2,902 Shares in Madrigal Pharmaceuticals, Inc. $MDGL Bought by Penn Capital Management Company LLC

Penn Capital Management Company LLC bought a new position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,902 shares of the biopharmaceutical company’s stock, valued at approximately $1,719,000.

A number of other hedge funds have also bought and sold shares of MDGL. Wellington Management Group LLP raised its stake in Madrigal Pharmaceuticals by 5,381.2% during the third quarter. Wellington Management Group LLP now owns 404,455 shares of the biopharmaceutical company’s stock worth $185,507,000 after buying an additional 397,076 shares during the last quarter. Baker BROS. Advisors LP raised its stake 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 worth $982,313,000 after buying an additional 165,683 shares during the last quarter. Alkeon Capital Management LLC bought a new position in Madrigal Pharmaceuticals during the third quarter worth $55,039,000. Invesco Ltd. raised its stake in Madrigal Pharmaceuticals by 49.5% during the third quarter. Invesco Ltd. now owns 299,565 shares of the biopharmaceutical company’s stock worth $137,398,000 after buying an additional 99,209 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its stake in Madrigal Pharmaceuticals by 1,886.1% during the second quarter. BNP Paribas Financial Markets now owns 69,037 shares of the biopharmaceutical company’s stock worth $20,893,000 after buying an additional 65,561 shares during the last quarter. Institutional investors own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Stock Up 1.4%

Shares of NASDAQ:MDGL opened at $524.28 on Wednesday. The business’s 50 day simple moving average is $509.56 and its two-hundred day simple moving average is $515.06. The firm has a market cap of $12.09 billion, a P/E ratio of -40.96 and a beta of -1.04. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.16 and a current ratio of 3.50. Madrigal Pharmaceuticals, Inc. has a 52-week low of $265.00 and a 52-week high of $615.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($3.25) earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 50.15% and a negative net margin of 27.32%.The company’s quarterly revenue was up 126.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($3.32) earnings per share. As a group, research analysts forecast that Madrigal Pharmaceuticals, Inc. will post -6.49 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MDGL. Canaccord Genuity Group lowered their target price on shares of Madrigal Pharmaceuticals from $587.00 to $578.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Bank of America lowered their target price on shares of Madrigal Pharmaceuticals from $570.00 to $529.00 and set a “neutral” rating for the company in a research note on Friday, February 20th. Zacks Research raised shares of Madrigal Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Friday, February 20th. Barclays began coverage on shares of Madrigal Pharmaceuticals in a research note on Tuesday, January 27th. They set an “overweight” rating and a $964.00 target price for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $687.00.

Insiders Place Their Bets

In other news, insider David Soergel sold 844 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $515.90, for a total transaction of $435,419.60. Following the completion of the sale, the insider directly owned 11,075 shares of the company’s stock, valued at $5,713,592.50. The trade was a 7.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO William John Sibold sold 1,663 shares of the business’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $431.94, for a total transaction of $718,316.22. Following the sale, the chief executive officer directly owned 161,829 shares of the company’s stock, valued at approximately $69,900,418.26. The trade was a 1.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 12,624 shares of company stock valued at $5,990,403. 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.