State of Wyoming Invests $1.29 Million in Madrigal Pharmaceuticals, Inc. $MDGL

State of Wyoming acquired a new position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) during the 2nd quarter, HoldingsChannel.com reports. The firm acquired 2,410 shares of the biopharmaceutical company’s stock, valued at approximately $1,294,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Janus Henderson Group PLC lifted its position in Madrigal Pharmaceuticals by 27.4% during the first quarter. Janus Henderson Group PLC now owns 2,018,647 shares of the biopharmaceutical company’s stock valued at $1,051,727,000 after purchasing an additional 433,804 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Madrigal Pharmaceuticals by 5,381.2% in the 3rd 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. Norges Bank bought a new position in shares of Madrigal Pharmaceuticals in the 4th quarter worth $114,368,000. Deutsche Bank AG raised its position in shares of Madrigal Pharmaceuticals by 414.5% during the 4th quarter. Deutsche Bank AG now owns 192,109 shares of the biopharmaceutical company’s stock valued at $111,873,000 after buying an additional 154,767 shares in the last quarter. Finally, Lord Abbett & CO. LLC raised its position in shares of Madrigal Pharmaceuticals by 139.7% during the 4th quarter. Lord Abbett & CO. LLC now owns 244,796 shares of the biopharmaceutical company’s stock valued at $142,555,000 after buying an additional 142,653 shares in the last quarter. 98.50% of the stock is owned by hedge funds and other institutional investors.

Madrigal Pharmaceuticals Stock Up 0.0%

Shares of NASDAQ MDGL opened at $507.56 on Friday. The stock has a market capitalization of $11.72 billion, a P/E ratio of -39.38 and a beta of -1.01. Madrigal Pharmaceuticals, Inc. has a one year low of $351.32 and a one year high of $615.00. The firm’s 50 day simple moving average is $519.31 and its two-hundred day simple moving average is $500.00. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.20 and a quick ratio of 2.94.

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

Insider Buying and Selling at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, Director Richard S. Levy sold 5,682 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $515.44, for a total value of $2,928,730.08. Following the completion of the sale, the director directly owned 22,015 shares of the company’s stock, valued at $11,347,411.60. The trade was a 20.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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 dated Monday, June 1st. The shares were sold at an average price of $495.74, for a total transaction of $516,561.08. Following the sale, the insider owned 10,033 shares of the company’s stock, valued at approximately $4,973,759.42. The trade was a 9.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 7,568 shares of company stock valued at $3,880,711 over the last three months. 17.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Wells Fargo & Company initiated coverage on shares of Madrigal Pharmaceuticals in a report on Monday, July 27th. They set an “overweight” rating and a $685.00 price objective for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a research note on Friday, July 17th. Citigroup restated an “outperform” rating on shares of Madrigal Pharmaceuticals in a research report on Friday, July 17th. UBS Group reaffirmed a “buy” rating on shares of Madrigal Pharmaceuticals in a research note on Friday, July 31st. Finally, HC Wainwright reiterated a “buy” rating on shares of Madrigal Pharmaceuticals in a report on Friday, July 31st. Fifteen research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Madrigal Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $689.93.

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.