Seven Fleet Capital Management LP Buys Shares of 4,973 Madrigal Pharmaceuticals, Inc. $MDGL

Seven Fleet Capital Management LP bought a new stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 4,973 shares of the biopharmaceutical company’s stock, valued at approximately $2,670,252.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Persistent Asset Partners Ltd acquired a new position in Madrigal Pharmaceuticals in the 2nd quarter valued at $29,000. Global Retirement Partners LLC bought a new stake in shares of Madrigal Pharmaceuticals in the second quarter worth about $34,000. Kemnay Advisory Services Inc. acquired a new position in Madrigal Pharmaceuticals in the 4th quarter valued at about $39,000. Quarry LP bought a new stake in Madrigal Pharmaceuticals during the 3rd quarter worth approximately $39,000. Finally, Johnson Financial Group Inc. bought a new stake in shares of Madrigal Pharmaceuticals in the 3rd quarter worth $50,000. 98.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on MDGL shares. Canaccord Genuity Group upped their price target on Madrigal Pharmaceuticals from $578.00 to $587.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Citigroup reiterated an “outperform” rating on shares of Madrigal Pharmaceuticals in a research report on Friday, July 17th. Bank of America dropped their price objective on shares of Madrigal Pharmaceuticals from $550.00 to $542.00 and set a “neutral” rating for the company in a research note on Thursday, June 11th. Piper Sandler restated an “overweight” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, June 24th. Finally, Truist Financial lifted their target price on Madrigal Pharmaceuticals from $640.00 to $709.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Fifteen research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Madrigal Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $699.64.

Insider Transactions at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, insider David Soergel sold 1,042 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $495.74, for a total transaction of $516,561.08. Following the completion of the transaction, the insider directly owned 10,033 shares of the company’s stock, valued at $4,973,759.42. The trade was a 9.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Shannon T. Kelley sold 664 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $514.97, for a total value of $341,940.08. Following the transaction, the general counsel owned 11,474 shares in the company, valued at $5,908,765.78. This represents a 5.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 17.60% of the stock is currently owned by company insiders.

Madrigal Pharmaceuticals Trading Down 1.8%

Madrigal Pharmaceuticals stock traded down $9.93 during mid-day trading on Friday, hitting $533.76. The stock had a trading volume of 268,664 shares, compared to its average volume of 347,854. The stock has a market capitalization of $12.33 billion, a PE ratio of -41.41 and a beta of -1.01. The company has a current ratio of 3.20, a quick ratio of 2.94 and a debt-to-equity ratio of 0.65. The stock has a 50-day simple moving average of $526.40 and a two-hundred day simple moving average of $502.54. Madrigal Pharmaceuticals, Inc. has a 12 month low of $393.61 and a 12 month high of $615.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its earnings results on Thursday, July 30th. The biopharmaceutical company reported ($1.99) earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $352.13 million. During the same quarter in the prior year, the business posted ($1.90) EPS. The firm’s revenue was up 71.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Madrigal Pharmaceuticals, Inc. will post -7.03 EPS for the current year.

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.