Cynosure Group LLC Invests $597,000 in Madrigal Pharmaceuticals, Inc. $MDGL

Cynosure Group LLC purchased a new position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,025 shares of the biopharmaceutical company’s stock, valued at approximately $597,000.

Several other institutional investors and hedge funds also recently modified their holdings of MDGL. Baker BROS. Advisors LP lifted its holdings in shares of Madrigal Pharmaceuticals by 8.4% in the third quarter. Baker BROS. Advisors LP now owns 2,141,701 shares of the biopharmaceutical company’s stock valued at $982,313,000 after buying an additional 165,683 shares during the period. Iron Triangle Partners LP acquired a new stake in shares of Madrigal Pharmaceuticals in the third quarter valued at $26,776,000. Toth Financial Advisory Corp acquired a new stake in shares of Madrigal Pharmaceuticals in the fourth quarter valued at $1,165,000. Peak Financial Advisors LLC lifted its holdings in shares of Madrigal Pharmaceuticals by 287.0% in the fourth quarter. Peak Financial Advisors LLC now owns 4,466 shares of the biopharmaceutical company’s stock valued at $2,601,000 after buying an additional 3,312 shares during the period. Finally, Capricorn Fund Managers Ltd acquired a new stake in shares of Madrigal Pharmaceuticals in the fourth quarter valued at $3,843,000. Institutional investors own 98.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Bank of America cut their price objective on Madrigal Pharmaceuticals from $550.00 to $542.00 and set a “neutral” rating for the company in a report on Thursday. Wells Fargo & Company upgraded Madrigal Pharmaceuticals to an “overweight” rating in a report on Monday, June 1st. Citigroup restated a “market outperform” rating on shares of Madrigal Pharmaceuticals in a report on Monday, June 1st. Truist Financial upped their target price on Madrigal Pharmaceuticals from $640.00 to $709.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $620.00 target price on shares of Madrigal Pharmaceuticals in a report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $687.93.

Madrigal Pharmaceuticals Trading Up 3.9%

Shares of NASDAQ MDGL opened at $499.76 on Tuesday. Madrigal Pharmaceuticals, Inc. has a 12 month low of $275.00 and a 12 month high of $615.00. The company has a market cap of $11.52 billion, a price-to-earnings ratio of -39.04 and a beta of -1.07. The company has a quick ratio of 3.16, a current ratio of 3.50 and a debt-to-equity ratio of 0.63. The business has a fifty day simple moving average of $511.60 and a 200-day simple moving average of $510.03.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($3.25) EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $301.05 million. During the same period in the prior year, the business posted ($3.32) earnings per share. Madrigal Pharmaceuticals’s revenue was up 126.8% compared to the same quarter last year. Sell-side analysts predict that Madrigal Pharmaceuticals, Inc. will post -7.3 EPS for the current year.

Insider Activity at Madrigal Pharmaceuticals

In other news, Director Richard S. Levy sold 5,682 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $515.44, for a total transaction of $2,928,730.08. Following the completion of the sale, the director directly owned 22,015 shares of the company’s stock, valued at $11,347,411.60. This trade represents a 20.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 Madrigal Pharmaceuticals stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $495.74, for a total value of $516,561.08. Following the sale, the insider owned 10,033 shares of the company’s stock, valued at approximately $4,973,759.42. This represents a 9.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 7,568 shares of company stock worth $3,880,711. Company insiders own 17.60% of the company’s stock.

Madrigal Pharmaceuticals 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.