KBC Group NV Raises Stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

KBC Group NV lifted its position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 73.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 609 shares of the biopharmaceutical company’s stock after purchasing an additional 258 shares during the period. KBC Group NV’s holdings in Madrigal Pharmaceuticals were worth $188,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Braidwell LP bought a new stake in Madrigal Pharmaceuticals during the 3rd quarter valued at $39,010,000. Eagle Asset Management Inc. bought a new stake in shares of Madrigal Pharmaceuticals in the third quarter valued at about $6,875,000. Intech Investment Management LLC purchased a new stake in Madrigal Pharmaceuticals in the third quarter worth about $1,280,000. Vestal Point Capital LP purchased a new stake in Madrigal Pharmaceuticals in the third quarter worth about $6,367,000. Finally, Blueshift Asset Management LLC bought a new position in Madrigal Pharmaceuticals during the 3rd quarter worth about $393,000. Institutional investors own 98.50% of the company’s stock.

Analyst Upgrades and Downgrades

MDGL has been the subject of several recent research reports. HC Wainwright boosted their price target on shares of Madrigal Pharmaceuticals from $390.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. StockNews.com raised shares of Madrigal Pharmaceuticals to a “sell” rating in a research note on Saturday, October 12th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, November 20th. Oppenheimer reduced their price target on Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Finally, B. Riley upped their price objective on Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Madrigal Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $351.67.

Madrigal Pharmaceuticals Trading Up 5.3 %

Shares of Madrigal Pharmaceuticals stock opened at $339.97 on Thursday. The firm’s 50 day simple moving average is $314.42 and its two-hundred day simple moving average is $276.65. The firm has a market capitalization of $7.41 billion, a price-to-earnings ratio of -13.56 and a beta of -0.38. Madrigal Pharmaceuticals, Inc. has a 12-month low of $168.25 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.

Insider Activity

In other news, Director Fred B. Craves sold 3,600 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $315.31, for a total value of $1,135,116.00. Following the sale, the director now directly owns 11,000 shares of the company’s stock, valued at $3,468,410. This represents a 24.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Robert E. Waltermire sold 103 shares of the firm’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $335.24, for a total transaction of $34,529.72. Following the transaction, the vice president now directly owns 4,955 shares of the company’s stock, valued at approximately $1,661,114.20. This trade represents a 2.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,090 shares of company stock valued at $3,883,621 over the last ninety days. 22.80% of the stock is currently owned by 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.