Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Shares Sold by Deutsche Bank AG

Deutsche Bank AG lessened its stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 10.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 43,658 shares of the biopharmaceutical company's stock after selling 5,284 shares during the quarter. Deutsche Bank AG owned about 0.20% of Madrigal Pharmaceuticals worth $13,472,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of MDGL. William Blair Investment Management LLC purchased a new stake in shares of Madrigal Pharmaceuticals in the fourth quarter valued at $114,717,000. Hood River Capital Management LLC purchased a new stake in Madrigal Pharmaceuticals during the 4th quarter worth about $39,447,000. Renaissance Technologies LLC raised its stake in Madrigal Pharmaceuticals by 261.3% in the 4th quarter. Renaissance Technologies LLC now owns 160,782 shares of the biopharmaceutical company's stock valued at $49,613,000 after purchasing an additional 116,285 shares during the last quarter. Norges Bank purchased a new position in Madrigal Pharmaceuticals in the 4th quarter valued at about $35,514,000. Finally, FMR LLC lifted its holdings in Madrigal Pharmaceuticals by 10.8% in the 4th quarter. FMR LLC now owns 867,850 shares of the biopharmaceutical company's stock valued at $267,792,000 after purchasing an additional 84,305 shares in the last quarter. Hedge funds and other institutional investors own 98.50% of the company's stock.

Madrigal Pharmaceuticals Trading Down 3.0%

Shares of MDGL traded down $8.67 during mid-day trading on Wednesday, reaching $284.10. The company had a trading volume of 28,617 shares, compared to its average volume of 385,379. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $200.63 and a fifty-two week high of $377.46. The firm has a fifty day simple moving average of $317.25 and a 200-day simple moving average of $320.79. The stock has a market cap of $6.31 billion, a price-to-earnings ratio of -11.34 and a beta of -0.91. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last issued its earnings results on Thursday, May 1st. The biopharmaceutical company reported ($3.32) earnings per share for the quarter, beating analysts' consensus estimates of ($3.62) by $0.30. The firm had revenue of $137.25 million during the quarter, compared to analyst estimates of $112.79 million. During the same quarter in the previous year, the business posted ($7.38) EPS. On average, sell-side analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MDGL has been the subject of a number of recent research reports. Canaccord Genuity Group lifted their price target on shares of Madrigal Pharmaceuticals from $394.00 to $420.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Citigroup lifted their target price on shares of Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. JMP Securities reiterated a "market outperform" rating and issued a $443.00 price target on shares of Madrigal Pharmaceuticals in a report on Thursday, April 24th. StockNews.com raised Madrigal Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Monday, May 5th. Finally, B. Riley reaffirmed a "buy" rating and issued a $460.00 price objective (up previously from $422.00) on shares of Madrigal Pharmaceuticals in a research report on Friday, May 2nd. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $416.33.

Insider Transactions at Madrigal Pharmaceuticals

In related news, VP Robert E. Waltermire sold 1,227 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $341.07, for a total transaction of $418,492.89. Following the completion of the sale, the vice president now owns 3,728 shares of the company's stock, valued at approximately $1,271,508.96. This represents a 24.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James M. Daly sold 15,470 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $347.45, for a total transaction of $5,375,051.50. Following the transaction, the director now directly owns 1,912 shares in the company, valued at approximately $664,324.40. This trade represents a 89.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,810 shares of company stock worth $10,610,594 in the last three months. 21.50% of the stock is currently owned by company insiders.

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.