Calamos Advisors LLC Trims Stock Holdings in Madrigal Pharmaceuticals, Inc. $MDGL

Calamos Advisors LLC trimmed its position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 46.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,490 shares of the biopharmaceutical company’s stock after selling 3,076 shares during the quarter. Calamos Advisors LLC’s holdings in Madrigal Pharmaceuticals were worth $1,827,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of MDGL. J. Safra Sarasin Holding AG raised its position in shares of Madrigal Pharmaceuticals by 50.3% during the first quarter. J. Safra Sarasin Holding AG now owns 2,323 shares of the biopharmaceutical company’s stock valued at $1,216,000 after buying an additional 777 shares during the last quarter. Fifth Third Bancorp purchased a new stake in Madrigal Pharmaceuticals during the 1st quarter valued at $435,000. Candriam S.C.A. lifted its holdings in shares of Madrigal Pharmaceuticals by 32.9% in the 1st quarter. Candriam S.C.A. now owns 84,948 shares of the biopharmaceutical company’s stock worth $44,468,000 after acquiring an additional 21,042 shares during the last quarter. Seelaus Asset Management LLC bought a new stake in Madrigal Pharmaceuticals in the first quarter worth about $221,000. Finally, Greenwood Capital Associates LLC bought a new stake in shares of Madrigal Pharmaceuticals during the 1st quarter worth approximately $357,000. 98.50% of the stock is owned by institutional investors.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, insider David Soergel sold 1,042 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $495.74, for a total value of $516,561.08. Following the transaction, the insider directly owned 10,033 shares of the company’s stock, valued at $4,973,759.42. This trade represents a 9.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Richard S. Levy sold 5,682 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $515.44, for a total value of $2,928,730.08. Following the transaction, the director owned 22,015 shares in the company, valued at approximately $11,347,411.60. The trade was a 20.51% 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 three months, insiders sold 7,568 shares of company stock valued at $3,880,711. 17.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on MDGL. Truist Financial boosted their price objective on shares of Madrigal Pharmaceuticals from $640.00 to $709.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. HC Wainwright reaffirmed a “buy” rating and set a $620.00 price objective on shares of Madrigal Pharmaceuticals in a research report on Wednesday, May 6th. Evercore set a $649.00 target price on shares of Madrigal Pharmaceuticals in a research note on Thursday, May 7th. Wells Fargo & Company upgraded Madrigal Pharmaceuticals to an “overweight” rating in a research note on Monday, June 1st. Finally, Bank of America dropped their price objective on shares of Madrigal Pharmaceuticals from $550.00 to $542.00 and set a “neutral” rating on the stock in a report on Thursday, June 11th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $687.93.

Madrigal Pharmaceuticals Price Performance

Shares of NASDAQ MDGL opened at $550.25 on Thursday. Madrigal Pharmaceuticals, Inc. has a 12 month low of $286.44 and a 12 month high of $615.00. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.50 and a quick ratio of 3.16. The firm’s 50 day simple moving average is $512.65 and its 200-day simple moving average is $501.89. The stock has a market capitalization of $12.69 billion, a price-to-earnings ratio of -42.99 and a beta of -1.05.

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

About Madrigal Pharmaceuticals

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.