Cynosure Group LLC Acquires New Holdings in Madrigal Pharmaceuticals, Inc. $MDGL

Cynosure Group LLC acquired a new stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 1,025 shares of the biopharmaceutical company’s stock, valued at approximately $597,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Baker BROS. Advisors LP raised its position in 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 in the last quarter. Iron Triangle Partners LP bought a new position in Madrigal Pharmaceuticals during the third quarter valued at approximately $26,776,000. Toth Financial Advisory Corp bought a new position in Madrigal Pharmaceuticals during the fourth quarter valued at approximately $1,165,000. Peak Financial Advisors LLC raised its position in Madrigal Pharmaceuticals by 287.0% during the fourth quarter. Peak Financial Advisors LLC now owns 4,466 shares of the biopharmaceutical company’s stock valued at $2,601,000 after acquiring an additional 3,312 shares in the last quarter. Finally, Capricorn Fund Managers Ltd bought a new position in Madrigal Pharmaceuticals during the fourth quarter valued at approximately $3,843,000. Institutional investors own 98.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Canaccord Genuity Group cut their price objective on shares of Madrigal Pharmaceuticals from $587.00 to $578.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Truist Financial lifted 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. Wells Fargo & Company raised shares of Madrigal Pharmaceuticals to an “overweight” rating in a research report on Monday, June 1st. Citigroup reissued a “market outperform” rating on shares of Madrigal Pharmaceuticals in a research report on Monday, June 1st. Finally, Evercore set a $649.00 price target on shares of Madrigal Pharmaceuticals in a research report on Thursday, May 7th. 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 assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $687.93.

Madrigal Pharmaceuticals Trading Up 3.9%

NASDAQ:MDGL opened at $499.76 on Tuesday. Madrigal Pharmaceuticals, Inc. has a 12 month low of $275.00 and a 12 month high of $615.00. The firm has a market cap of $11.52 billion, a price-to-earnings ratio of -39.04 and a beta of -1.07. 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 company’s 50 day moving average is $511.60 and its 200-day moving average is $510.03.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($3.25) EPS for the quarter, beating 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 net margin of 27.32% and a negative return on equity of 50.15%. The company’s quarterly revenue was up 126.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($3.32) earnings per share. Equities analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -7.3 EPS for the current year.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other news, Director Richard S. Levy sold 5,682 shares of the firm’s 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 sale, the director owned 22,015 shares in the company, valued at approximately $11,347,411.60. This trade represents a 20.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 on 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. The trade was 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 90 days, insiders sold 7,568 shares of company stock worth $3,880,711. 17.60% of the stock is currently owned by corporate 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-? agonist in Phase 3 development for the treatment of NASH.