Madrigal Pharmaceuticals, Inc. $MDGL Shares Purchased by Castleark Management LLC

Castleark Management LLC raised its position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 45.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,466 shares of the biopharmaceutical company’s stock after buying an additional 4,540 shares during the quarter. Castleark Management LLC owned about 0.06% of Madrigal Pharmaceuticals worth $8,424,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Flagship Harbor Advisors LLC acquired a new stake in Madrigal Pharmaceuticals during the fourth quarter valued at approximately $29,000. Aventura Private Wealth LLC acquired a new stake in Madrigal Pharmaceuticals during the fourth quarter valued at approximately $36,000. Aster Capital Management DIFC Ltd acquired a new stake in Madrigal Pharmaceuticals during the third quarter valued at approximately $39,000. Eastern Bank raised its stake in Madrigal Pharmaceuticals by 32.3% during the fourth quarter. Eastern Bank now owns 86 shares of the biopharmaceutical company’s stock valued at $50,000 after buying an additional 21 shares in the last quarter. Finally, Quarry LP acquired a new stake in Madrigal Pharmaceuticals during the third quarter valued at approximately $39,000. Institutional investors and hedge funds own 98.50% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on MDGL shares. Zacks Research upgraded Madrigal Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Friday, February 20th. Wells Fargo & Company upgraded shares of Madrigal Pharmaceuticals to an “overweight” rating in a research note on Monday, June 1st. Citigroup reiterated a “market outperform” rating on shares of Madrigal Pharmaceuticals in a research note on Monday, June 1st. Canaccord Genuity Group dropped their price objective on shares of Madrigal Pharmaceuticals from $587.00 to $578.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Finally, Evercore set a $649.00 price objective on shares of Madrigal Pharmaceuticals in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Madrigal Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $687.93.

Madrigal Pharmaceuticals Price Performance

MDGL opened at $480.77 on Friday. The company has a quick ratio of 3.16, a current ratio of 3.50 and a debt-to-equity ratio of 0.63. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $275.00 and a fifty-two week high of $615.00. The company’s 50-day moving average price is $512.55 and its 200 day moving average price is $511.22. The firm has a market cap of $11.09 billion, a price-to-earnings ratio of -37.56 and a beta of -1.07.

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

Insider Activity at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, Director Richard S. Levy sold 5,682 shares of the firm’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 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 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 firm’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 sale, the insider owned 10,033 shares in the company, valued at $4,973,759.42. The trade was a 9.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 7,568 shares of company stock worth $3,880,711 in the last 90 days. 17.60% of the stock is owned by company insiders.

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.