Madrigal Pharmaceuticals, Inc. $MDGL is Rock Springs Capital Management LP’s 3rd Largest Position

Rock Springs Capital Management LP lifted its stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 22.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 170,999 shares of the biopharmaceutical company’s stock after purchasing an additional 31,381 shares during the period. Madrigal Pharmaceuticals makes up 5.3% of Rock Springs Capital Management LP’s investment portfolio, making the stock its 3rd largest holding. Rock Springs Capital Management LP owned 0.74% of Madrigal Pharmaceuticals worth $89,513,000 as of its most recent filing with the Securities & Exchange Commission.

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

Madrigal Pharmaceuticals Stock Up 1.2%

Shares of NASDAQ MDGL opened at $551.25 on Tuesday. Madrigal Pharmaceuticals, Inc. has a 12-month low of $286.44 and a 12-month high of $615.00. The company has a market capitalization of $12.71 billion, a PE ratio of -43.07 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. The firm’s 50-day moving average is $516.68 and its two-hundred day moving average is $499.64.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($3.25) EPS for the quarter, beating the consensus estimate of ($3.61) by $0.36. Madrigal Pharmaceuticals had a negative net margin of 27.32% and a negative return on equity of 50.15%. The business had revenue of $311.34 million for the quarter, compared to analyst estimates of $301.05 million. During the same period in the prior year, the business earned ($3.32) earnings per share. The company’s quarterly revenue was up 126.8% on a year-over-year basis. Equities analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -7.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on MDGL shares. Canaccord Genuity Group lowered their price target on Madrigal Pharmaceuticals from $587.00 to $578.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Piper Sandler reaffirmed an “overweight” rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, June 24th. Citigroup reiterated an “outperform” rating on shares of Madrigal Pharmaceuticals in a research report on Friday, July 17th. HC Wainwright reissued a “buy” rating and issued a $620.00 target price on shares of Madrigal Pharmaceuticals in a report on Wednesday, May 6th. Finally, Wells Fargo & Company started coverage on Madrigal Pharmaceuticals in a research report on Monday. They issued an “overweight” rating and a $685.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Madrigal Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $687.73.

Insider Buying and Selling

In related news, insider David Soergel sold 1,042 shares of the company’s stock in a transaction that occurred 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 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. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 stock in a transaction on 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 sale, the director owned 22,015 shares in the company, valued at approximately $11,347,411.60. This trade represents 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. In the last ninety days, insiders sold 7,568 shares of company stock worth $3,880,711. 17.60% of the stock is owned by corporate insiders.

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.