Madrigal Pharmaceuticals, Inc. $MDGL Holdings Decreased by AMI Asset Management Corp

AMI Asset Management Corp decreased its holdings in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 37.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,440 shares of the biopharmaceutical company’s stock after selling 2,060 shares during the quarter. AMI Asset Management Corp’s holdings in Madrigal Pharmaceuticals were worth $1,041,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Park Avenue Securities LLC grew its holdings in shares of Madrigal Pharmaceuticals by 6.6% during the second quarter. Park Avenue Securities LLC now owns 699 shares of the biopharmaceutical company’s stock valued at $212,000 after buying an additional 43 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in Madrigal Pharmaceuticals in the second quarter valued at about $210,000. Rhumbline Advisers grew its stake in Madrigal Pharmaceuticals by 7.9% in the first quarter. Rhumbline Advisers now owns 26,364 shares of the biopharmaceutical company’s stock valued at $8,733,000 after purchasing an additional 1,924 shares in the last quarter. Strs Ohio purchased a new position in Madrigal Pharmaceuticals in the first quarter valued at about $629,000. Finally, Intech Investment Management LLC grew its stake in Madrigal Pharmaceuticals by 21.0% in the first quarter. Intech Investment Management LLC now owns 9,784 shares of the biopharmaceutical company’s stock valued at $3,241,000 after purchasing an additional 1,696 shares in the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Insider Buying and Selling

In related news, CEO William John Sibold sold 7,279 shares of the business’s stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $445.63, for a total transaction of $3,243,740.77. Following the completion of the transaction, the chief executive officer owned 102,474 shares of the company’s stock, valued at approximately $45,665,488.62. The trade was a 6.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Shannon T. Kelley sold 1,304 shares of the business’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $367.81, for a total value of $479,624.24. Following the transaction, the general counsel directly owned 9,173 shares of the company’s stock, valued at $3,373,921.13. This represents a 12.45% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 165,683 shares of company stock valued at $61,921,142 and have sold 309,019 shares valued at $112,705,072. 21.50% of the stock is currently owned by corporate insiders.

Madrigal Pharmaceuticals Price Performance

Shares of NASDAQ:MDGL opened at $449.14 on Thursday. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $200.63 and a fifty-two week high of $463.63. The business has a 50-day moving average of $394.79 and a two-hundred day moving average of $336.02. The stock has a market capitalization of $9.97 billion, a P/E ratio of -34.95 and a beta of -1.02. The company has a debt-to-equity ratio of 0.17, a current ratio of 5.11 and a quick ratio of 4.78.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($1.90) earnings per share for the quarter, topping analysts’ consensus estimates of ($3.48) by $1.58. Madrigal Pharmaceuticals had a negative return on equity of 38.38% and a negative net margin of 54.68%.The company had revenue of $212.80 million during the quarter, compared to analysts’ expectations of $158.94 million. During the same quarter in the previous year, the firm earned ($7.10) earnings per share. The business’s quarterly revenue was up 1357.5% compared to the same quarter last year. On average, equities research analysts predict that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on the company. TD Cowen boosted their target price on Madrigal Pharmaceuticals from $390.00 to $554.00 and gave the company a “buy” rating in a research note on Tuesday, August 26th. HC Wainwright assumed coverage on Madrigal Pharmaceuticals in a research note on Thursday, September 4th. They issued a “buy” rating and a $500.00 target price on the stock. B. Riley boosted their target price on Madrigal Pharmaceuticals from $460.00 to $560.00 and gave the company a “buy” rating in a research note on Monday. JMP Securities boosted their target price on Madrigal Pharmaceuticals from $483.00 to $485.00 and gave the company a “market outperform” rating in a research note on Wednesday, August 20th. Finally, Cowen restated a “buy” rating on shares of Madrigal Pharmaceuticals in a research note on Tuesday, August 26th. Nine research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Madrigal Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $495.88.

Madrigal Pharmaceuticals Profile

Madrigal Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development of therapeutics for the treatment of non-alcoholic steatohepatitis (NASH) in the United States. Its lead product candidate is resmetirom, a liver-directed thyroid hormone receptor beta agonist, which is in Phase 3 clinical trials for treating NASH.