Fox Run Management L.L.C. Takes $1.06 Million Position in Madrigal Pharmaceuticals, Inc. $MDGL

Fox Run Management L.L.C. purchased a new stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) in the third quarter, HoldingsChannel reports. The firm purchased 2,318 shares of the biopharmaceutical company’s stock, valued at approximately $1,063,000.

Other large investors have also recently bought and sold shares of the company. Adage Capital Partners GP L.L.C. boosted its position in Madrigal Pharmaceuticals by 96.3% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 376,163 shares of the biopharmaceutical company’s stock valued at $113,842,000 after buying an additional 184,554 shares during the last quarter. Norges Bank acquired a new position in shares of Madrigal Pharmaceuticals during the second quarter valued at $53,406,000. Invesco Ltd. boosted its holdings in Madrigal Pharmaceuticals by 50.7% in the second quarter. Invesco Ltd. now owns 200,356 shares of the biopharmaceutical company’s stock valued at $60,636,000 after acquiring an additional 67,422 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in Madrigal Pharmaceuticals by 1,886.1% in the second quarter. BNP Paribas Financial Markets now owns 69,037 shares of the biopharmaceutical company’s stock valued at $20,893,000 after acquiring an additional 65,561 shares during the last quarter. Finally, Artisan Partners Limited Partnership increased its position in Madrigal Pharmaceuticals by 46.3% in the second quarter. Artisan Partners Limited Partnership now owns 201,571 shares of the biopharmaceutical company’s stock worth $61,003,000 after purchasing an additional 63,833 shares during the period. Institutional investors and hedge funds own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Trading Down 1.1%

MDGL opened at $435.01 on Thursday. The firm’s fifty day moving average is $514.64 and its two-hundred day moving average is $484.31. The firm has a market cap of $9.98 billion, a PE ratio of -33.80 and a beta of -1.01. Madrigal Pharmaceuticals, Inc. has a twelve month low of $265.00 and a twelve month high of $615.00. The company has a debt-to-equity ratio of 0.56, a quick ratio of 3.77 and a current ratio of 4.01.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings results on Thursday, February 19th. The biopharmaceutical company reported ($2.57) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($2.61). The firm had revenue of $321.08 million during the quarter, compared to analyst estimates of $310.36 million. Madrigal Pharmaceuticals had a negative net margin of 30.08% and a negative return on equity of 43.76%. Madrigal Pharmaceuticals’s quarterly revenue was up 210.8% on a year-over-year basis. During the same period last year, the firm earned ($2.71) EPS. Equities research analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current year.

Insider Transactions at Madrigal Pharmaceuticals

In related news, Director Rebecca Taub sold 18,650 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $552.15, for a total value of $10,297,597.50. Following the completion of the transaction, the director directly owned 461,044 shares in the company, valued at approximately $254,565,444.60. The trade was a 3.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Paul A. Friedman sold 24,800 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $552.18, for a total transaction of $13,694,064.00. Following the sale, the director owned 187,164 shares in the company, valued at $103,348,217.52. This trade represents a 11.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 99,537 shares of company stock valued at $53,485,702. Insiders own 21.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. The Goldman Sachs Group restated a “buy” rating and set a $571.00 target price on shares of Madrigal Pharmaceuticals in a research report on Wednesday, January 14th. Cantor Fitzgerald upgraded shares of Madrigal Pharmaceuticals from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 4th. Piper Sandler raised their price objective on shares of Madrigal Pharmaceuticals from $540.00 to $900.00 and gave the company an “overweight” rating in a research note on Friday, December 19th. Citigroup reaffirmed an “outperform” rating on shares of Madrigal Pharmaceuticals in a report on Tuesday, January 20th. Finally, Truist Financial increased their price target on Madrigal Pharmaceuticals from $580.00 to $640.00 and gave the company a “buy” rating in a research note on Wednesday, November 19th. One research analyst has 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. Based on data from MarketBeat.com, Madrigal Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $669.86.

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.