1,860 Shares in Madrigal Pharmaceuticals, Inc. $MDGL Acquired by Seven Fleet Capital Management LP

Seven Fleet Capital Management LP bought a new position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) in the fourth quarter, HoldingsChannel.com reports. The firm bought 1,860 shares of the biopharmaceutical company’s stock, valued at approximately $1,083,000. Madrigal Pharmaceuticals makes up 0.8% of Seven Fleet Capital Management LP’s portfolio, making the stock its 22nd largest position.

Other hedge funds have also modified their holdings of the company. Wellington Management Group LLP boosted its position in shares of Madrigal Pharmaceuticals by 5,381.2% in the 3rd 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 in the last quarter. Norges Bank purchased a new position in shares of Madrigal Pharmaceuticals in the fourth quarter worth about $114,368,000. Baker BROS. Advisors LP lifted its holdings in shares of Madrigal Pharmaceuticals by 8.4% during the third quarter. Baker BROS. Advisors LP now owns 2,141,701 shares of the biopharmaceutical company’s stock worth $982,313,000 after purchasing an additional 165,683 shares during the period. Deutsche Bank AG lifted its holdings in shares of Madrigal Pharmaceuticals by 414.5% during the fourth quarter. Deutsche Bank AG now owns 192,109 shares of the biopharmaceutical company’s stock worth $111,873,000 after purchasing an additional 154,767 shares during the period. Finally, Lord Abbett & CO. LLC boosted its position in Madrigal Pharmaceuticals by 139.7% in the fourth quarter. Lord Abbett & CO. LLC now owns 244,796 shares of the biopharmaceutical company’s stock valued at $142,555,000 after buying an additional 142,653 shares during the last quarter. 98.50% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, insider David Soergel sold 1,042 shares of the 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 completion of 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. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Richard S. Levy sold 5,682 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director directly owned 22,015 shares in the company, valued at $11,347,411.60. This trade represents a 20.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 7,568 shares of company stock worth $3,880,711 over the last 90 days. 17.60% of the stock is currently owned by company insiders.

Madrigal Pharmaceuticals Price Performance

Shares of Madrigal Pharmaceuticals stock opened at $505.75 on Friday. 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 firm has a market cap of $11.66 billion, a PE ratio of -39.51 and a beta of -1.07. The business has a 50-day moving average price of $509.89 and a 200 day moving average price of $507.98. Madrigal Pharmaceuticals, Inc. has a twelve month low of $276.67 and a twelve month high of $615.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($3.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($3.61) by $0.36. The firm had revenue of $311.34 million for the quarter, compared to analyst estimates of $301.05 million. Madrigal Pharmaceuticals had a negative net margin of 27.32% and a negative return on equity of 50.15%. Madrigal Pharmaceuticals’s quarterly revenue was up 126.8% compared to the same quarter last year. During the same period last year, the company posted ($3.32) EPS. Sell-side analysts predict that Madrigal Pharmaceuticals, Inc. will post -7.3 earnings per share for the current fiscal year.

Analyst Ratings Changes

MDGL has been the topic of several research reports. Evercore set a $649.00 price target on shares of Madrigal Pharmaceuticals in a report on Thursday, May 7th. Bank of America decreased their price objective on shares of Madrigal Pharmaceuticals from $550.00 to $542.00 and set a “neutral” rating for the company in a research note on Thursday, June 11th. Truist Financial upped their price objective on shares of Madrigal Pharmaceuticals from $640.00 to $709.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. HC Wainwright reaffirmed a “buy” rating and issued a $620.00 price objective on shares of Madrigal Pharmaceuticals in a report on Wednesday, May 6th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $687.93.

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.