Eversept Partners LP Buys Shares of 10,000 Madrigal Pharmaceuticals, Inc. $MDGL

Eversept Partners LP purchased a new stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 10,000 shares of the biopharmaceutical company’s stock, valued at approximately $5,235,000.

Several other large investors have also recently bought and sold shares of MDGL. Toth Financial Advisory Corp acquired a new stake in Madrigal Pharmaceuticals during the fourth quarter valued at $1,165,000. Capricorn Fund Managers Ltd purchased a new position in Madrigal Pharmaceuticals in the fourth quarter valued at about $3,843,000. Assenagon Asset Management S.A. purchased a new position in Madrigal Pharmaceuticals in the fourth quarter valued at about $3,139,000. Jefferies Financial Group Inc. acquired a new position in Madrigal Pharmaceuticals in the 4th quarter worth about $1,339,000. Finally, Penn Capital Management Company LLC acquired a new position in Madrigal Pharmaceuticals in the 4th quarter worth about $1,719,000. 98.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, Director Richard S. Levy sold 5,682 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $515.44, for a total transaction of $2,928,730.08. Following the completion of the transaction, the director directly owned 22,015 shares in the company, valued at $11,347,411.60. This represents a 20.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 Madrigal Pharmaceuticals stock in a transaction 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 transaction, the insider directly owned 10,033 shares of the company’s stock, valued at approximately $4,973,759.42. The trade was a 9.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 7,568 shares of company stock worth $3,880,711. Corporate insiders own 17.60% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on MDGL shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a research note on Friday, July 17th. Evercore set a $649.00 price objective on shares of Madrigal Pharmaceuticals in a research report on Thursday, May 7th. Citigroup reiterated an “outperform” rating on shares of Madrigal Pharmaceuticals in a research note on Friday, July 17th. HC Wainwright reissued a “buy” rating and issued a $620.00 target price on shares of Madrigal Pharmaceuticals in a research report on Wednesday, May 6th. Finally, Wells Fargo & Company began coverage on shares of Madrigal Pharmaceuticals in a research note on Monday. They set an “overweight” rating and a $685.00 price target on the stock. Two investment analysts have 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’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $687.73.

Madrigal Pharmaceuticals Stock Up 1.2%

Shares of MDGL stock opened at $551.25 on Tuesday. Madrigal Pharmaceuticals, Inc. has a 12 month low of $286.44 and a 12 month high of $615.00. The firm has a market cap of $12.71 billion, a PE ratio of -43.07 and a beta of -1.05. The stock has a 50 day moving average of $516.68 and a 200-day moving average of $499.64. The company has a quick ratio of 3.16, a current ratio of 3.50 and a debt-to-equity ratio of 0.63.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported ($3.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.61) by $0.36. The company had revenue of $311.34 million for the quarter, compared to the consensus estimate of $301.05 million. Madrigal Pharmaceuticals had a negative net margin of 27.32% and a negative return on equity of 50.15%. The business’s revenue was up 126.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($3.32) EPS. On average, equities analysts predict that Madrigal Pharmaceuticals, Inc. will post -7.45 EPS for the current year.

Madrigal Pharmaceuticals Profile

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.