Emerald Advisers LLC Cuts Holdings in Madrigal Pharmaceuticals, Inc. $MDGL

Emerald Advisers LLC decreased its holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 3.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 37,654 shares of the biopharmaceutical company’s stock after selling 1,259 shares during the period. Emerald Advisers LLC owned about 0.16% of Madrigal Pharmaceuticals worth $19,711,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of MDGL. Flagship Harbor Advisors LLC purchased a new position in shares of Madrigal Pharmaceuticals in the 4th quarter valued at $29,000. Aventura Private Wealth LLC bought a new stake in Madrigal Pharmaceuticals during the fourth quarter valued at about $36,000. Kemnay Advisory Services Inc. bought a new stake in Madrigal Pharmaceuticals during the fourth quarter valued at about $39,000. Eastern Bank grew its stake in Madrigal Pharmaceuticals by 32.3% in the fourth quarter. Eastern Bank now owns 86 shares of the biopharmaceutical company’s stock valued at $50,000 after purchasing an additional 21 shares during the last quarter. Finally, Quarry LP purchased a new position in Madrigal Pharmaceuticals in the third quarter valued at about $39,000. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on MDGL. Wells Fargo & Company raised shares of Madrigal Pharmaceuticals to an “overweight” rating in a research report on Monday, June 1st. Citigroup reaffirmed a “market outperform” rating on shares of Madrigal Pharmaceuticals in a research report on Monday, June 1st. Piper Sandler reiterated an “overweight” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, June 24th. Canaccord Genuity Group decreased 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 report on Thursday, May 7th. Finally, Truist Financial raised their target price on shares of Madrigal Pharmaceuticals from $640.00 to $709.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $687.93.

Madrigal Pharmaceuticals Trading Down 1.1%

Shares of NASDAQ:MDGL opened at $531.00 on Tuesday. The business’s 50-day moving average is $511.76 and its 200 day moving average is $502.73. Madrigal Pharmaceuticals, Inc. has a 1 year low of $286.44 and a 1 year high of $615.00. The firm has a market capitalization of $12.24 billion, a P/E ratio of -41.48 and a beta of -1.05. 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 results on Wednesday, May 6th. The biopharmaceutical company reported ($3.25) earnings per share for the quarter, topping the consensus estimate of ($3.61) by $0.36. Madrigal Pharmaceuticals had a negative return on equity of 50.15% and a negative net margin of 27.32%.The business had revenue of $311.34 million during the quarter, compared to the consensus estimate of $301.05 million. During the same quarter last year, the company earned ($3.32) earnings per share. The company’s quarterly revenue was up 126.8% on a year-over-year basis. On average, research analysts predict that Madrigal Pharmaceuticals, Inc. will post -7.3 earnings per share for the current fiscal year.

Insider Activity at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, Director Richard S. Levy sold 5,682 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $515.44, for a total transaction of $2,928,730.08. Following the sale, the director owned 22,015 shares of the company’s stock, valued at approximately $11,347,411.60. The trade was a 20.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Soergel sold 1,042 shares of the company’s stock in a transaction that occurred 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 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 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. Insiders sold a total of 7,568 shares of company stock valued at $3,880,711 over the last ninety days. 17.60% of the stock is currently owned by insiders.

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.