Fiera Capital Corp Acquires 41,656 Shares of Madrigal Pharmaceuticals, Inc. $MDGL

Fiera Capital Corp increased its holdings in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 32.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 169,456 shares of the biopharmaceutical company’s stock after buying an additional 41,656 shares during the period. Fiera Capital Corp owned 0.75% of Madrigal Pharmaceuticals worth $98,681,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of MDGL. Wellington Management Group LLP raised its stake in shares of Madrigal Pharmaceuticals by 5,381.2% during the third quarter. Wellington Management Group LLP now owns 404,455 shares of the biopharmaceutical company’s stock worth $185,507,000 after buying an additional 397,076 shares during the last quarter. Norges Bank bought a new stake in shares of Madrigal Pharmaceuticals during the fourth quarter worth approximately $114,368,000. Baker BROS. Advisors LP raised its stake in shares of 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 buying an additional 165,683 shares during the last quarter. Alkeon Capital Management LLC bought a new stake in shares of Madrigal Pharmaceuticals during the third quarter worth approximately $55,039,000. Finally, Invesco Ltd. raised its stake in shares of Madrigal Pharmaceuticals by 49.5% during the third quarter. Invesco Ltd. now owns 299,565 shares of the biopharmaceutical company’s stock worth $137,398,000 after buying an additional 99,209 shares during the last quarter. 98.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on MDGL shares. Bank of America dropped their price target on shares of Madrigal Pharmaceuticals from $570.00 to $529.00 and set a “neutral” rating for the company in a research note on Friday, February 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a research note on Tuesday, April 21st. Wells Fargo & Company raised shares of Madrigal Pharmaceuticals to an “overweight” rating in a research note on Monday, June 1st. Evercore set a $649.00 price target on shares of Madrigal Pharmaceuticals in a research note on Thursday, May 7th. Finally, HC Wainwright reissued a “buy” rating and set a $620.00 price target on shares of Madrigal Pharmaceuticals in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $687.00.

Insider Buying and Selling

In related news, Director Richard S. Levy sold 5,682 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $515.44, for a total transaction of $2,928,730.08. Following the completion of the transaction, the director owned 22,015 shares in the company, valued at approximately $11,347,411.60. The trade was a 20.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Soergel sold 1,042 shares of the company’s stock in a transaction that occurred on 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 owned 10,033 shares of the company’s stock, valued at $4,973,759.42. This trade represents a 9.41% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 7,568 shares of company stock valued at $3,880,711. Corporate insiders own 17.60% of the company’s stock.

Madrigal Pharmaceuticals Price Performance

Shares of NASDAQ MDGL opened at $486.98 on Monday. The stock has a market cap of $11.23 billion, a P/E ratio of -38.05 and a beta of -1.07. The firm has a 50 day moving average price of $516.90 and a 200 day moving average price of $513.66. 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 52-week low of $275.00 and a 52-week high of $615.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported ($3.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($3.61) by $0.36. The firm had revenue of $311.34 million during the quarter, compared to analysts’ expectations of $301.05 million. Madrigal Pharmaceuticals had a negative net margin of 27.32% and a negative return on equity of 50.15%. The business’s revenue for the quarter was up 126.8% on a year-over-year basis. During the same quarter in the previous year, the company earned ($3.32) earnings per share. Analysts expect that Madrigal Pharmaceuticals, Inc. will post -7.23 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.