Madrigal Pharmaceuticals, Inc. $MDGL Shares Sold by Entropy Technologies LP

Entropy Technologies LP decreased its holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 19.0% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 5,626 shares of the biopharmaceutical company’s stock after selling 1,316 shares during the period. Entropy Technologies LP’s holdings in Madrigal Pharmaceuticals were worth $2,945,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sei Investments Co. increased its position in shares of Madrigal Pharmaceuticals by 4.9% in the first quarter. Sei Investments Co. now owns 24,198 shares of the biopharmaceutical company’s stock worth $12,667,000 after acquiring an additional 1,122 shares in the last quarter. CI Investments Inc. acquired a new position in shares of Madrigal Pharmaceuticals during the 1st quarter valued at $1,058,000. PNC Financial Services Group Inc. lifted its holdings in shares of Madrigal Pharmaceuticals by 209.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 856 shares of the biopharmaceutical company’s stock valued at $448,000 after acquiring an additional 579 shares in the last quarter. Harbor Advisors LLC purchased a new stake in Madrigal Pharmaceuticals during the 1st quarter worth $262,000. Finally, WCM Investment Management LLC boosted its position in Madrigal Pharmaceuticals by 36.5% during the 1st quarter. WCM Investment Management LLC now owns 23,560 shares of the biopharmaceutical company’s stock worth $11,906,000 after purchasing an additional 6,306 shares during the period. 98.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider David Soergel sold 1,042 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $495.74, for a total value of $516,561.08. Following the transaction, the insider owned 10,033 shares in the company, valued at approximately $4,973,759.42. The trade was a 9.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 dated 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 completion of the transaction, the director directly owned 22,015 shares of the company’s stock, valued at $11,347,411.60. This represents a 20.51% 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. Insiders have sold 7,568 shares of company stock valued at $3,880,711 over the last 90 days. Insiders own 17.60% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on MDGL shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a research report on Friday, July 17th. Truist Financial upped their target price on Madrigal Pharmaceuticals from $640.00 to $709.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. HC Wainwright reiterated a “buy” rating and issued a $620.00 target price on shares of Madrigal Pharmaceuticals in a research note on Wednesday, May 6th. Canaccord Genuity Group dropped their target price on Madrigal Pharmaceuticals from $587.00 to $578.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Finally, Wells Fargo & Company upgraded Madrigal Pharmaceuticals to an “overweight” rating in a report on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $687.93.

Madrigal Pharmaceuticals Price Performance

Shares of MDGL stock opened at $544.51 on Friday. The firm has a fifty day simple moving average of $516.10 and a 200-day simple moving average of $500.31. The company has a market capitalization of $12.56 billion, a PE ratio of -42.54 and a beta of -1.05. Madrigal Pharmaceuticals, Inc. has a twelve month low of $286.44 and a twelve month high of $615.00. The company has a current ratio of 3.50, a quick ratio of 3.16 and a debt-to-equity ratio of 0.63.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($3.25) earnings per share (EPS) for the quarter, topping 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 firm had revenue of $311.34 million for the quarter, compared to the consensus estimate of $301.05 million. During the same quarter in the previous year, the firm posted ($3.32) EPS. The firm’s quarterly revenue was up 126.8% on a year-over-year basis. Equities research analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -7.45 earnings per share 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.