Janus Henderson Group PLC Cuts Stock Position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Janus Henderson Group PLC trimmed its holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 0.3% during the third quarter, Holdings Channel reports. The institutional investor owned 2,478,160 shares of the biopharmaceutical company’s stock after selling 7,591 shares during the period. Janus Henderson Group PLC owned approximately 0.11% of Madrigal Pharmaceuticals worth $525,893,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of MDGL. Erste Asset Management GmbH acquired a new position in Madrigal Pharmaceuticals during the 3rd quarter worth $49,749,000. Paulson & CO. Inc. increased its holdings in shares of Madrigal Pharmaceuticals by 10.4% in the third quarter. Paulson & CO. Inc. now owns 2,042,000 shares of the biopharmaceutical company’s stock valued at $433,353,000 after purchasing an additional 192,000 shares during the period. Braidwell LP purchased a new position in shares of Madrigal Pharmaceuticals in the third quarter valued at approximately $39,010,000. Fiera Capital Corp acquired a new stake in shares of Madrigal Pharmaceuticals in the second quarter valued at approximately $32,335,000. Finally, Avoro Capital Advisors LLC grew its position in Madrigal Pharmaceuticals by 5.7% in the 2nd quarter. Avoro Capital Advisors LLC now owns 2,055,555 shares of the biopharmaceutical company’s stock valued at $575,884,000 after acquiring an additional 111,111 shares in the last quarter. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on MDGL shares. HC Wainwright restated a “buy” rating and issued a $390.00 target price on shares of Madrigal Pharmaceuticals in a research note on Tuesday, October 22nd. B. Riley upped their price objective on shares of Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Evercore ISI dropped their target price on Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Oppenheimer reduced their price objective on Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Finally, Cantor Fitzgerald reiterated a “neutral” rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, November 20th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $347.33.

Insider Buying and Selling at Madrigal Pharmaceuticals

In related news, Director Richard S. Levy sold 5,000 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $300.94, for a total value of $1,504,700.00. Following the sale, the director now directly owns 11,012 shares in the company, valued at approximately $3,313,951.28. The trade was a 31.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William John Sibold sold 6,363 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $243.83, for a total value of $1,551,490.29. Following the completion of the sale, the chief executive officer now directly owns 55,887 shares of the company’s stock, valued at approximately $13,626,927.21. This represents a 10.22 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,763 shares of company stock worth $4,247,210. Insiders own 22.80% of the company’s stock.

Madrigal Pharmaceuticals Price Performance

Shares of NASDAQ:MDGL opened at $318.55 on Tuesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.93 and a current ratio of 5.98. The stock’s fifty day simple moving average is $264.17 and its 200-day simple moving average is $260.09. Madrigal Pharmaceuticals, Inc. has a 52-week low of $168.25 and a 52-week high of $368.29.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share (EPS) for the quarter, beating the consensus estimate of ($6.94) by $2.02. The firm had revenue of $62.18 million for the quarter, compared to analyst estimates of $34.60 million. During the same quarter last year, the business posted ($5.34) earnings per share. On average, research analysts predict that Madrigal Pharmaceuticals, Inc. will post -24.08 EPS for the current year.

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.