Caitong International Asset Management Co. Ltd Has $142,000 Stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Caitong International Asset Management Co. Ltd increased its position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 304.7% in the first quarter, HoldingsChannel reports. The firm owned 429 shares of the biopharmaceutical company’s stock after acquiring an additional 323 shares during the period. Caitong International Asset Management Co. Ltd’s holdings in Madrigal Pharmaceuticals were worth $142,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its stake in Madrigal Pharmaceuticals by 1,895.5% in the 1st quarter. Russell Investments Group Ltd. now owns 29,574 shares of the biopharmaceutical company’s stock worth $9,796,000 after purchasing an additional 28,092 shares during the period. Informed Momentum Co LLC acquired a new position in Madrigal Pharmaceuticals in the 1st quarter worth approximately $4,822,000. Nuveen LLC acquired a new position in Madrigal Pharmaceuticals in the 1st quarter worth approximately $16,536,000. Entropy Technologies LP acquired a new position in Madrigal Pharmaceuticals in the 1st quarter worth approximately $365,000. Finally, Invesco Ltd. boosted its stake in Madrigal Pharmaceuticals by 3.0% in the 1st quarter. Invesco Ltd. now owns 132,934 shares of the biopharmaceutical company’s stock worth $44,032,000 after purchasing an additional 3,860 shares during the period. Institutional investors and hedge funds own 98.50% of the company’s stock.

Wall Street Analyst Weigh In

MDGL has been the subject of a number of research reports. Canaccord Genuity Group lifted their target price on shares of Madrigal Pharmaceuticals from $420.00 to $428.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. B. Riley reissued a “buy” rating and set a $460.00 target price (up previously from $422.00) on shares of Madrigal Pharmaceuticals in a research note on Friday, May 2nd. Wall Street Zen raised shares of Madrigal Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday, May 5th. JMP Securities reissued a “market outperform” rating and set a $443.00 target price on shares of Madrigal Pharmaceuticals in a research note on Thursday, April 24th. Finally, UBS Group reissued a “buy” rating and set a $523.00 target price (up previously from $458.00) on shares of Madrigal Pharmaceuticals in a research note on Tuesday. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $439.71.

Insider Buying and Selling at Madrigal Pharmaceuticals

In related news, Director Paul A. Friedman sold 129,172 shares of Madrigal Pharmaceuticals stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $370.24, for a total value of $47,824,641.28. Following the completion of the sale, the director owned 187,164 shares of the company’s stock, valued at approximately $69,295,599.36. The trade was a 40.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Rebecca Taub sold 43,263 shares of Madrigal Pharmaceuticals stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $355.69, for a total transaction of $15,388,216.47. Following the completion of the sale, the director directly owned 461,044 shares of the company’s stock, valued at approximately $163,988,740.36. The trade was a 8.58% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 282,820 shares of company stock valued at $102,281,936. 21.50% of the stock is owned by company insiders.

Madrigal Pharmaceuticals Stock Up 4.0%

MDGL stock opened at $373.46 on Thursday. The company has a current ratio of 5.11, a quick ratio of 4.78 and a debt-to-equity ratio of 0.17. Madrigal Pharmaceuticals, Inc. has a 1 year low of $200.63 and a 1 year high of $377.46. The company has a fifty day simple moving average of $306.57 and a 200 day simple moving average of $313.72. The firm has a market cap of $8.29 billion, a PE ratio of -29.06 and a beta of -1.02.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported ($1.90) earnings per share (EPS) for the quarter, beating 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 business had revenue of $212.80 million during the quarter, compared to analyst estimates of $158.94 million. During the same quarter in the previous year, the business earned ($7.10) EPS. Madrigal Pharmaceuticals’s quarterly revenue was up 1357.5% compared to the same quarter last year. Sell-side analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current fiscal year.

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.