Goldman Sachs Group Inc. Lowers Holdings in Madrigal Pharmaceuticals, Inc. $MDGL

Goldman Sachs Group Inc. lowered its position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 20.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 305,831 shares of the biopharmaceutical company’s stock after selling 80,269 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Madrigal Pharmaceuticals were worth $178,098,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Flagship Harbor Advisors LLC purchased a new stake in shares of Madrigal Pharmaceuticals in the fourth quarter valued at about $29,000. Aventura Private Wealth LLC acquired a new position in shares of Madrigal Pharmaceuticals during the fourth quarter worth about $36,000. Aster Capital Management DIFC Ltd purchased a new position in Madrigal Pharmaceuticals during the third quarter worth about $39,000. Quarry LP purchased a new position in Madrigal Pharmaceuticals during the third quarter worth about $39,000. Finally, Eastern Bank lifted its position 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 purchasing an additional 21 shares during the period. Institutional investors and hedge funds own 98.50% of the company’s stock.

Insiders Place Their Bets

In other news, 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 transaction of $516,561.08. Following the completion of the sale, the insider directly owned 10,033 shares in the company, valued at $4,973,759.42. The trade was a 9.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available 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 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 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. The trade was a 20.51% decrease in their ownership of the stock. 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. In the last quarter, insiders have sold 7,568 shares of company stock worth $3,880,711. 17.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

MDGL has been the topic of a number of analyst reports. Evercore set a $649.00 price objective on Madrigal Pharmaceuticals in a report on Thursday, May 7th. Truist Financial increased their target price on Madrigal Pharmaceuticals from $640.00 to $709.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Bank of America reduced their price target on Madrigal Pharmaceuticals from $570.00 to $529.00 and set a “neutral” rating for the company in a report on Friday, February 20th. Zacks Research raised Madrigal Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Friday, February 20th. Finally, HC Wainwright reiterated a “buy” rating and issued a $620.00 price objective on shares of Madrigal Pharmaceuticals in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $687.00.

Madrigal Pharmaceuticals Stock Performance

NASDAQ MDGL opened at $486.98 on Monday. The business has a 50 day moving average price of $516.90 and a 200 day moving average price of $513.66. The company has a market capitalization of $11.23 billion, a P/E ratio of -38.05 and a beta of -1.07. Madrigal Pharmaceuticals, Inc. has a 1-year low of $275.00 and a 1-year 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.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($3.25) earnings per share for the quarter, beating the consensus estimate of ($3.61) by $0.36. The company 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%.Madrigal Pharmaceuticals’s revenue was up 126.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($3.32) earnings per share. Sell-side analysts expect that Madrigal Pharmaceuticals, Inc. will post -7.23 EPS for the current fiscal 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.