Madrigal Pharmaceuticals, Inc. $MDGL Shares Sold by Paulson & CO. Inc.

Paulson & CO. Inc. lessened its position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 18.5% in the first quarter, HoldingsChannel.com reports. The fund owned 1,392,188 shares of the biopharmaceutical company’s stock after selling 315,334 shares during the period. Madrigal Pharmaceuticals comprises approximately 23.4% of Paulson & CO. Inc.’s portfolio, making the stock its 2nd biggest holding. Paulson & CO. Inc. owned about 0.06% of Madrigal Pharmaceuticals worth $728,769,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Eastern Bank increased its stake in Madrigal Pharmaceuticals by 32.3% in the fourth quarter. Eastern Bank now owns 86 shares of the biopharmaceutical company’s stock valued at $50,000 after acquiring an additional 21 shares during the last quarter. Centaurus Financial Inc. lifted its stake in Madrigal Pharmaceuticals by 5.0% during the third quarter. Centaurus Financial Inc. now owns 709 shares of the biopharmaceutical company’s stock worth $325,000 after purchasing an additional 34 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in Madrigal Pharmaceuticals by 34.6% during the fourth quarter. Farther Finance Advisors LLC now owns 140 shares of the biopharmaceutical company’s stock worth $82,000 after purchasing an additional 36 shares during the last quarter. Accent Capital Management LLC boosted its holdings in shares of Madrigal Pharmaceuticals by 64.9% in the 4th quarter. Accent Capital Management LLC now owns 94 shares of the biopharmaceutical company’s stock valued at $55,000 after purchasing an additional 37 shares in the last quarter. Finally, Swiss Life Asset Management Ltd boosted its holdings in shares of Madrigal Pharmaceuticals by 6.8% in the 4th quarter. Swiss Life Asset Management Ltd now owns 690 shares of the biopharmaceutical company’s stock valued at $402,000 after purchasing an additional 44 shares in the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Stock Performance

NASDAQ MDGL opened at $544.51 on Monday. The firm’s fifty day moving average price is $516.10 and its two-hundred day moving average price is $499.69. The stock has a market cap of $12.56 billion, a PE ratio of -42.54 and a beta of -1.05. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.16 and a current ratio of 3.50. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $286.44 and a fifty-two week high of $615.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($3.25) EPS for the quarter, beating analysts’ consensus estimates of ($3.61) by $0.36. Madrigal Pharmaceuticals had a negative return on equity of 50.15% and a negative net margin of 27.32%.The company had revenue of $311.34 million during the quarter, compared to analysts’ expectations of $301.05 million. During the same period in the prior year, the company earned ($3.32) EPS. Madrigal Pharmaceuticals’s revenue was up 126.8% compared to the same quarter last year. On average, equities analysts expect that Madrigal Pharmaceuticals, Inc. will post -7.45 EPS for the current fiscal year.

Insider Transactions at Madrigal Pharmaceuticals

In other news, insider David Soergel sold 1,042 shares of Madrigal Pharmaceuticals 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 sale, the insider directly owned 10,033 shares of the company’s stock, valued at approximately $4,973,759.42. This trade represents a 9.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 stock was sold at an average price of $515.44, for a total value of $2,928,730.08. Following the sale, the director owned 22,015 shares in the company, valued at approximately $11,347,411.60. This trade represents a 20.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 7,568 shares of company stock valued at $3,880,711. Insiders own 17.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on MDGL shares. Truist Financial lifted their price target on Madrigal Pharmaceuticals from $640.00 to $709.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Piper Sandler reaffirmed an “overweight” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, June 24th. Evercore set a $649.00 target price on Madrigal Pharmaceuticals in a research report on Thursday, May 7th. Canaccord Genuity Group lowered their target price on Madrigal Pharmaceuticals from $587.00 to $578.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Finally, Citigroup reissued an “outperform” rating on shares of Madrigal Pharmaceuticals in a report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $687.93.

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.