Cavalier Investments LLC Sells 69 Shares of Madrigal Pharmaceuticals, Inc. $MDGL

Cavalier Investments LLC reduced its position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 1.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,710 shares of the biopharmaceutical company’s stock after selling 69 shares during the quarter. Cavalier Investments LLC’s holdings in Madrigal Pharmaceuticals were worth $1,123,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Mutual of America Capital Management LLC boosted its position in Madrigal Pharmaceuticals by 0.3% during the 1st quarter. Mutual of America Capital Management LLC now owns 11,263 shares of the biopharmaceutical company’s stock worth $3,731,000 after buying an additional 31 shares during the period. Park Avenue Securities LLC boosted its position in Madrigal Pharmaceuticals by 6.6% during the 2nd quarter. Park Avenue Securities LLC now owns 699 shares of the biopharmaceutical company’s stock worth $212,000 after buying an additional 43 shares during the period. First Horizon Advisors Inc. boosted its position in Madrigal Pharmaceuticals by 38.9% during the 1st quarter. First Horizon Advisors Inc. now owns 157 shares of the biopharmaceutical company’s stock worth $52,000 after buying an additional 44 shares during the period. GAMMA Investing LLC boosted its position in Madrigal Pharmaceuticals by 131.4% during the 1st quarter. GAMMA Investing LLC now owns 118 shares of the biopharmaceutical company’s stock worth $39,000 after buying an additional 67 shares during the period. Finally, Verity Asset Management Inc. boosted its position in Madrigal Pharmaceuticals by 4.7% during the 1st quarter. Verity Asset Management Inc. now owns 1,560 shares of the biopharmaceutical company’s stock worth $517,000 after buying an additional 70 shares during the period. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Cowen restated a “buy” rating on shares of Madrigal Pharmaceuticals in a research report on Tuesday, August 26th. HC Wainwright assumed coverage on shares of Madrigal Pharmaceuticals in a research report on Thursday, September 4th. They issued a “buy” rating and a $500.00 price target on the stock. Piper Sandler boosted their price target on shares of Madrigal Pharmaceuticals from $400.00 to $540.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. Truist Financial assumed coverage on shares of Madrigal Pharmaceuticals in a research report on Tuesday, October 14th. They issued a “buy” rating and a $580.00 price target on the stock. Finally, JMP Securities boosted their price target on shares of Madrigal Pharmaceuticals from $483.00 to $485.00 and gave the stock a “market outperform” rating in a research report on Wednesday, August 20th. Eleven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $532.70.

Insider Activity at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, Director Kenneth Bate sold 10,000 shares of the stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $365.20, for a total transaction of $3,652,000.00. Following the completion of the transaction, the director owned 2,627 shares in the company, valued at $959,380.40. This trade represents a 79.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Rebecca Taub sold 43,263 shares of the stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $355.69, for a total transaction of $15,388,216.47. Following the completion of the sale, the director directly owned 461,044 shares in the company, valued at approximately $163,988,740.36. The trade was a 8.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 165,683 shares of company stock valued at $61,921,142 and have sold 248,642 shares valued at $91,388,103. Corporate insiders own 21.50% of the company’s stock.

Madrigal Pharmaceuticals Stock Performance

Shares of MDGL stock opened at $430.00 on Wednesday. The firm has a market capitalization of $9.55 billion, a PE ratio of -33.46 and a beta of -1.02. The firm has a fifty day simple moving average of $427.77 and a two-hundred day simple moving average of $345.97. The company has a current ratio of 5.11, a quick ratio of 4.78 and a debt-to-equity ratio of 0.17. Madrigal Pharmaceuticals, Inc. has a 12 month low of $200.63 and a 12 month high of $463.63.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($1.90) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.48) by $1.58. Madrigal Pharmaceuticals had a negative net margin of 54.68% and a negative return on equity of 38.38%. The firm had revenue of $212.80 million during the quarter, compared to analyst estimates of $158.94 million. During the same quarter in the prior year, the business posted ($7.10) EPS. The business’s revenue was up 1357.5% compared to the same quarter last year. Analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current fiscal year.

Madrigal Pharmaceuticals Company Profile

Madrigal Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development of therapeutics for the treatment of non-alcoholic steatohepatitis (NASH) in the United States. Its lead product candidate is resmetirom, a liver-directed thyroid hormone receptor beta agonist, which is in Phase 3 clinical trials for treating NASH.