Madrigal Pharmaceuticals, Inc. $MDGL Shares Purchased by Entropy Technologies LP

Entropy Technologies LP raised its stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 87.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 6,942 shares of the biopharmaceutical company’s stock after buying an additional 3,240 shares during the period. Entropy Technologies LP’s holdings in Madrigal Pharmaceuticals were worth $4,043,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Baker BROS. Advisors LP grew its holdings in Madrigal Pharmaceuticals by 8.4% during the 3rd quarter. Baker BROS. Advisors LP now owns 2,141,701 shares of the biopharmaceutical company’s stock valued at $982,313,000 after buying an additional 165,683 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Madrigal Pharmaceuticals by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 451,743 shares of the biopharmaceutical company’s stock worth $263,114,000 after purchasing an additional 5,510 shares during the period. William Blair Investment Management LLC lifted its stake in shares of Madrigal Pharmaceuticals by 17.6% during the 3rd quarter. William Blair Investment Management LLC now owns 411,802 shares of the biopharmaceutical company’s stock worth $188,877,000 after purchasing an additional 61,513 shares during the period. Wellington Management Group LLP lifted its stake in shares of Madrigal Pharmaceuticals by 5,381.2% during the 3rd quarter. Wellington Management Group LLP now owns 404,455 shares of the biopharmaceutical company’s stock worth $185,507,000 after purchasing an additional 397,076 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of Madrigal Pharmaceuticals by 49.5% during the 3rd quarter. Invesco Ltd. now owns 299,565 shares of the biopharmaceutical company’s stock worth $137,398,000 after purchasing an additional 99,209 shares during the period. Institutional investors and hedge funds own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Price Performance

Shares of NASDAQ MDGL opened at $480.77 on Monday. Madrigal Pharmaceuticals, Inc. has a 12-month low of $275.00 and a 12-month high of $615.00. The company has a market cap of $11.09 billion, a P/E ratio of -37.56 and a beta of -1.07. The company has a current ratio of 3.50, a quick ratio of 3.16 and a debt-to-equity ratio of 0.63. The stock has a fifty day moving average price of $512.55 and a 200 day moving average price of $510.68.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($3.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.61) by $0.36. Madrigal Pharmaceuticals had a negative return on equity of 50.15% and a negative net margin of 27.32%.The firm had revenue of $311.34 million during the quarter, compared to the consensus estimate of $301.05 million. During the same period in the prior year, the firm earned ($3.32) EPS. The firm’s quarterly revenue was up 126.8% compared to the same quarter last year. Research analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -7.3 EPS for the current fiscal year.

Analysts Set New Price Targets

MDGL has been the topic of a number of recent analyst reports. Evercore set a $649.00 price target on Madrigal Pharmaceuticals in a research note on Thursday, May 7th. Canaccord Genuity Group reduced their price target on Madrigal Pharmaceuticals from $587.00 to $578.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a research note on Tuesday, April 21st. Truist Financial increased their price target on Madrigal Pharmaceuticals from $640.00 to $709.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Finally, Wells Fargo & Company raised Madrigal Pharmaceuticals to an “overweight” rating in a research note on Monday, June 1st. One equities research 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. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $687.93.

Insider Buying and Selling at Madrigal Pharmaceuticals

In related news, insider David Soergel sold 1,042 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $495.74, for a total value of $516,561.08. Following the completion of the sale, the insider directly owned 10,033 shares in the company, valued at approximately $4,973,759.42. This represents a 9.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Richard S. Levy sold 5,682 shares of the stock in a transaction 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 completion of the sale, the director owned 22,015 shares of the company’s stock, valued at approximately $11,347,411.60. This represents a 20.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 7,568 shares of company stock valued at $3,880,711. 17.60% of the stock is owned by 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.