Emerald Mutual Fund Advisers Trust Sells 8,496 Shares of Madrigal Pharmaceuticals, Inc. $MDGL

Emerald Mutual Fund Advisers Trust trimmed its position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 34.0% during the first quarter, Holdings Channel.com reports. The institutional investor owned 16,500 shares of the biopharmaceutical company’s stock after selling 8,496 shares during the period. Emerald Mutual Fund Advisers Trust’s holdings in Madrigal Pharmaceuticals were worth $8,637,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MDGL. Eastern Bank lifted its stake in Madrigal Pharmaceuticals by 32.3% in the fourth quarter. Eastern Bank now owns 86 shares of the biopharmaceutical company’s stock valued at $50,000 after acquiring an additional 21 shares during the last quarter. Centaurus Financial Inc. increased its stake in shares of Madrigal Pharmaceuticals by 5.0% during the 3rd quarter. Centaurus Financial Inc. now owns 709 shares of the biopharmaceutical company’s stock worth $325,000 after purchasing an additional 34 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Madrigal Pharmaceuticals by 34.6% in the 4th quarter. Farther Finance Advisors LLC now owns 140 shares of the biopharmaceutical company’s stock valued at $82,000 after purchasing an additional 36 shares during the period. Accent Capital Management LLC lifted its stake in Madrigal Pharmaceuticals by 64.9% in the 4th quarter. Accent Capital Management LLC now owns 94 shares of the biopharmaceutical company’s stock valued at $55,000 after purchasing an additional 37 shares during the last quarter. Finally, Swiss Life Asset Management Ltd lifted its stake in Madrigal Pharmaceuticals by 6.8% in the 4th quarter. Swiss Life Asset Management Ltd now owns 690 shares of the biopharmaceutical company’s stock valued at $402,000 after purchasing an additional 44 shares during the last quarter. 98.50% of the stock is owned by institutional investors.

Madrigal Pharmaceuticals Stock Performance

NASDAQ:MDGL opened at $531.00 on Tuesday. The stock has a 50 day simple moving average of $511.76 and a 200 day simple moving average of $502.73. 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 1-year low of $286.44 and a 1-year high of $615.00. The company has a current ratio of 3.50, a quick ratio of 3.16 and a debt-to-equity ratio of 0.63.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported ($3.25) EPS 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 return on equity of 50.15% and a negative net margin of 27.32%.The company’s revenue for the quarter was up 126.8% on a year-over-year basis. During the same period in the prior year, the firm posted ($3.32) EPS. Research analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -7.3 earnings per share for the current year.

Insider Activity at Madrigal Pharmaceuticals

In related news, insider David Soergel sold 1,042 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $495.74, for a total value of $516,561.08. Following the transaction, the insider owned 10,033 shares in the company, valued at approximately $4,973,759.42. This trade represents a 9.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Richard S. Levy sold 5,682 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $515.44, for a total value of $2,928,730.08. Following the completion of the transaction, the director directly owned 22,015 shares of the company’s stock, valued at approximately $11,347,411.60. This trade represents a 20.51% decrease in their position. 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 ninety days. Insiders own 17.60% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on MDGL. Truist Financial upped their price objective on Madrigal Pharmaceuticals from $640.00 to $709.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Wells Fargo & Company raised Madrigal Pharmaceuticals to an “overweight” rating in a report on Monday, June 1st. Canaccord Genuity Group dropped their price target on Madrigal Pharmaceuticals from $587.00 to $578.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Bank of America reduced 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 report on Thursday, June 11th. Finally, Evercore set a $649.00 price objective on shares of Madrigal Pharmaceuticals in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average 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.