Candriam S.C.A. Increases Position in Madrigal Pharmaceuticals, Inc. $MDGL

Candriam S.C.A. increased its stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 32.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 84,948 shares of the biopharmaceutical company’s stock after buying an additional 21,042 shares during the quarter. Candriam S.C.A. owned about 0.37% of Madrigal Pharmaceuticals worth $44,468,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in MDGL. Seelaus Asset Management LLC acquired a new stake in Madrigal Pharmaceuticals during the 1st quarter worth approximately $221,000. Greenwood Capital Associates LLC acquired a new position in shares of Madrigal Pharmaceuticals in the first quarter valued at approximately $357,000. Abel Hall LLC raised its stake in shares of Madrigal Pharmaceuticals by 79.0% during the first quarter. Abel Hall LLC now owns 1,271 shares of the biopharmaceutical company’s stock worth $665,000 after purchasing an additional 561 shares during the last quarter. Pictet Asset Management Holding SA raised its stake in shares of Madrigal Pharmaceuticals by 2.9% during the first quarter. Pictet Asset Management Holding SA now owns 187,240 shares of the biopharmaceutical company’s stock worth $97,914,000 after purchasing an additional 5,291 shares during the last quarter. Finally, Sterling Capital Management LLC lifted its holdings in shares of Madrigal Pharmaceuticals by 74.6% during the first quarter. Sterling Capital Management LLC now owns 213 shares of the biopharmaceutical company’s stock worth $111,000 after purchasing an additional 91 shares during the period. Institutional investors and hedge funds own 98.50% of the company’s stock.

Insider Transactions at Madrigal Pharmaceuticals

In related 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 directly owned 22,015 shares of the company’s stock, valued at approximately $11,347,411.60. This trade represents a 20.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Soergel sold 1,042 shares of Madrigal Pharmaceuticals stock in a transaction 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 in the company, valued at approximately $4,973,759.42. This trade represents 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. In the last quarter, insiders have sold 7,568 shares of company stock valued at $3,880,711. 17.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MDGL. Piper Sandler reiterated an “overweight” rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, June 24th. HC Wainwright reiterated a “buy” rating and set a $620.00 target price on shares of Madrigal Pharmaceuticals in a research report on Wednesday, May 6th. Wells Fargo & Company raised Madrigal Pharmaceuticals to an “overweight” rating in a research note on Monday, June 1st. Bank of America cut their price objective on Madrigal Pharmaceuticals from $550.00 to $542.00 and set a “neutral” rating for the company in a research report on Thursday, June 11th. Finally, Truist Financial raised their target price on Madrigal Pharmaceuticals from $640.00 to $709.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Madrigal Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $687.93.

Madrigal Pharmaceuticals Price Performance

Shares of NASDAQ MDGL opened at $536.70 on Friday. 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 company’s 50-day moving average price is $511.48 and its 200 day moving average price is $503.93. Madrigal Pharmaceuticals, Inc. has a 52 week low of $286.44 and a 52 week high of $615.00. The stock has a market cap of $12.38 billion, a price-to-earnings ratio of -41.93 and a beta of -1.05.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($3.25) earnings per share (EPS) 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 company had revenue of $311.34 million during the quarter, compared to analysts’ expectations of $301.05 million. During the same quarter in the previous year, the business posted ($3.32) earnings per share. The firm’s quarterly revenue was up 126.8% compared to the same quarter last year. As a group, research analysts forecast that Madrigal Pharmaceuticals, Inc. will post -7.3 earnings per share for the current fiscal 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.