Nan Fung Group Holdings Ltd Acquires Shares of 5,672 Madrigal Pharmaceuticals, Inc. $MDGL

Nan Fung Group Holdings Ltd bought a new stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) in the 2nd quarter, Holdings Channel.com reports. The fund bought 5,672 shares of the biopharmaceutical company’s stock, valued at approximately $3,045,580,000. Madrigal Pharmaceuticals makes up 2.3% of Nan Fung Group Holdings Ltd’s investment portfolio, making the stock its 12th largest holding.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Persistent Asset Partners Ltd acquired a new position in shares of Madrigal Pharmaceuticals during the second quarter valued at $29,000. Global Retirement Partners LLC bought a new position in Madrigal Pharmaceuticals in the second quarter valued at about $34,000. Kemnay Advisory Services Inc. acquired a new stake in Madrigal Pharmaceuticals in the fourth quarter worth about $39,000. Quarry LP acquired a new stake in Madrigal Pharmaceuticals in the third quarter worth about $39,000. Finally, Accent Capital Management LLC raised its holdings in Madrigal Pharmaceuticals by 64.9% during the 4th quarter. Accent Capital Management LLC now owns 94 shares of the biopharmaceutical company’s stock worth $55,000 after purchasing an additional 37 shares during the last quarter. Institutional investors own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Stock Down 0.9%

Shares of Madrigal Pharmaceuticals stock opened at $511.97 on Tuesday. The business has a fifty day simple moving average of $524.65 and a 200 day simple moving average of $501.30. The stock has a market cap of $11.83 billion, a PE ratio of -39.72 and a beta of -1.01. The company has a quick ratio of 2.94, a current ratio of 3.20 and a debt-to-equity ratio of 0.65. Madrigal Pharmaceuticals, Inc. has a 12 month low of $393.61 and a 12 month high of $615.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its earnings results 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 for the quarter, compared to analyst estimates of $352.13 million. During the same quarter in the prior year, the firm posted ($1.90) earnings per share. The company’s quarterly revenue was up 71.2% on a year-over-year basis. Research analysts predict that Madrigal Pharmaceuticals, Inc. will post -7.03 EPS for the current year.

Analyst Ratings Changes

A number of research firms have issued reports on MDGL. Piper Sandler restated an “overweight” rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, June 24th. Wolfe Research upgraded shares of Madrigal Pharmaceuticals from a “peer perform” rating to an “outperform” rating and set a $605.00 price target for the company in a research report on Tuesday, August 4th. Evercore set a $649.00 price target on shares of Madrigal Pharmaceuticals in a research note on Thursday, May 7th. Citigroup restated an “outperform” rating on shares of Madrigal Pharmaceuticals in a report on Friday, July 17th. Finally, UBS Group restated a “buy” rating on shares of Madrigal Pharmaceuticals in a report on Friday, July 31st. Fifteen analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Madrigal Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $689.93.

Insider Transactions at Madrigal Pharmaceuticals

In related news, General Counsel Shannon T. Kelley sold 664 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on 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 $5,908,765.78. This trade represents a 5.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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 Madrigal Pharmaceuticals stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $495.74, for a total transaction of $516,561.08. Following the transaction, 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 position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 17.60% of the company’s stock.

Madrigal Pharmaceuticals 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.