Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Shares Sold by J. Safra Sarasin Holding AG

Key Points

• J. Safra Sarasin Holding AG significantly reduced its stake in Madrigal Pharmaceuticals by 47.4%, selling 1,613 shares and owning a total of 1,792 shares valued at approximately $594,000.
• Analysts have a generally positive outlook, with Madrigal Pharmaceuticals receiving multiple buy ratings and price target increases, including a revised target of $460.00 from B. Riley.
• The company reported a striking increase in revenue, up 1357.5% year-over-year, with earnings beating expectations of $3.48 by posting a loss of $1.90 per share.

J. Safra Sarasin Holding AG lessened its stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 47.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,792 shares of the biopharmaceutical company's stock after selling 1,613 shares during the period. J. Safra Sarasin Holding AG's holdings in Madrigal Pharmaceuticals were worth $594,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MDGL. Woodline Partners LP lifted its holdings in Madrigal Pharmaceuticals by 110.2% in the 4th quarter. Woodline Partners LP now owns 309,117 shares of the biopharmaceutical company's stock valued at $95,384,000 after purchasing an additional 162,027 shares in the last quarter. Hood River Capital Management LLC acquired a new stake in shares of Madrigal Pharmaceuticals in the fourth quarter valued at about $39,447,000. Renaissance Technologies LLC lifted its stake in shares of Madrigal Pharmaceuticals by 261.3% in the fourth quarter. Renaissance Technologies LLC now owns 160,782 shares of the biopharmaceutical company's stock worth $49,613,000 after buying an additional 116,285 shares in the last quarter. FMR LLC boosted its position in Madrigal Pharmaceuticals by 10.8% during the fourth quarter. FMR LLC now owns 867,850 shares of the biopharmaceutical company's stock worth $267,792,000 after acquiring an additional 84,305 shares during the last quarter. Finally, Vestal Point Capital LP boosted its position in Madrigal Pharmaceuticals by 216.7% during the fourth quarter. Vestal Point Capital LP now owns 95,000 shares of the biopharmaceutical company's stock worth $29,314,000 after acquiring an additional 65,000 shares during the last quarter. 98.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MDGL. UBS Group raised their target price on shares of Madrigal Pharmaceuticals from $441.00 to $458.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Wall Street Zen raised Madrigal Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Monday, May 5th. Canaccord Genuity Group upped their target price on Madrigal Pharmaceuticals from $420.00 to $428.00 and gave the company a "buy" rating in a report on Wednesday. B. Riley reiterated a "buy" rating and set a $460.00 price target (up previously from $422.00) on shares of Madrigal Pharmaceuticals in a report on Friday, May 2nd. Finally, JMP Securities reissued a "market outperform" rating and issued a $443.00 price objective on shares of Madrigal Pharmaceuticals in a report on Thursday, April 24th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, Madrigal Pharmaceuticals currently has an average rating of "Moderate Buy" and an average price target of $421.63.

Madrigal Pharmaceuticals Trading Up 1.2%

Madrigal Pharmaceuticals stock traded up $4.03 during midday trading on Friday, reaching $346.32. 227,202 shares of the stock traded hands, compared to its average volume of 375,259. The firm has a market cap of $7.69 billion, a PE ratio of -26.95 and a beta of -1.02. The company has a current ratio of 5.11, a quick ratio of 5.58 and a debt-to-equity ratio of 0.17. The company has a 50-day simple moving average of $300.28 and a two-hundred day simple moving average of $312.84. Madrigal Pharmaceuticals, Inc. has a 12-month low of $200.63 and a 12-month high of $377.46.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last announced its earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($1.90) earnings per share for the quarter, topping the consensus estimate of ($3.48) by $1.58. Madrigal Pharmaceuticals had a negative net margin of 54.68% and a negative return on equity of 38.38%. The firm had revenue of $212.80 million for the quarter, compared to the consensus estimate of $158.94 million. During the same period in the prior year, the firm earned ($7.10) EPS. The firm's revenue for the quarter was up 1357.5% on a year-over-year basis. Research analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Madrigal Pharmaceuticals news, Director Rebecca Taub sold 26,444 shares of the company's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $353.47, for a total transaction of $9,347,160.68. Following the sale, the director owned 461,044 shares in the company, valued at $162,965,222.68. This represents a 5.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Paul A. Friedman sold 26,176 shares of Madrigal Pharmaceuticals stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $353.47, for a total value of $9,252,430.72. Following the completion of the transaction, the director owned 187,164 shares of the company's stock, valued at $66,156,859.08. The trade was a 12.27% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 60,377 shares of company stock valued at $21,316,969. 21.50% of the stock is currently owned by company insiders.

Madrigal Pharmaceuticals Company 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.