Aigen Investment Management LP Acquires 2,067 Shares of Madrigal Pharmaceuticals, Inc. $MDGL

Aigen Investment Management LP grew its position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 353.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,652 shares of the biopharmaceutical company’s stock after buying an additional 2,067 shares during the quarter. Aigen Investment Management LP’s holdings in Madrigal Pharmaceuticals were worth $1,544,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently 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 valued at $185,507,000 after acquiring an additional 397,076 shares during the last quarter. Norges Bank bought a new position in shares of Madrigal Pharmaceuticals during the fourth quarter valued at about $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 valued at $982,313,000 after acquiring an additional 165,683 shares during the last quarter. Deutsche Bank AG raised its stake in shares of Madrigal Pharmaceuticals by 414.5% during the fourth quarter. Deutsche Bank AG now owns 192,109 shares of the biopharmaceutical company’s stock valued at $111,873,000 after acquiring an additional 154,767 shares during the last quarter. Finally, Lord Abbett & CO. LLC raised its stake in shares of Madrigal Pharmaceuticals by 139.7% during the fourth quarter. Lord Abbett & CO. LLC now owns 244,796 shares of the biopharmaceutical company’s stock valued at $142,555,000 after acquiring an additional 142,653 shares during the last quarter. 98.50% of the stock is owned by institutional investors.

Insider Transactions at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, Director Richard S. Levy sold 5,682 shares of the company’s stock in a transaction dated 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 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 company’s 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 completion of the sale, the insider owned 10,033 shares in the company, valued at approximately $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 sold 7,568 shares of company stock worth $3,880,711. Corporate insiders own 17.60% of the company’s stock.

Madrigal Pharmaceuticals Price Performance

Shares of MDGL opened at $480.77 on Friday. The stock has a market cap of $11.08 billion, a PE ratio of -37.56 and a beta of -1.07. 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 $275.00 and a fifty-two week high of $615.00. The firm’s 50-day simple moving average is $512.55 and its two-hundred day simple moving average is $511.22.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced 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. The business had revenue of $311.34 million for 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 was up 126.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($3.32) earnings per share. Analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -7.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Bank of America lowered their price objective on shares of Madrigal Pharmaceuticals from $550.00 to $542.00 and set a “neutral” rating for the company in a research note on Thursday. Zacks Research upgraded shares of Madrigal Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Friday, February 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a research report on Tuesday, April 21st. Truist Financial boosted their price target on shares of Madrigal Pharmaceuticals from $640.00 to $709.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Finally, HC Wainwright reiterated a “buy” rating and set a $620.00 price target on shares of Madrigal Pharmaceuticals in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $687.93.

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.