Janus Henderson Group PLC Boosts Holdings in Madrigal Pharmaceuticals, Inc. $MDGL

Janus Henderson Group PLC raised its holdings in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 27.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,018,647 shares of the biopharmaceutical company’s stock after acquiring an additional 433,804 shares during the quarter. Janus Henderson Group PLC owned approximately 8.75% of Madrigal Pharmaceuticals worth $1,051,727,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Toth Financial Advisory Corp acquired a new stake in shares of Madrigal Pharmaceuticals during the fourth quarter valued at $1,165,000. Capricorn Fund Managers Ltd purchased a new position in Madrigal Pharmaceuticals in the 4th quarter valued at about $3,843,000. Jefferies Financial Group Inc. acquired a new stake in shares of Madrigal Pharmaceuticals during the 4th quarter worth about $1,339,000. Penn Capital Management Company LLC purchased a new stake in shares of Madrigal Pharmaceuticals during the fourth quarter worth about $1,719,000. Finally, Lord Abbett & CO. LLC raised its position in shares of Madrigal Pharmaceuticals by 139.7% in the fourth quarter. Lord Abbett & CO. LLC now owns 244,796 shares of the biopharmaceutical company’s stock valued at $142,555,000 after buying an additional 142,653 shares during the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

Insider Activity at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, Director Richard S. Levy sold 5,682 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $515.44, for a total transaction of $2,928,730.08. Following the transaction, 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 SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Soergel sold 1,042 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $495.74, for a total transaction of $516,561.08. Following the sale, the insider owned 10,033 shares of the company’s stock, valued at approximately $4,973,759.42. This represents a 9.41% decrease in their ownership of the stock. 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 sold 7,568 shares of company stock worth $3,880,711 in the last 90 days. 17.60% of the stock is currently owned by insiders.

Madrigal Pharmaceuticals Trading Up 1.5%

MDGL stock opened at $546.88 on Thursday. The company has a quick ratio of 3.16, a current ratio of 3.50 and a debt-to-equity ratio of 0.63. The company has a market cap of $12.61 billion, a price-to-earnings ratio of -42.72 and a beta of -1.05. The business has a fifty day simple moving average of $517.89 and a 200-day simple moving average of $499.42. Madrigal Pharmaceuticals, Inc. has a 52 week low of $286.44 and a 52 week high of $615.00.

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MDGL. Canaccord Genuity Group raised their target price on shares of Madrigal Pharmaceuticals from $578.00 to $587.00 and gave the stock a “buy” rating in a research report on Wednesday. Bank of America reduced their price target on Madrigal Pharmaceuticals from $550.00 to $542.00 and set a “neutral” rating on the stock in a research note on Thursday, June 11th. Piper Sandler reaffirmed an “overweight” rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, June 24th. Truist Financial increased their target price on Madrigal Pharmaceuticals from $640.00 to $709.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Finally, HC Wainwright restated a “buy” rating and issued a $620.00 price target on shares of Madrigal Pharmaceuticals in a report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.