Madrigal Pharmaceuticals, Inc. $MDGL Shares Sold by Cinctive Capital Management LP

Cinctive Capital Management LP trimmed its stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 24.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,606 shares of the biopharmaceutical company’s stock after selling 1,162 shares during the quarter. Cinctive Capital Management LP’s holdings in Madrigal Pharmaceuticals were worth $1,654,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Baker BROS. Advisors LP raised its holdings in Madrigal Pharmaceuticals by 8.4% during the third quarter. Baker BROS. Advisors LP now owns 2,141,701 shares of the biopharmaceutical company’s stock worth $982,313,000 after purchasing an additional 165,683 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in Madrigal Pharmaceuticals by 388.3% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 15,288 shares of the biopharmaceutical company’s stock valued at $7,012,000 after purchasing an additional 12,157 shares in the last quarter. Voya Investment Management LLC boosted its stake in Madrigal Pharmaceuticals by 16.3% during the 3rd quarter. Voya Investment Management LLC now owns 59,437 shares of the biopharmaceutical company’s stock valued at $27,261,000 after purchasing an additional 8,347 shares in the last quarter. Calamos Advisors LLC acquired a new position in shares of Madrigal Pharmaceuticals during the 3rd quarter valued at $2,057,000. Finally, Marex Group plc bought a new stake in shares of Madrigal Pharmaceuticals in the 2nd quarter worth $548,000. 98.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Madrigal Pharmaceuticals news, insider Carole Huntsman sold 419 shares of the company’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $431.94, for a total transaction of $180,982.86. Following the completion of the sale, the insider directly owned 12,692 shares of the company’s stock, valued at approximately $5,482,182.48. This represents a 3.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Rebecca Taub sold 491 shares of the firm’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $431.94, for a total transaction of $212,082.54. Following the completion of the transaction, the director owned 452,213 shares of the company’s stock, valued at approximately $195,328,883.22. The trade was a 0.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 55,612 shares of company stock worth $28,326,065. 21.50% of the stock is owned by company insiders.

Madrigal Pharmaceuticals Stock Performance

Shares of NASDAQ MDGL opened at $440.83 on Tuesday. 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 has a market capitalization of $10.11 billion, a price-to-earnings ratio of -34.25 and a beta of -0.97. The stock’s fifty day simple moving average is $474.67 and its 200 day simple moving average is $488.86. Madrigal Pharmaceuticals, Inc. has a 52-week low of $265.00 and a 52-week high of $615.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its earnings results on Thursday, February 19th. The biopharmaceutical company reported ($2.57) 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 company had revenue of $321.08 million for the quarter, compared to analysts’ expectations of $310.36 million. During the same period in the prior year, the company earned ($2.71) earnings per share. The company’s revenue for the quarter was up 210.8% on a year-over-year basis. As a group, sell-side analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. HC Wainwright upped their price objective on Madrigal Pharmaceuticals from $568.00 to $620.00 and gave the company a “buy” rating in a report on Friday, November 21st. TD Cowen reiterated a “buy” rating on shares of Madrigal Pharmaceuticals in a research report on Monday, January 12th. The Goldman Sachs Group reissued a “buy” rating and issued a $571.00 price target on shares of Madrigal Pharmaceuticals in a report on Wednesday, January 14th. Truist Financial raised their price objective on shares of Madrigal Pharmaceuticals from $580.00 to $640.00 and gave the company a “buy” rating in a research report on Wednesday, November 19th. Finally, Oppenheimer lifted their price objective on shares of Madrigal Pharmaceuticals from $600.00 to $650.00 and gave the stock an “outperform” rating in a research note on Thursday, November 20th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Madrigal Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $685.31.

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.