Madrigal Pharmaceuticals, Inc. $MDGL Shares Bought by Castleark Management LLC

Castleark Management LLC grew its holdings in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 45.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 14,466 shares of the biopharmaceutical company’s stock after buying an additional 4,540 shares during the quarter. Castleark Management LLC’s holdings in Madrigal Pharmaceuticals were worth $8,424,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of MDGL. Hsbc Holdings PLC acquired a new position in shares of Madrigal Pharmaceuticals during the second quarter valued at $309,000. Qube Research & Technologies Ltd acquired a new position in shares of Madrigal Pharmaceuticals during the second quarter valued at $1,163,000. Sei Investments Co. increased its holdings in shares of Madrigal Pharmaceuticals by 73.6% during the second quarter. Sei Investments Co. now owns 17,542 shares of the biopharmaceutical company’s stock valued at $5,309,000 after purchasing an additional 7,438 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Madrigal Pharmaceuticals by 2.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,416 shares of the biopharmaceutical company’s stock valued at $7,087,000 after purchasing an additional 471 shares during the period. Finally, Bayesian Capital Management LP acquired a new position in shares of Madrigal Pharmaceuticals during the 2nd quarter valued at $418,000. 98.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on MDGL. HC Wainwright reiterated a “buy” rating and set a $620.00 price target on shares of Madrigal Pharmaceuticals in a research report on Wednesday, May 6th. Evercore set a $649.00 price target on Madrigal Pharmaceuticals in a research report on Thursday, May 7th. Citigroup reiterated a “market outperform” rating on shares of Madrigal Pharmaceuticals in a research report on Monday, June 1st. Zacks Research upgraded Madrigal Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Friday, February 20th. Finally, Bank of America lowered their price target on Madrigal Pharmaceuticals from $550.00 to $542.00 and set a “neutral” rating on the stock in a research report on Thursday. One investment 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $687.93.

Madrigal Pharmaceuticals Trading Up 1.4%

Madrigal Pharmaceuticals stock opened at $480.77 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.16 and a current ratio of 3.50. The firm has a market cap of $11.09 billion, a price-to-earnings ratio of -37.56 and a beta of -1.07. Madrigal Pharmaceuticals, Inc. has a 1 year low of $275.00 and a 1 year high of $615.00. The firm’s 50 day moving average price is $512.55 and its two-hundred day moving average price is $511.22.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($3.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.61) by $0.36. The firm had revenue of $311.34 million for the quarter, compared to analyst estimates of $301.05 million. Madrigal Pharmaceuticals had a negative net margin of 27.32% and a negative return on equity of 50.15%. The firm’s quarterly revenue was up 126.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($3.32) earnings per share. On average, research analysts predict that Madrigal Pharmaceuticals, Inc. will post -7.23 EPS for the current fiscal year.

Insider Activity at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, insider David Soergel sold 1,042 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $495.74, for a total value of $516,561.08. Following the transaction, the insider owned 10,033 shares in the company, valued at approximately $4,973,759.42. The trade was a 9.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Richard S. Levy sold 5,682 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $515.44, for a total transaction of $2,928,730.08. Following the completion of the transaction, the director directly owned 22,015 shares in the company, valued at approximately $11,347,411.60. This trade represents a 20.51% decrease in their ownership of the stock. 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. In the last 90 days, insiders sold 7,568 shares of company stock worth $3,880,711. 17.60% of the stock is currently owned by company 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-β agonist in Phase 3 development for the treatment of NASH.