Eversept Partners LP Takes Position in Madrigal Pharmaceuticals, Inc. $MDGL

Eversept Partners LP bought a new position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) during the 1st quarter, Holdings Channel reports. The firm bought 10,000 shares of the biopharmaceutical company’s stock, valued at approximately $5,235,000.

A number of other large investors have also bought and sold shares of MDGL. Wellington Management Group LLP increased its holdings in Madrigal Pharmaceuticals by 14.1% during the 4th quarter. Wellington Management Group LLP now owns 461,402 shares of the biopharmaceutical company’s stock valued at $268,693,000 after purchasing an additional 56,947 shares in the last quarter. Geode Capital Management LLC boosted its stake in Madrigal Pharmaceuticals by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 451,743 shares of the biopharmaceutical company’s stock worth $263,114,000 after purchasing an additional 5,510 shares in the last quarter. Invesco Ltd. boosted its stake in Madrigal Pharmaceuticals by 21.9% in the fourth quarter. Invesco Ltd. now owns 365,314 shares of the biopharmaceutical company’s stock worth $212,737,000 after purchasing an additional 65,749 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Madrigal Pharmaceuticals by 12.7% during the second quarter. Bank of America Corp DE now owns 277,221 shares of the biopharmaceutical company’s stock worth $83,898,000 after purchasing an additional 31,260 shares during the last quarter. Finally, Polar Capital Holdings Plc grew its holdings in shares of Madrigal Pharmaceuticals by 1.9% during the fourth quarter. Polar Capital Holdings Plc now owns 270,151 shares of the biopharmaceutical company’s stock worth $157,320,000 after purchasing an additional 4,997 shares during the last quarter. 98.50% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Madrigal Pharmaceuticals news, insider David Soergel sold 1,042 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was 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 approximately $4,973,759.42. This trade represents a 9.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Richard S. Levy sold 5,682 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $515.44, for a total value of $2,928,730.08. Following the transaction, the director owned 22,015 shares in the company, valued at approximately $11,347,411.60. This trade represents a 20.51% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 7,568 shares of company stock valued at $3,880,711. 17.60% of the stock is owned by insiders.

Madrigal Pharmaceuticals Price Performance

MDGL opened at $551.25 on Tuesday. The company has a fifty day moving average price of $516.68 and a two-hundred day moving average price of $499.64. The firm has a market capitalization of $12.71 billion, a PE ratio of -43.07 and a beta of -1.05. Madrigal Pharmaceuticals, Inc. has a 52 week low of $286.44 and a 52 week high of $615.00. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.16 and a current ratio of 3.50.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($3.25) earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $311.34 million for the quarter, compared to the consensus estimate of $301.05 million. During the same quarter in the prior year, the business posted ($3.32) EPS. The firm’s quarterly revenue was up 126.8% on a year-over-year basis. As a group, analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -7.45 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on MDGL shares. Weiss Ratings restated a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a research note on Friday, July 17th. Canaccord Genuity Group decreased their price objective on shares of Madrigal Pharmaceuticals from $587.00 to $578.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Piper Sandler reissued an “overweight” rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, June 24th. Citigroup restated an “outperform” rating on shares of Madrigal Pharmaceuticals in a research report on Friday, July 17th. Finally, Evercore set a $649.00 target price on shares of Madrigal Pharmaceuticals in a research note on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $687.73.

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.