Emerald Mutual Fund Advisers Trust Has $8.64 Million Position in Madrigal Pharmaceuticals, Inc. $MDGL

Emerald Mutual Fund Advisers Trust lessened its holdings in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 34.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,500 shares of the biopharmaceutical company’s stock after selling 8,496 shares during the period. Emerald Mutual Fund Advisers Trust owned approximately 0.07% of Madrigal Pharmaceuticals worth $8,637,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Wellington Management Group LLP raised its holdings in Madrigal Pharmaceuticals by 14.1% during the 4th quarter. Wellington Management Group LLP now owns 461,402 shares of the biopharmaceutical company’s stock worth $268,693,000 after buying an additional 56,947 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Madrigal Pharmaceuticals by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 451,743 shares of the biopharmaceutical company’s stock valued at $263,114,000 after buying an additional 5,510 shares during the period. Invesco Ltd. boosted its holdings in shares of Madrigal Pharmaceuticals by 21.9% in the fourth quarter. Invesco Ltd. now owns 365,314 shares of the biopharmaceutical company’s stock valued at $212,737,000 after buying an additional 65,749 shares during the period. Bank of America Corp DE increased its position in shares of Madrigal Pharmaceuticals by 12.7% during the second quarter. Bank of America Corp DE now owns 277,221 shares of the biopharmaceutical company’s stock worth $83,898,000 after acquiring an additional 31,260 shares in the last quarter. Finally, Polar Capital Holdings Plc increased its position in shares of Madrigal Pharmaceuticals by 1.9% during the fourth quarter. Polar Capital Holdings Plc now owns 270,151 shares of the biopharmaceutical company’s stock worth $157,320,000 after acquiring an additional 4,997 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Truist Financial boosted their price objective 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. Wells Fargo & Company upgraded Madrigal Pharmaceuticals to an “overweight” rating in a report on Monday, June 1st. Piper Sandler reissued an “overweight” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, June 24th. HC Wainwright reissued a “buy” rating and issued a $620.00 price target on shares of Madrigal Pharmaceuticals in a research note on Wednesday, May 6th. Finally, Canaccord Genuity Group cut their price target on Madrigal Pharmaceuticals from $587.00 to $578.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $687.93.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other news, Director Richard S. Levy sold 5,682 shares of the stock in a transaction dated 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 directly owned 22,015 shares in the company, valued at $11,347,411.60. This represents a 20.51% decrease in their position. The transaction was disclosed in a filing with the SEC, 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 the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $495.74, for a total value 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. The trade was a 9.41% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 7,568 shares of company stock worth $3,880,711 over the last quarter. Company insiders own 17.60% of the company’s stock.

Madrigal Pharmaceuticals Price Performance

NASDAQ MDGL opened at $531.00 on Tuesday. 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 12-month low of $286.44 and a 12-month high of $615.00. The company has a market capitalization of $12.24 billion, a PE ratio of -41.48 and a beta of -1.05. The firm’s 50 day moving average is $511.76 and its 200-day moving average is $502.73.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported ($3.25) EPS 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 analyst estimates of $301.05 million. Madrigal Pharmaceuticals had a negative net margin of 27.32% and a negative return on equity of 50.15%. The firm’s revenue for the quarter was up 126.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($3.32) earnings per share. Equities research analysts anticipate 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.