9,980 Shares in Madrigal Pharmaceuticals, Inc. $MDGL Bought by EFG International AG

EFG International AG acquired a new stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) during the second quarter, HoldingsChannel.com reports. The institutional investor acquired 9,980 shares of the biopharmaceutical company’s stock, valued at approximately $5,360,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Persistent Asset Partners Ltd bought a new position in Madrigal Pharmaceuticals in the second quarter worth about $29,000. Global Retirement Partners LLC bought a new stake in shares of Madrigal Pharmaceuticals in the 2nd quarter valued at about $34,000. Kemnay Advisory Services Inc. bought a new stake in shares of Madrigal Pharmaceuticals in the 4th quarter valued at about $39,000. Quarry LP purchased a new position in shares of Madrigal Pharmaceuticals in the 3rd quarter worth approximately $39,000. Finally, Johnson Financial Group Inc. purchased a new position in shares of Madrigal Pharmaceuticals in the 3rd quarter worth approximately $50,000. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Insider Buying and Selling

In other news, 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 sale, the insider directly owned 10,033 shares in the company, valued at approximately $4,973,759.42. The trade was a 9.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Shannon T. Kelley sold 664 shares of the business’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $514.97, for a total transaction of $341,940.08. Following the sale, the general counsel directly owned 11,474 shares in the company, valued at $5,908,765.78. This trade represents a 5.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 17.60% of the company’s stock.

Madrigal Pharmaceuticals Stock Performance

MDGL opened at $512.16 on Wednesday. Madrigal Pharmaceuticals, Inc. has a 52-week low of $393.61 and a 52-week high of $615.00. The company has a quick ratio of 2.94, a current ratio of 3.20 and a debt-to-equity ratio of 0.65. The company has a market cap of $11.83 billion, a P/E ratio of -39.73 and a beta of -1.01. The firm’s 50-day moving average price is $524.86 and its 200-day moving average price is $501.54.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its earnings results on Thursday, July 30th. The biopharmaceutical company reported ($1.99) EPS for the quarter, topping analysts’ consensus estimates of ($2.68) by $0.69. The company had revenue of $364.25 million during the quarter, compared to analysts’ expectations of $352.13 million. Madrigal Pharmaceuticals had a negative net margin of 25.32% and a negative return on equity of 56.65%. Madrigal Pharmaceuticals’s revenue for the quarter was up 71.2% on a year-over-year basis. During the same period last year, the business earned ($1.90) EPS. As a group, equities analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -7.03 EPS for the current fiscal year.

Analyst Ratings Changes

MDGL has been the subject of a number of analyst reports. Citigroup reissued an “outperform” rating on shares of Madrigal Pharmaceuticals in a research report on Friday, July 17th. Wells Fargo & Company started coverage on shares of Madrigal Pharmaceuticals in a report on Monday, July 27th. They issued an “overweight” rating and a $685.00 price target on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a research report on Friday, July 17th. Wolfe Research upgraded Madrigal Pharmaceuticals from a “peer perform” rating to an “outperform” rating and set a $605.00 price objective for the company in a report on Tuesday, August 4th. Finally, Truist Financial raised their price objective on Madrigal Pharmaceuticals from $640.00 to $709.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Fifteen investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Madrigal Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $699.64.

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