Jefferies Financial Group Inc. Purchases Shares of 2,300 Madrigal Pharmaceuticals, Inc. $MDGL

Jefferies Financial Group Inc. purchased a new stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 2,300 shares of the biopharmaceutical company’s stock, valued at approximately $1,339,000.

Several other large investors also recently modified their holdings of the stock. Baker BROS. Advisors LP grew its stake in shares of 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 purchasing an additional 165,683 shares during the period. William Blair Investment Management LLC grew its stake in shares of Madrigal Pharmaceuticals by 17.6% in the 3rd quarter. William Blair Investment Management LLC now owns 411,802 shares of the biopharmaceutical company’s stock valued at $188,877,000 after purchasing an additional 61,513 shares during the period. Wellington Management Group LLP grew its stake in shares of Madrigal Pharmaceuticals by 5,381.2% in the 3rd quarter. Wellington Management Group LLP now owns 404,455 shares of the biopharmaceutical company’s stock valued at $185,507,000 after purchasing an additional 397,076 shares during the period. Invesco Ltd. grew its stake in shares of Madrigal Pharmaceuticals by 49.5% in the 3rd quarter. Invesco Ltd. now owns 299,565 shares of the biopharmaceutical company’s stock valued at $137,398,000 after purchasing an additional 99,209 shares during the period. Finally, Bank of America Corp DE grew its stake in shares of Madrigal Pharmaceuticals by 12.7% in the 2nd quarter. Bank of America Corp DE now owns 277,221 shares of the biopharmaceutical company’s stock valued at $83,898,000 after purchasing an additional 31,260 shares during the period. 98.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Madrigal Pharmaceuticals

In related news, insider Carole Huntsman sold 419 shares of the stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $431.94, for a total transaction of $180,982.86. Following the sale, the insider directly owned 12,692 shares in the company, valued at $5,482,182.48. This represents a 3.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard S. Levy sold 5,682 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $515.44, for a total value of $2,928,730.08. Following the sale, the director owned 22,015 shares in the company, valued at approximately $11,347,411.60. This trade represents a 20.51% 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 12,624 shares of company stock worth $5,990,403 over the last 90 days. Company insiders own 17.60% of the company’s stock.

Madrigal Pharmaceuticals Stock Down 2.2%

NASDAQ MDGL opened at $515.96 on Friday. The firm has a market cap of $11.90 billion, a PE ratio of -40.31 and a beta of -1.04. Madrigal Pharmaceuticals, Inc. has a one year low of $265.20 and a one year high of $615.00. The stock’s 50 day simple moving average is $512.75 and its 200 day simple moving average is $515.52. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.50 and a quick ratio of 3.16.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($3.25) EPS for the quarter, topping analysts’ consensus estimates of ($3.61) by $0.36. The business had revenue of $311.34 million for the quarter, compared to analyst estimates of $301.05 million. Madrigal Pharmaceuticals had a negative return on equity of 50.15% and a negative net margin of 27.32%.Madrigal Pharmaceuticals’s revenue for the quarter was up 126.8% on a year-over-year basis. During the same period in the prior year, the company earned ($3.32) EPS. As a group, sell-side analysts forecast that Madrigal Pharmaceuticals, Inc. will post -7.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

MDGL has been the topic of several analyst reports. Bank of America lowered their price objective on Madrigal Pharmaceuticals from $570.00 to $529.00 and set a “neutral” rating on the stock in a research note on Friday, February 20th. HC Wainwright reiterated a “buy” rating and issued a $620.00 price objective on shares of Madrigal Pharmaceuticals in a research note on Wednesday, May 6th. Zacks Research upgraded Madrigal Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Friday, February 20th. Truist Financial increased their price target 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, Evercore set a $649.00 price target on Madrigal Pharmaceuticals in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Madrigal Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $687.00.

Madrigal Pharmaceuticals Company 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.