Madrigal Pharmaceuticals, Inc. $MDGL Shares Purchased by Invesco Ltd.

Invesco Ltd. raised its holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 50.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 200,356 shares of the biopharmaceutical company’s stock after buying an additional 67,422 shares during the period. Invesco Ltd.’s holdings in Madrigal Pharmaceuticals were worth $60,636,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in MDGL. Park Avenue Securities LLC raised its position in shares of Madrigal Pharmaceuticals by 6.6% during the 2nd quarter. Park Avenue Securities LLC now owns 699 shares of the biopharmaceutical company’s stock worth $212,000 after acquiring an additional 43 shares in the last quarter. XTX Topco Ltd increased its position in Madrigal Pharmaceuticals by 4.6% in the 2nd quarter. XTX Topco Ltd now owns 1,238 shares of the biopharmaceutical company’s stock valued at $375,000 after acquiring an additional 54 shares during the period. AlphaQuest LLC raised its stake in shares of Madrigal Pharmaceuticals by 412.5% during the second quarter. AlphaQuest LLC now owns 82 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 66 shares during the last quarter. F m Investments LLC lifted its stake in shares of Madrigal Pharmaceuticals by 1.3% in the 2nd quarter. F m Investments LLC now owns 6,057 shares of the biopharmaceutical company’s stock worth $1,833,000 after acquiring an additional 80 shares during the period. Finally, Comerica Bank lifted its position in Madrigal Pharmaceuticals by 12.0% in the first quarter. Comerica Bank now owns 783 shares of the biopharmaceutical company’s stock valued at $259,000 after purchasing an additional 84 shares during the period. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Madrigal Pharmaceuticals Stock Down 0.3%

Shares of Madrigal Pharmaceuticals stock opened at $552.47 on Thursday. The business has a 50-day moving average price of $494.78 and a 200 day moving average price of $399.72. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $265.00 and a fifty-two week high of $605.00. The firm has a market cap of $12.55 billion, a P/E ratio of -42.46 and a beta of -1.04. The company has a quick ratio of 3.26, a current ratio of 3.44 and a debt-to-equity ratio of 0.54.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its earnings results on Tuesday, November 4th. The biopharmaceutical company reported ($5.08) EPS for the quarter, missing the consensus estimate of ($2.01) by ($3.07). Madrigal Pharmaceuticals had a negative return on equity of 41.50% and a negative net margin of 39.04%. On average, sell-side analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on MDGL shares. Cowen restated a “buy” rating on shares of Madrigal Pharmaceuticals in a research report on Tuesday, August 26th. Cantor Fitzgerald raised shares of Madrigal Pharmaceuticals from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 4th. HC Wainwright increased their price target on Madrigal Pharmaceuticals from $568.00 to $620.00 and gave the stock a “buy” rating in a research note on Friday, November 21st. Citizens Jmp boosted their target price on shares of Madrigal Pharmaceuticals from $485.00 to $527.00 and gave the company a “market outperform” rating in a report on Wednesday, November 5th. Finally, Canaccord Genuity Group upped their price target on Madrigal Pharmaceuticals from $526.00 to $587.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $553.50.

Insider Activity

In other Madrigal Pharmaceuticals news, insider Carole Huntsman sold 1,958 shares of Madrigal Pharmaceuticals stock in a transaction on Friday, November 21st. The shares were sold at an average price of $553.11, for a total value of $1,082,989.38. Following the completion of the transaction, the insider owned 10,032 shares of the company’s stock, valued at $5,548,799.52. The trade was a 16.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Mardi Dier sold 4,173 shares of the business’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $578.34, for a total transaction of $2,413,412.82. Following the sale, the chief financial officer owned 10,440 shares of the company’s stock, valued at approximately $6,037,869.60. The trade was a 28.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 33,606 shares of company stock valued at $17,332,651 over the last three months. 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.