Handelsbanken Fonder AB Increases Holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Handelsbanken Fonder AB increased its holdings in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 0.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,800 shares of the biopharmaceutical company’s stock after purchasing an additional 300 shares during the quarter. Handelsbanken Fonder AB owned approximately 0.15% of Madrigal Pharmaceuticals worth $10,121,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC grew its holdings in Madrigal Pharmaceuticals by 47.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock valued at $45,000 after buying an additional 68 shares in the last quarter. Quest Partners LLC grew its stake in Madrigal Pharmaceuticals by 172.8% during the third quarter. Quest Partners LLC now owns 581 shares of the biopharmaceutical company’s stock valued at $123,000 after acquiring an additional 368 shares in the last quarter. KBC Group NV increased its holdings in Madrigal Pharmaceuticals by 73.5% in the 4th quarter. KBC Group NV now owns 609 shares of the biopharmaceutical company’s stock valued at $188,000 after acquiring an additional 258 shares during the last quarter. Miracle Mile Advisors LLC purchased a new stake in Madrigal Pharmaceuticals in the 4th quarter worth $216,000. Finally, D.A. Davidson & CO. bought a new position in shares of Madrigal Pharmaceuticals during the 4th quarter valued at about $221,000. Institutional investors own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Price Performance

Madrigal Pharmaceuticals stock opened at $336.23 on Friday. Madrigal Pharmaceuticals, Inc. has a 12-month low of $189.00 and a 12-month high of $368.29. 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 50-day moving average price of $319.87 and a 200-day moving average price of $281.78. The firm has a market capitalization of $7.33 billion, a PE ratio of -13.41 and a beta of -0.38.

Wall Street Analysts Forecast Growth

MDGL has been the topic of several research reports. JMP Securities reaffirmed a “market outperform” rating and issued a $427.00 target price on shares of Madrigal Pharmaceuticals in a report on Friday, January 10th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, November 20th. B. Riley upped their price objective on Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. HC Wainwright increased their target price on Madrigal Pharmaceuticals from $390.00 to $400.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Finally, UBS Group boosted their price target on shares of Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Madrigal Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $351.67.

Insider Buying and Selling

In other news, Director Fred B. Craves sold 3,600 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $315.31, for a total transaction of $1,135,116.00. Following the transaction, the director now owns 11,000 shares of the company’s stock, valued at approximately $3,468,410. This represents a 24.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Robert E. Waltermire sold 442 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $273.41, for a total value of $120,847.22. Following the sale, the vice president now directly owns 5,058 shares of the company’s stock, valued at $1,382,907.78. This represents a 8.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,090 shares of company stock valued at $3,883,621 in the last ninety days. 22.80% of the stock is owned by company insiders.

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.