Madrigal Pharmaceuticals, Inc. $MDGL Shares Purchased by Janus Henderson Group PLC

Janus Henderson Group PLC boosted its stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 27.4% in the first quarter, Holdings Channel reports. The fund owned 2,018,647 shares of the biopharmaceutical company’s stock after buying an additional 433,804 shares during the quarter. Janus Henderson Group PLC owned approximately 0.09% of Madrigal Pharmaceuticals worth $1,051,727,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Hsbc Holdings PLC acquired a new position in shares of Madrigal Pharmaceuticals during the second quarter worth $309,000. Qube Research & Technologies Ltd purchased a new position in shares of Madrigal Pharmaceuticals in the second quarter valued at $1,163,000. Sei Investments Co. grew its holdings in Madrigal Pharmaceuticals by 73.6% during the 2nd 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 in the last quarter. The Manufacturers Life Insurance Company increased its stake in 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 worth $7,087,000 after buying an additional 471 shares during the period. Finally, Bayesian Capital Management LP purchased a new stake in Madrigal Pharmaceuticals during the 2nd quarter worth $418,000. Institutional investors and hedge funds own 98.50% of the company’s stock.

Insider Activity

In related news, Director Richard S. Levy sold 5,682 shares of the business’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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 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 sale, the insider owned 10,033 shares in the company, valued at $4,973,759.42. The trade was a 9.41% decrease in their position. 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. Insiders have sold 7,568 shares of company stock worth $3,880,711 in the last ninety days. Corporate insiders own 17.60% of the company’s stock.

Madrigal Pharmaceuticals Trading Up 1.5%

NASDAQ MDGL opened at $546.88 on Thursday. Madrigal Pharmaceuticals, Inc. has a 12 month low of $286.44 and a 12 month high of $615.00. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.50 and a quick ratio of 3.16. The company has a market capitalization of $12.61 billion, a price-to-earnings ratio of -42.72 and a beta of -1.05. The company’s fifty day moving average price is $517.89 and its two-hundred day moving average price is $499.42.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported ($3.25) earnings per share for the quarter, topping the consensus estimate of ($3.61) by $0.36. The company had revenue of $311.34 million during 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 revenue for the quarter was up 126.8% compared to the same quarter last year. During the same period last year, the business earned ($3.32) EPS. As a group, research analysts predict that Madrigal Pharmaceuticals, Inc. will post -7.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MDGL has been the topic of a number of recent analyst reports. Citigroup reiterated an “outperform” rating on shares of Madrigal Pharmaceuticals in a report on Friday, July 17th. Bank of America lowered their target price on Madrigal Pharmaceuticals from $550.00 to $542.00 and set a “neutral” rating for the company in a research note on Thursday, June 11th. HC Wainwright reaffirmed a “buy” rating and set a $620.00 target price on shares of Madrigal Pharmaceuticals in a research report on Wednesday, May 6th. Truist Financial boosted their price target on Madrigal Pharmaceuticals from $640.00 to $709.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $688.33.

About Madrigal Pharmaceuticals

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.