9,980 Shares in Madrigal Pharmaceuticals, Inc. $MDGL Bought by EFG International AG

EFG International AG acquired a new stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 9,980 shares of the biopharmaceutical company’s stock, valued at approximately $5,360,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. purchased a new position in Madrigal Pharmaceuticals during the 2nd quarter valued at $644,753,000. Janus Henderson Group PLC increased its stake in Madrigal Pharmaceuticals by 27.4% in the first quarter. Janus Henderson Group PLC now owns 2,018,647 shares of the biopharmaceutical company’s stock worth $1,051,727,000 after purchasing an additional 433,804 shares during the period. Wellington Management Group LLP increased its stake in 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 period. William Blair Investment Management LLC bought a new stake in shares of Madrigal Pharmaceuticals during the second quarter worth $174,038,000. Finally, Norges Bank bought a new stake in shares of Madrigal Pharmaceuticals during the fourth quarter worth $114,368,000. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Price Performance

MDGL opened at $512.16 on Wednesday. Madrigal Pharmaceuticals, Inc. has a 12-month low of $393.61 and a 12-month high of $615.00. The company has a current ratio of 3.20, a quick ratio of 2.94 and a debt-to-equity ratio of 0.65. The business’s fifty day simple moving average is $524.86 and its 200-day simple moving average is $501.54. The company has a market capitalization of $11.83 billion, a price-to-earnings ratio of -39.73 and a beta of -1.01.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported ($1.99) earnings per share for the quarter, beating the consensus estimate of ($2.68) by $0.69. Madrigal Pharmaceuticals had a negative return on equity of 56.65% and a negative net margin of 25.32%.The firm had revenue of $364.25 million during the quarter, compared to the consensus estimate of $352.13 million. During the same period in the previous year, the company posted ($1.90) earnings per share. The firm’s quarterly revenue was up 71.2% on a year-over-year basis. On average, equities research analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -7.03 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Evercore set a $649.00 price target on shares of Madrigal Pharmaceuticals in a report on Thursday, May 7th. HC Wainwright reiterated a “buy” rating on shares of Madrigal Pharmaceuticals in a report on Friday, July 31st. Citigroup reissued an “outperform” rating on shares of Madrigal Pharmaceuticals in a research report on Friday, July 17th. Barclays dropped their target price on shares of Madrigal Pharmaceuticals from $964.00 to $962.00 and set an “overweight” rating on the stock in a research note on Monday, August 3rd. Finally, Wells Fargo & Company assumed coverage on shares of Madrigal Pharmaceuticals in a research report on Monday, July 27th. They set an “overweight” rating and a $685.00 target price on the stock. Fifteen investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Madrigal Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $699.64.

Insider Transactions at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, General Counsel Shannon T. Kelley sold 664 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $514.97, for a total transaction of $341,940.08. Following the transaction, the general counsel owned 11,474 shares of the company’s stock, valued at approximately $5,908,765.78. This trade represents a 5.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider David Soergel sold 1,042 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $495.74, for a total transaction of $516,561.08. Following the completion of 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 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. Company insiders own 17.60% of the company’s stock.

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.