KBC Group NV Reduces Holdings in Madrigal Pharmaceuticals, Inc. $MDGL

KBC Group NV decreased its position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 33.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 414 shares of the biopharmaceutical company’s stock after selling 208 shares during the quarter. KBC Group NV’s holdings in Madrigal Pharmaceuticals were worth $125,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Teacher Retirement System of Texas increased its stake in shares of Madrigal Pharmaceuticals by 9.6% in the second quarter. Teacher Retirement System of Texas now owns 3,860 shares of the biopharmaceutical company’s stock worth $1,168,000 after purchasing an additional 338 shares in the last quarter. XTX Topco Ltd bought a new position in Madrigal Pharmaceuticals in the 1st quarter worth approximately $392,000. Rhumbline Advisers grew its stake in Madrigal Pharmaceuticals by 7.9% in the 1st quarter. Rhumbline Advisers now owns 26,364 shares of the biopharmaceutical company’s stock valued at $8,733,000 after buying an additional 1,924 shares in the last quarter. Emerald Mutual Fund Advisers Trust lifted its position in shares of Madrigal Pharmaceuticals by 4.8% during the second quarter. Emerald Mutual Fund Advisers Trust now owns 36,920 shares of the biopharmaceutical company’s stock worth $11,173,000 after acquiring an additional 1,682 shares in the last quarter. Finally, Emerald Advisers LLC lifted its position in shares of Madrigal Pharmaceuticals by 10.9% during the second quarter. Emerald Advisers LLC now owns 53,108 shares of the biopharmaceutical company’s stock worth $16,073,000 after acquiring an additional 5,199 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on MDGL. Oppenheimer boosted their price objective on Madrigal Pharmaceuticals from $600.00 to $650.00 and gave the company an “outperform” rating in a research note on Thursday. Citigroup reiterated an “outperform” rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, November 5th. TD Cowen raised their price objective on shares of Madrigal Pharmaceuticals from $390.00 to $554.00 and gave the company a “buy” rating in a research report on Tuesday, August 26th. Truist Financial upped their target price on shares of Madrigal Pharmaceuticals from $580.00 to $640.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, October 8th. Thirteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Madrigal Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $549.17.

Madrigal Pharmaceuticals Stock Down 2.4%

MDGL stock opened at $542.12 on Friday. The company’s 50 day moving average is $454.65 and its 200 day moving average is $370.97. The stock has a market cap of $12.31 billion, a price-to-earnings ratio of -42.19 and a beta of -1.04. 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 1-year low of $265.00 and a 1-year high of $577.90.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings results on Tuesday, November 4th. The biopharmaceutical company reported ($5.08) EPS for the quarter, missing analysts’ consensus estimates of ($2.01) by ($3.07). Madrigal Pharmaceuticals had a negative return on equity of 38.38% and a negative net margin of 54.68%. Sell-side analysts predict that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO William John Sibold sold 7,279 shares of the company’s stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $445.63, for a total value of $3,243,740.77. Following the completion of the transaction, the chief executive officer directly owned 102,474 shares in the company, valued at approximately $45,665,488.62. This represents a 6.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kenneth Bate sold 16,575 shares of the stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $484.30, for a total value of $8,027,272.50. Following the transaction, the director owned 2,627 shares in the company, valued at $1,272,256.10. This trade represents a 86.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 32,354 shares of company stock worth $15,699,173. Corporate insiders own 21.50% of the company’s stock.

Madrigal Pharmaceuticals 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.