Madrigal Pharmaceuticals, Inc. $MDGL is Avoro Capital Advisors LLC’s 3rd Largest Position

Avoro Capital Advisors LLC decreased its stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 1.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,807,500 shares of the biopharmaceutical company’s stock after selling 25,500 shares during the quarter. Madrigal Pharmaceuticals accounts for 10.1% of Avoro Capital Advisors LLC’s portfolio, making the stock its 3rd largest position. Avoro Capital Advisors LLC owned about 0.08% of Madrigal Pharmaceuticals worth $1,052,580,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Flagship Harbor Advisors LLC acquired a new stake in shares of Madrigal Pharmaceuticals during the fourth quarter worth $29,000. Aventura Private Wealth LLC acquired a new stake in shares of Madrigal Pharmaceuticals during the fourth quarter worth $36,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Madrigal Pharmaceuticals during the third quarter worth $39,000. Eastern Bank boosted its holdings in shares of Madrigal Pharmaceuticals by 32.3% during the fourth quarter. Eastern Bank now owns 86 shares of the biopharmaceutical company’s stock worth $50,000 after purchasing an additional 21 shares during the last quarter. Finally, Quarry LP acquired a new stake in shares of Madrigal Pharmaceuticals during the third quarter worth $39,000. Institutional investors and hedge funds own 98.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on MDGL. Canaccord Genuity Group decreased their price objective on Madrigal Pharmaceuticals from $587.00 to $578.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Bank of America decreased their price objective on Madrigal Pharmaceuticals from $550.00 to $542.00 and set a “neutral” rating on the stock in a report on Thursday, June 11th. Citigroup restated a “market outperform” rating on shares of Madrigal Pharmaceuticals in a report on Monday, June 1st. Weiss Ratings restated a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a report on Tuesday, April 21st. Finally, Wells Fargo & Company upgraded Madrigal Pharmaceuticals to an “overweight” rating in a report 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 given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Madrigal Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $687.93.

Insider Transactions at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, insider David Soergel sold 1,042 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $495.74, for a total transaction of $516,561.08. Following the transaction, the insider owned 10,033 shares in the company, valued at $4,973,759.42. The trade was a 9.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Richard S. Levy sold 5,682 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $515.44, for a total value of $2,928,730.08. Following the transaction, the director owned 22,015 shares in the company, valued at approximately $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. In the last 90 days, insiders have sold 7,568 shares of company stock worth $3,880,711. 17.60% of the stock is currently owned by insiders.

Madrigal Pharmaceuticals Trading Up 0.3%

Shares of MDGL opened at $501.19 on Wednesday. The stock’s 50-day moving average is $510.69 and its two-hundred day moving average is $509.33. The stock has a market cap of $11.56 billion, a PE ratio of -39.16 and a beta of -1.07. Madrigal Pharmaceuticals, Inc. has a 12 month low of $275.00 and a 12 month high of $615.00. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.50 and a quick ratio of 3.16.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued 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 company had revenue of $311.34 million for the quarter, compared to analysts’ expectations of $301.05 million. Madrigal Pharmaceuticals had a negative return on equity of 50.15% and a negative net margin of 27.32%.The firm’s quarterly revenue 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 analysts forecast that Madrigal Pharmaceuticals, Inc. will post -7.3 earnings per share for the current fiscal year.

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-? agonist in Phase 3 development for the treatment of NASH.