Madrigal Pharmaceuticals, Inc. $MDGL Shares Bought by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. lifted its position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 6.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 19,661 shares of the biopharmaceutical company’s stock after acquiring an additional 1,210 shares during the period. Rockefeller Capital Management L.P. owned 0.09% of Madrigal Pharmaceuticals worth $11,449,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of MDGL. Hsbc Holdings PLC acquired a new position in Madrigal Pharmaceuticals during the 2nd quarter valued at about $309,000. Qube Research & Technologies Ltd acquired a new stake in Madrigal Pharmaceuticals in the 2nd quarter valued at approximately $1,163,000. Sei Investments Co. increased its position in Madrigal Pharmaceuticals by 73.6% in the 2nd quarter. Sei Investments Co. now owns 17,542 shares of the biopharmaceutical company’s stock valued at $5,309,000 after acquiring an additional 7,438 shares during the period. The Manufacturers Life Insurance Company raised its stake in Madrigal Pharmaceuticals by 2.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,416 shares of the biopharmaceutical company’s stock valued at $7,087,000 after acquiring an additional 471 shares in the last quarter. Finally, Bayesian Capital Management LP bought a new stake in Madrigal Pharmaceuticals during the 2nd quarter valued at $418,000. Institutional investors and hedge funds own 98.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. 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. Wells Fargo & Company raised shares of Madrigal Pharmaceuticals to an “overweight” rating in a report on Monday, June 1st. Citigroup reiterated a “market outperform” rating on shares of Madrigal Pharmaceuticals in a research report on Monday, June 1st. Piper Sandler reissued an “overweight” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday. Finally, HC Wainwright restated 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 assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Madrigal Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $687.93.

Madrigal Pharmaceuticals Stock Performance

Shares of NASDAQ MDGL opened at $509.76 on Thursday. The company has a quick ratio of 3.16, a current ratio of 3.50 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $11.76 billion, a price-to-earnings ratio of -39.82 and a beta of -1.07. The stock’s fifty day simple moving average is $508.94 and its 200 day simple moving average is $506.03. Madrigal Pharmaceuticals, Inc. has a 52-week low of $277.64 and a 52-week high of $615.00.

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. The company had revenue of $311.34 million for the quarter, compared to analyst estimates of $301.05 million. Madrigal Pharmaceuticals had a negative return on equity of 50.15% and a negative net margin of 27.32%.Madrigal Pharmaceuticals’s revenue for the quarter was up 126.8% compared to the same quarter last year. During the same period in the previous year, the firm earned ($3.32) earnings per share. As a group, sell-side analysts forecast that Madrigal Pharmaceuticals, Inc. will post -7.3 earnings per share for the current fiscal year.

Insider Transactions at Madrigal Pharmaceuticals

In related news, insider David Soergel sold 1,042 shares of the company’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 value 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 represents a 9.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was 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 of the company’s stock, valued at $11,347,411.60. This represents a 20.51% 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 have sold 7,568 shares of company stock valued at $3,880,711 over the last ninety days. Insiders own 17.60% of the company’s stock.

Madrigal Pharmaceuticals Company 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.