Quantinno Capital Management LP Increases Stock Holdings in Madrigal Pharmaceuticals, Inc. $MDGL

Quantinno Capital Management LP grew its stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 474.2% during the first quarter, Holdings Channel reports. The firm owned 2,090 shares of the biopharmaceutical company’s stock after purchasing an additional 1,726 shares during the period. Quantinno Capital Management LP’s holdings in Madrigal Pharmaceuticals were worth $1,094,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of MDGL. Quarry LP purchased a new position in shares of Madrigal Pharmaceuticals in the 3rd quarter valued at $39,000. Kemnay Advisory Services Inc. acquired a new stake in Madrigal Pharmaceuticals during the 4th quarter worth $39,000. Johnson Financial Group Inc. purchased a new stake in Madrigal Pharmaceuticals in the third quarter valued at $50,000. Accent Capital Management LLC lifted its position in Madrigal Pharmaceuticals by 64.9% in the fourth 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 last quarter. Finally, Farther Finance Advisors LLC lifted its position in Madrigal Pharmaceuticals by 34.6% in the fourth 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 last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Insider Activity

In related news, insider David Soergel sold 1,042 shares of the firm’s stock in a transaction dated 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 owned 10,033 shares of the company’s stock, valued at $4,973,759.42. This trade represents a 9.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available 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 business’s 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 owned 22,015 shares in the company, valued at $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. Insiders have sold 7,568 shares of company stock valued at $3,880,711 in the last quarter. Insiders own 17.60% of the company’s stock.

Madrigal Pharmaceuticals Stock Up 0.0%

Shares of NASDAQ:MDGL opened at $507.56 on Friday. The stock has a market cap of $11.72 billion, a P/E ratio of -39.38 and a beta of -1.01. The firm has a fifty day moving average price of $519.31 and a 200 day moving average price of $500.00. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.20 and a quick ratio of 2.94. Madrigal Pharmaceuticals, Inc. has a 1-year low of $351.32 and a 1-year high of $615.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported ($1.99) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.68) by $0.69. Madrigal Pharmaceuticals had a negative net margin of 25.32% and a negative return on equity of 56.65%. The company had revenue of $364.25 million for the quarter, compared to the consensus estimate of $352.13 million. During the same period last year, the firm posted ($1.90) EPS. Madrigal Pharmaceuticals’s revenue for the quarter was up 71.2% on a year-over-year basis. Sell-side analysts predict that Madrigal Pharmaceuticals, Inc. will post -7.03 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on MDGL shares. Truist Financial raised their price objective on Madrigal Pharmaceuticals from $640.00 to $709.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. UBS Group reiterated a “buy” rating on shares of Madrigal Pharmaceuticals in a research report on Friday, July 31st. Weiss Ratings reissued a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a report on Friday, July 17th. Evercore set a $649.00 target price on Madrigal Pharmaceuticals in a research report on Thursday, May 7th. Finally, Wolfe Research upgraded Madrigal Pharmaceuticals from a “peer perform” rating to an “outperform” rating and set a $605.00 price target on the stock in a research note on Tuesday, August 4th. Fifteen research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $689.93.

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.