Madrigal Pharmaceuticals, Inc. $MDGL Shares Sold by Emerald Advisers LLC

Emerald Advisers LLC lessened its position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 3.2% during the 1st quarter, Holdings Channel reports. The firm owned 37,654 shares of the biopharmaceutical company’s stock after selling 1,259 shares during the quarter. Emerald Advisers LLC’s holdings in Madrigal Pharmaceuticals were worth $19,711,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Wellington Management Group LLP raised its stake in shares of Madrigal Pharmaceuticals by 5,381.2% in the third quarter. Wellington Management Group LLP now owns 404,455 shares of the biopharmaceutical company’s stock worth $185,507,000 after purchasing an additional 397,076 shares during the last quarter. Norges Bank purchased a new stake in Madrigal Pharmaceuticals in the fourth quarter valued at approximately $114,368,000. Deutsche Bank AG increased its holdings in Madrigal Pharmaceuticals by 414.5% in the 4th quarter. Deutsche Bank AG now owns 192,109 shares of the biopharmaceutical company’s stock worth $111,873,000 after buying an additional 154,767 shares during the period. Lord Abbett & CO. LLC increased its holdings in Madrigal Pharmaceuticals by 139.7% in the 4th quarter. Lord Abbett & CO. LLC now owns 244,796 shares of the biopharmaceutical company’s stock worth $142,555,000 after buying an additional 142,653 shares during the period. Finally, Alkeon Capital Management LLC increased its holdings in Madrigal Pharmaceuticals by 100.0% in the 4th quarter. Alkeon Capital Management LLC now owns 240,000 shares of the biopharmaceutical company’s stock worth $139,762,000 after buying an additional 120,000 shares during the period. 98.50% of the stock is owned by institutional investors and hedge funds.

Madrigal Pharmaceuticals Stock Down 1.1%

Shares of MDGL stock opened at $531.00 on Tuesday. The stock has a 50 day moving average of $511.76 and a 200 day moving average of $502.73. The company has a current ratio of 3.50, a quick ratio of 3.16 and a debt-to-equity ratio of 0.63. The stock has a market cap of $12.24 billion, a P/E ratio of -41.48 and a beta of -1.05. Madrigal Pharmaceuticals, Inc. has a twelve month low of $286.44 and a twelve month high of $615.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported ($3.25) EPS for the quarter, topping the consensus estimate of ($3.61) by $0.36. Madrigal Pharmaceuticals had a negative return on equity of 50.15% and a negative net margin of 27.32%.The business had revenue of $311.34 million for the quarter, compared to analyst estimates of $301.05 million. During the same quarter in the prior year, the firm posted ($3.32) EPS. The business’s quarterly revenue was up 126.8% compared to the same quarter last year. As a group, sell-side analysts expect that Madrigal Pharmaceuticals, Inc. will post -7.3 EPS for the current year.

Insider Activity at Madrigal Pharmaceuticals

In related news, Director Richard S. Levy sold 5,682 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $515.44, for a total transaction of $2,928,730.08. Following the sale, the director directly owned 22,015 shares of the company’s stock, valued at approximately $11,347,411.60. This represents a 20.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Soergel sold 1,042 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $495.74, for a total transaction of $516,561.08. Following the sale, the insider owned 10,033 shares in the company, valued at approximately $4,973,759.42. This represents a 9.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 7,568 shares of company stock valued at $3,880,711. Insiders own 17.60% of the company’s stock.

Analyst Ratings Changes

MDGL has been the subject of several research reports. Truist Financial lifted their price objective on shares of Madrigal Pharmaceuticals from $640.00 to $709.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. HC Wainwright reiterated a “buy” rating and issued a $620.00 price objective on shares of Madrigal Pharmaceuticals in a research note on Wednesday, May 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a research note on Tuesday, April 21st. Citigroup reissued a “market outperform” rating on shares of Madrigal Pharmaceuticals in a report on Monday, June 1st. Finally, Wells Fargo & Company upgraded shares of Madrigal Pharmaceuticals to an “overweight” rating in a research report on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Madrigal Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $687.93.

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.