HighTower Advisors LLC Has $6.48 Million Stake in Madrigal Pharmaceuticals, Inc. $MDGL

HighTower Advisors LLC lowered its position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 13.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,063 shares of the biopharmaceutical company’s stock after selling 1,851 shares during the period. HighTower Advisors LLC owned about 0.05% of Madrigal Pharmaceuticals worth $6,477,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Concurrent Investment Advisors LLC grew its holdings in shares of Madrigal Pharmaceuticals by 2.0% during the second quarter. Concurrent Investment Advisors LLC now owns 1,034 shares of the biopharmaceutical company’s stock worth $555,000 after purchasing an additional 20 shares during the last quarter. Centaurus Financial Inc. increased its stake in shares of Madrigal Pharmaceuticals by 5.0% in the third quarter. Centaurus Financial Inc. now owns 709 shares of the biopharmaceutical company’s stock valued at $325,000 after buying an additional 34 shares during the period. Accent Capital Management LLC raised its holdings in Madrigal Pharmaceuticals by 64.9% in the 4th quarter. Accent Capital Management LLC now owns 94 shares of the biopharmaceutical company’s stock valued at $55,000 after buying an additional 37 shares during the last quarter. Swiss Life Asset Management Ltd raised its holdings in Madrigal Pharmaceuticals by 6.8% in the 4th quarter. Swiss Life Asset Management Ltd now owns 690 shares of the biopharmaceutical company’s stock valued at $402,000 after buying an additional 44 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in Madrigal Pharmaceuticals by 35.4% during the 2nd quarter. GAMMA Investing LLC now owns 172 shares of the biopharmaceutical company’s stock worth $92,000 after buying an additional 45 shares during the period. Institutional investors and hedge funds own 98.50% of the company’s stock.

Insider Transactions at Madrigal Pharmaceuticals

In related news, General Counsel Shannon Kelley sold 664 shares of the business’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $514.97, for a total value of $341,940.08. Following the transaction, the general counsel owned 11,474 shares in the company, valued at $5,908,765.78. The trade was a 5.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 17.60% of the stock is currently owned by insiders.

Madrigal Pharmaceuticals Stock Performance

NASDAQ:MDGL opened at $533.12 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 2.94 and a current ratio of 3.20. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $393.61 and a fifty-two week high of $615.00. The company has a 50 day simple moving average of $530.87 and a two-hundred day simple moving average of $507.44. The company has a market capitalization of $12.32 billion, a PE ratio of -41.36 and a beta of -0.98.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported ($1.99) earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $352.13 million. During the same quarter in the previous year, the company earned ($1.90) EPS. The company’s revenue for the quarter was up 71.2% on a year-over-year basis. Research analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -7.03 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. UBS Group reissued a “buy” rating on shares of Madrigal Pharmaceuticals in a report on Friday, July 31st. Wolfe Research upgraded shares of Madrigal Pharmaceuticals from a “peer perform” rating to an “outperform” rating and set a $605.00 price target on the stock in a report on Tuesday, August 4th. Bank of America reduced their price objective on shares of Madrigal Pharmaceuticals from $550.00 to $542.00 and set a “neutral” rating on the stock in a research note on Thursday, June 11th. Piper Sandler restated an “overweight” rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, June 24th. Finally, Barclays lowered their target price on Madrigal Pharmaceuticals from $964.00 to $962.00 and set an “overweight” rating for the company in a research report on Monday, August 3rd. Fifteen investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $699.64.

Madrigal Pharmaceuticals Profile

Madrigal Pharmaceuticals, Inc (NASDAQ: MDGL) is a biopharmaceutical company focused on developing and commercializing therapies for cardiometabolic diseases, particularly nonalcoholic steatohepatitis, now commonly referred to as metabolic dysfunction-associated steatohepatitis (MASH).

The company’s lead product is Rezdiffra (resmetirom), an oral, thyroid hormone receptor beta agonist designed to target underlying liver disease. In 2024, the U.S. Food and Drug Administration approved Rezdiffra for use with diet and exercise to treat adults with noncirrhotic MASH and moderate to advanced liver fibrosis.