Janus Henderson Group PLC Has $918.20 Million Stock Holdings in Madrigal Pharmaceuticals, Inc. $MDGL

Janus Henderson Group PLC cut its position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 14.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,584,843 shares of the biopharmaceutical company’s stock after selling 257,847 shares during the period. Janus Henderson Group PLC owned about 6.98% of Madrigal Pharmaceuticals worth $918,204,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Flagship Harbor Advisors LLC acquired a new stake in Madrigal Pharmaceuticals in the fourth quarter worth $29,000. Aventura Private Wealth LLC acquired a new stake in Madrigal Pharmaceuticals in the fourth quarter worth $36,000. Kemnay Advisory Services Inc. acquired a new stake in Madrigal Pharmaceuticals in the fourth quarter worth $39,000. Aster Capital Management DIFC Ltd acquired a new stake in Madrigal Pharmaceuticals in the third quarter worth $39,000. Finally, Eastern Bank raised its holdings in Madrigal Pharmaceuticals by 32.3% in the fourth quarter. Eastern Bank now owns 86 shares of the biopharmaceutical company’s stock worth $50,000 after purchasing an additional 21 shares during the period. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on MDGL shares. Bank of America dropped their price objective on shares of Madrigal Pharmaceuticals from $550.00 to $542.00 and set a “neutral” rating on the stock in a report on Thursday, June 11th. Evercore set a $649.00 price objective on shares of Madrigal Pharmaceuticals in a report on Thursday, May 7th. Canaccord Genuity Group dropped 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. Wells Fargo & Company upgraded shares of Madrigal Pharmaceuticals to an “overweight” rating in a report on Monday, June 1st. Finally, Citigroup restated a “market outperform” rating on shares of Madrigal Pharmaceuticals in a report on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Madrigal Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $687.93.

Madrigal Pharmaceuticals Stock Down 0.3%

Madrigal Pharmaceuticals stock opened at $499.86 on Thursday. The company has a market cap of $11.53 billion, a P/E ratio of -39.05 and a beta of -1.07. Madrigal Pharmaceuticals, Inc. has a 1-year low of $275.00 and a 1-year high of $615.00. The company has a fifty day simple moving average of $510.01 and a 200 day simple moving average of $508.62. The company has a current ratio of 3.50, a quick ratio of 3.16 and a debt-to-equity ratio of 0.63.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported ($3.25) EPS for the quarter, beating analysts’ consensus estimates of ($3.61) by $0.36. Madrigal Pharmaceuticals had a negative net margin of 27.32% and a negative return on equity of 50.15%. The company had revenue of $311.34 million during the quarter, compared to the consensus estimate of $301.05 million. During the same quarter last year, the firm posted ($3.32) EPS. The company’s quarterly revenue was up 126.8% on a year-over-year basis. Research analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -7.3 earnings per share for the current fiscal year.

Insider Transactions at Madrigal Pharmaceuticals

In other news, Director Richard S. Levy sold 5,682 shares of Madrigal Pharmaceuticals stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $515.44, for a total value of $2,928,730.08. Following the completion of the transaction, the director owned 22,015 shares of the company’s stock, valued at $11,347,411.60. This trade represents a 20.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Soergel sold 1,042 shares of Madrigal Pharmaceuticals stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $495.74, for a total transaction of $516,561.08. Following the completion of the transaction, the insider directly owned 10,033 shares of the company’s stock, valued at approximately $4,973,759.42. This trade represents 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. In the last three months, insiders sold 7,568 shares of company stock valued at $3,880,711. Insiders own 17.60% of the company’s stock.

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.