Citigroup upped their price objective on shares of Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, November 20th. HC Wainwright boosted their target price on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. JMP Securities reissued a “market outperform” rating and issued a $427.00 target price on shares of Madrigal Pharmaceuticals in a research report on Friday, January 10th. Finally, B. Riley raised shares of Madrigal Pharmaceuticals from a “hold” rating to a “strong-buy” rating and boosted their target price for the stock from $236.00 to $422.00 in a research report on Thursday, February 27th. Two analysts have rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $378.44.

Madrigal Pharmaceuticals Price Performance

Shares of Madrigal Pharmaceuticals stock opened at $348.35 on Monday. The firm has a market cap of $7.69 billion, a P/E ratio of -13.89 and a beta of -0.41. The firm’s 50-day simple moving average is $326.55 and its 200-day simple moving average is $290.78. Madrigal Pharmaceuticals, Inc. has a twelve month low of $189.00 and a twelve month 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 announced its quarterly 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 for the quarter, compared to the consensus estimate of $97.81 million. As a group, research analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current fiscal year.

Insider Transactions at Madrigal Pharmaceuticals

In related news, General Counsel Shannon T. Kelley sold 277 shares of the stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $273.41, for a total transaction of $75,734.57. Following the sale, the general counsel now owns 7,705 shares of the company’s stock, valued at $2,106,624.05. This represents a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Robert E. Waltermire sold 442 shares of the firm’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $273.41, for a total value of $120,847.22. Following the completion of the sale, the vice president now directly owns 5,058 shares in the company, valued at approximately $1,382,907.78. This represents a 8.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,900 shares of company stock valued at $12,168,079 over the last three months. Company insiders own 22.80% of the company’s stock.

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.