Madrigal Pharmaceuticals, Inc. $MDGL Stock Position Raised by Baker BROS. Advisors LP

Baker BROS. Advisors LP boosted its stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 8.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,141,701 shares of the biopharmaceutical company’s stock after purchasing an additional 165,683 shares during the period. Madrigal Pharmaceuticals makes up approximately 7.1% of Baker BROS. Advisors LP’s holdings, making the stock its 3rd largest position. Baker BROS. Advisors LP owned about 9.43% of Madrigal Pharmaceuticals worth $982,313,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Bank of New York Mellon Corp lifted its holdings in shares of Madrigal Pharmaceuticals by 46.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 88,943 shares of the biopharmaceutical company’s stock valued at $26,918,000 after buying an additional 28,154 shares during the period. Allworth Financial LP increased its position in Madrigal Pharmaceuticals by 17,570.0% during the second quarter. Allworth Financial LP now owns 3,534 shares of the biopharmaceutical company’s stock valued at $1,070,000 after acquiring an additional 3,514 shares during the last quarter. Rockefeller Capital Management L.P. lifted its holdings in Madrigal Pharmaceuticals by 1.6% in the second quarter. Rockefeller Capital Management L.P. now owns 17,895 shares of the biopharmaceutical company’s stock valued at $5,416,000 after acquiring an additional 286 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in Madrigal Pharmaceuticals by 59.0% in the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 3,131 shares of the biopharmaceutical company’s stock valued at $948,000 after acquiring an additional 1,162 shares during the period. Finally, Knott David M Jr bought a new position in Madrigal Pharmaceuticals in the second quarter valued at about $605,000. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Madrigal Pharmaceuticals Stock Performance

NASDAQ:MDGL opened at $444.83 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 3.77 and a current ratio of 4.01. The stock has a 50-day simple moving average of $477.62 and a two-hundred day simple moving average of $488.39. The firm has a market capitalization of $10.20 billion, a PE ratio of -34.56 and a beta of -0.97. Madrigal Pharmaceuticals, Inc. has a 52-week low of $265.00 and a 52-week high of $615.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings data on Thursday, February 19th. The biopharmaceutical company reported ($2.57) EPS for the quarter, missing the consensus estimate of $0.04 by ($2.61). Madrigal Pharmaceuticals had a negative return on equity of 43.76% and a negative net margin of 30.08%.The company had revenue of $321.08 million during the quarter, compared to the consensus estimate of $310.36 million. During the same period last year, the business earned ($2.71) EPS. The firm’s quarterly revenue was up 210.8% compared to the same quarter last year. Analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current year.

Insider Buying and Selling

In other Madrigal Pharmaceuticals news, insider Carole Huntsman sold 419 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $431.94, for a total transaction of $180,982.86. Following the transaction, the insider owned 12,692 shares of the company’s stock, valued at $5,482,182.48. The trade was a 3.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Shannon T. Kelley sold 360 shares of the company’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $431.94, for a total transaction of $155,498.40. Following the completion of the transaction, the general counsel owned 12,138 shares of the company’s stock, valued at approximately $5,242,887.72. The trade was a 2.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 55,612 shares of company stock worth $28,326,065 in the last ninety days. Corporate insiders own 21.50% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Citizens Jmp boosted their price target on Madrigal Pharmaceuticals from $527.00 to $745.00 and gave the company a “market outperform” rating in a research note on Tuesday, January 20th. HC Wainwright increased their price objective on shares of Madrigal Pharmaceuticals from $568.00 to $620.00 and gave the stock a “buy” rating in a research note on Friday, November 21st. UBS Group set a $900.00 price objective on shares of Madrigal Pharmaceuticals in a report on Friday, December 19th. Truist Financial boosted their target price on shares of Madrigal Pharmaceuticals from $580.00 to $640.00 and gave the company a “buy” rating in a research report on Wednesday, November 19th. Finally, Barclays assumed coverage on shares of Madrigal Pharmaceuticals in a report on Tuesday, January 27th. They set an “overweight” rating and a $964.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Madrigal Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $685.31.

Madrigal Pharmaceuticals Company Profile

Madrigal Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the development of innovative therapies for cardiovascular, metabolic and liver diseases. The company’s pipeline centers on novel, liver-directed agents designed to address significant unmet medical needs, with an emphasis on nonalcoholic steatohepatitis (NASH) and related metabolic disorders.

The lead product candidate, resmetirom (MGL-3196), is an orally administered, selective thyroid hormone receptor-β agonist in Phase 3 development for the treatment of NASH.