Groupama Asset Managment Sells 13,447 Shares of Madrigal Pharmaceuticals, Inc. $MDGL

Groupama Asset Managment decreased its stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 32.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,444 shares of the biopharmaceutical company’s stock after selling 13,447 shares during the period. Groupama Asset Managment owned approximately 0.12% of Madrigal Pharmaceuticals worth $12,587,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Baker BROS. Advisors LP increased its stake in Madrigal Pharmaceuticals by 8.4% in the 3rd quarter. Baker BROS. Advisors LP now owns 2,141,701 shares of the biopharmaceutical company’s stock valued at $982,313,000 after buying an additional 165,683 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in shares of Madrigal Pharmaceuticals by 388.3% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 15,288 shares of the biopharmaceutical company’s stock worth $7,012,000 after buying an additional 12,157 shares during the last quarter. Voya Investment Management LLC boosted its stake in shares of Madrigal Pharmaceuticals by 16.3% during the 3rd quarter. Voya Investment Management LLC now owns 59,437 shares of the biopharmaceutical company’s stock worth $27,261,000 after buying an additional 8,347 shares during the last quarter. Calamos Advisors LLC bought a new position in shares of Madrigal Pharmaceuticals in the 3rd quarter valued at about $2,057,000. Finally, Marex Group plc acquired a new stake in shares of Madrigal Pharmaceuticals in the second quarter valued at about $548,000. Institutional investors own 98.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on MDGL shares. Truist Financial upped their price target on shares of Madrigal Pharmaceuticals from $580.00 to $640.00 and gave the stock a “buy” rating in a research report on Wednesday, November 19th. Citizens Jmp lifted their price target on Madrigal Pharmaceuticals from $527.00 to $745.00 and gave the stock a “market outperform” rating in a report on Tuesday, January 20th. Piper Sandler boosted their price objective on shares of Madrigal Pharmaceuticals from $540.00 to $900.00 and gave the company an “overweight” rating in a report on Friday, December 19th. Bank of America dropped their target price on shares of Madrigal Pharmaceuticals from $570.00 to $529.00 and set a “neutral” rating for the company in a research report on Friday, February 20th. Finally, Oppenheimer raised their price objective on Madrigal Pharmaceuticals from $600.00 to $650.00 and gave the company an “outperform” rating in a research note on Thursday, November 20th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $685.31.

Madrigal Pharmaceuticals Trading Down 0.3%

NASDAQ MDGL opened at $442.00 on Thursday. The business has a 50 day simple moving average of $469.99 and a 200 day simple moving average of $488.57. The stock has a market capitalization of $10.14 billion, a P/E ratio of -34.34 and a beta of -0.97. The company has a debt-to-equity ratio of 0.56, a current ratio of 4.01 and a quick ratio of 3.77. Madrigal Pharmaceuticals, Inc. has a one year low of $265.00 and a one year high of $615.00.

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). Madrigal Pharmaceuticals had a negative return on equity of 43.76% and a negative net margin of 30.08%.The firm had revenue of $321.08 million during the quarter, compared to the consensus estimate of $310.36 million. During the same quarter in the previous year, the company posted ($2.71) EPS. The firm’s revenue was up 210.8% on a year-over-year basis. Research analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current year.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, CFO Mardi Dier sold 1,982 shares of the stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $430.87, for a total transaction of $853,984.34. Following the completion of the transaction, the chief financial officer owned 12,490 shares in the company, valued at $5,381,566.30. This trade represents a 13.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Shannon T. Kelley sold 360 shares of the firm’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $431.94, for a total value of $155,498.40. Following the completion of the transaction, the general counsel directly owned 12,138 shares of the company’s stock, valued at $5,242,887.72. The trade was a 2.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 55,612 shares of company stock valued at $28,326,065 in the last ninety days. 21.50% of the stock is owned by corporate insiders.

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.