JPMorgan Chase & Co. Reduces Stake in Madrigal Pharmaceuticals, Inc. $MDGL

JPMorgan Chase & Co. lowered its position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 14.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 47,824 shares of the biopharmaceutical company’s stock after selling 8,030 shares during the period. JPMorgan Chase & Co. owned about 0.22% of Madrigal Pharmaceuticals worth $21,935,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of MDGL. AlphaQuest LLC boosted its position in Madrigal Pharmaceuticals by 412.5% in the second quarter. AlphaQuest LLC now owns 82 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 66 shares during the last quarter. Mather Group LLC. bought a new position in shares of Madrigal Pharmaceuticals in the 3rd quarter worth approximately $33,000. Global Retirement Partners LLC boosted its holdings in shares of Madrigal Pharmaceuticals by 221.7% in the third quarter. Global Retirement Partners LLC now owns 74 shares of the biopharmaceutical company’s stock worth $34,000 after buying an additional 51 shares during the last quarter. First Horizon Corp purchased a new position in shares of Madrigal Pharmaceuticals in the third quarter worth approximately $34,000. Finally, GAMMA Investing LLC grew its position in Madrigal Pharmaceuticals by 114.3% during the third quarter. GAMMA Investing LLC now owns 90 shares of the biopharmaceutical company’s stock valued at $41,000 after buying an additional 48 shares during the period. Institutional investors own 98.50% of the company’s stock.

Insider Activity

In other Madrigal Pharmaceuticals news, CEO William John Sibold sold 1,577 shares of Madrigal Pharmaceuticals stock in a transaction on Monday, January 26th. The shares were sold at an average price of $492.42, for a total value of $776,546.34. Following the sale, the chief executive officer directly owned 148,497 shares in the company, valued at approximately $73,122,892.74. The trade was a 1.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Shannon T. Kelley sold 692 shares of the business’s stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $497.36, for a total transaction of $344,173.12. Following the completion of the sale, the general counsel owned 8,481 shares in the company, valued at approximately $4,218,110.16. The trade was a 7.54% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 99,537 shares of company stock valued at $53,485,702. Company insiders own 21.50% of the company’s stock.

Madrigal Pharmaceuticals Price Performance

Shares of Madrigal Pharmaceuticals stock opened at $432.00 on Monday. The company has a market capitalization of $9.91 billion, a price-to-earnings ratio of -33.57 and a beta of -0.97. The company has a quick ratio of 3.77, a current ratio of 4.01 and a debt-to-equity ratio of 0.56. The stock’s 50-day simple moving average is $509.49 and its 200-day simple moving average is $486.29. Madrigal Pharmaceuticals, Inc. has a 52 week low of $265.00 and a 52 week high of $615.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its earnings results on Thursday, February 19th. The biopharmaceutical company reported ($2.57) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($2.61). Madrigal Pharmaceuticals had a negative net margin of 30.08% and a negative return on equity of 43.76%. The business had revenue of $321.08 million for the quarter, compared to the consensus estimate of $310.36 million. During the same period last year, the business posted ($2.71) EPS. The firm’s revenue for the quarter was up 210.8% compared to the same quarter last year. As a group, analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MDGL has been the topic of several analyst reports. Citigroup reiterated an “outperform” rating on shares of Madrigal Pharmaceuticals in a research note on Tuesday, January 20th. Cantor Fitzgerald raised Madrigal Pharmaceuticals from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 4th. HC Wainwright lifted their target price on Madrigal Pharmaceuticals from $568.00 to $620.00 and gave the company a “buy” rating in a research report on Friday, November 21st. The Goldman Sachs Group reissued a “buy” rating and set a $571.00 price target on shares of Madrigal Pharmaceuticals in a report on Wednesday, January 14th. Finally, Truist Financial raised their price objective on Madrigal Pharmaceuticals from $580.00 to $640.00 and gave the stock a “buy” rating in a research note on Wednesday, November 19th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Madrigal Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $685.31.

Madrigal Pharmaceuticals Company 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.