WCM Investment Management LLC Grows Stake in Madrigal Pharmaceuticals, Inc. $MDGL

WCM Investment Management LLC lifted its stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 36.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 23,560 shares of the biopharmaceutical company’s stock after buying an additional 6,306 shares during the quarter. WCM Investment Management LLC’s holdings in Madrigal Pharmaceuticals were worth $11,906,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the company. Eastern Bank boosted its stake in shares of 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. Centaurus Financial Inc. increased its stake in 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 buying an additional 34 shares during the period. Farther Finance Advisors LLC lifted its holdings in Madrigal Pharmaceuticals by 34.6% in the 4th quarter. Farther Finance Advisors LLC now owns 140 shares of the biopharmaceutical company’s stock worth $82,000 after buying an additional 36 shares in the last quarter. Accent Capital Management LLC lifted its holdings in Madrigal Pharmaceuticals by 64.9% in the 4th quarter. Accent Capital Management LLC now owns 94 shares of the biopharmaceutical company’s stock worth $55,000 after buying an additional 37 shares in the last quarter. Finally, Swiss Life Asset Management Ltd lifted its holdings 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 worth $402,000 after buying an additional 44 shares in the last quarter. 98.50% of the stock is owned by institutional investors and hedge funds.

Madrigal Pharmaceuticals Stock Performance

Shares of MDGL opened at $535.69 on Tuesday. The business’s fifty day moving average price is $514.51 and its 200 day moving average price is $500.92. Madrigal Pharmaceuticals, Inc. has a 12-month low of $286.44 and a 12-month high of $615.00. The stock has a market capitalization of $12.35 billion, a PE ratio of -41.85 and a beta of -1.05. 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 released 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 firm had revenue of $311.34 million during 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%. The firm’s revenue for the quarter was up 126.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($3.32) earnings per share. Equities research analysts forecast that Madrigal Pharmaceuticals, Inc. will post -7.3 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Bank of America dropped their target price on Madrigal Pharmaceuticals from $550.00 to $542.00 and set a “neutral” rating on the stock in a research report on Thursday, June 11th. Piper Sandler reissued an “overweight” rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, June 24th. Citigroup restated an “outperform” rating on shares of Madrigal Pharmaceuticals in a research note on Friday. Wells Fargo & Company upgraded Madrigal Pharmaceuticals to an “overweight” rating in a report on Monday, June 1st. Finally, Truist Financial upped their target price on Madrigal Pharmaceuticals from $640.00 to $709.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. One research 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $687.93.

Insider Transactions at Madrigal Pharmaceuticals

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 value of $516,561.08. Following the completion of the transaction, the insider directly owned 10,033 shares of the company’s stock, valued at approximately $4,973,759.42. The trade was a 9.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible 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 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 transaction of $2,928,730.08. Following the sale, the director directly owned 22,015 shares of the company’s stock, valued at approximately $11,347,411.60. This 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. Over the last 90 days, insiders sold 7,568 shares of company stock worth $3,880,711. 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.