J. Safra Sarasin Holding AG Sells 2,195 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

J. Safra Sarasin Holding AG trimmed its position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 39.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,405 shares of the biopharmaceutical company's stock after selling 2,195 shares during the period. J. Safra Sarasin Holding AG's holdings in Madrigal Pharmaceuticals were worth $1,051,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Barclays PLC raised its stake in shares of Madrigal Pharmaceuticals by 159.9% in the third quarter. Barclays PLC now owns 40,279 shares of the biopharmaceutical company's stock valued at $8,549,000 after purchasing an additional 24,783 shares in the last quarter. Sanctuary Advisors LLC boosted its position in shares of Madrigal Pharmaceuticals by 12.7% during the 3rd quarter. Sanctuary Advisors LLC now owns 1,185 shares of the biopharmaceutical company's stock valued at $251,000 after acquiring an additional 134 shares in the last quarter. Franklin Resources Inc. increased its stake in Madrigal Pharmaceuticals by 8.0% in the third quarter. Franklin Resources Inc. now owns 1,383 shares of the biopharmaceutical company's stock valued at $298,000 after acquiring an additional 103 shares during the period. Miracle Mile Advisors LLC acquired a new position in Madrigal Pharmaceuticals in the fourth quarter worth about $216,000. Finally, KBC Group NV lifted its stake in Madrigal Pharmaceuticals by 73.5% during the fourth quarter. KBC Group NV now owns 609 shares of the biopharmaceutical company's stock worth $188,000 after purchasing an additional 258 shares during the period. Institutional investors and hedge funds own 98.50% of the company's stock.

Madrigal Pharmaceuticals Price Performance

Shares of MDGL traded up $1.17 during mid-day trading on Monday, hitting $327.96. 71,089 shares of the company traded hands, compared to its average volume of 386,861. 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 stock has a market capitalization of $7.24 billion, a price-to-earnings ratio of -13.02 and a beta of -0.69. The business has a 50-day moving average of $325.91 and a 200 day moving average of $311.33. Madrigal Pharmaceuticals, Inc. has a one year low of $191.18 and a one year high of $377.46.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last released its earnings results on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) EPS for the quarter, beating the consensus estimate of ($4.32) by $1.61. The firm had revenue of $103.32 million during the quarter, compared to analyst estimates of $97.81 million. As a group, equities analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MDGL has been the topic of several analyst reports. Citigroup upped their price objective on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. JMP Securities restated a "market outperform" rating and issued a $443.00 target price on shares of Madrigal Pharmaceuticals in a research note on Thursday. B. Riley upgraded shares of Madrigal Pharmaceuticals from a "hold" rating to a "strong-buy" rating and increased their target price for the stock from $236.00 to $422.00 in a research report on Thursday, February 27th. Finally, HC Wainwright boosted their price target on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Madrigal Pharmaceuticals has an average rating of "Moderate Buy" and a consensus price target of $409.00.

Insiders Place Their Bets

In related news, Director James M. Daly sold 15,470 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $347.45, for a total transaction of $5,375,051.50. Following the completion of the sale, the director now directly owns 1,912 shares of the company's stock, valued at approximately $664,324.40. This represents a 89.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Robert E. Waltermire sold 1,227 shares of Madrigal Pharmaceuticals stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $341.07, for a total value of $418,492.89. Following the completion of the sale, the vice president now directly owns 3,728 shares in the company, valued at $1,271,508.96. This represents a 24.76 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 30,810 shares of company stock valued at $10,610,594. 22.80% of the stock is currently owned by 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.