EULAV Asset Management Sells 2,000 Shares of Madrigal Pharmaceuticals, Inc. $MDGL

EULAV Asset Management trimmed its holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 3.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,000 shares of the biopharmaceutical company’s stock after selling 2,000 shares during the period. EULAV Asset Management’s holdings in Madrigal Pharmaceuticals were worth $28,535,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of MDGL. Wellington Management Group LLP grew its stake in 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 buying an additional 397,076 shares in the last quarter. Norges Bank purchased a new position in Madrigal Pharmaceuticals in the 4th quarter valued at approximately $114,368,000. Baker BROS. Advisors LP raised its stake in shares of Madrigal Pharmaceuticals by 8.4% during 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. Alkeon Capital Management LLC bought a new stake in shares of Madrigal Pharmaceuticals during the 3rd quarter valued at $55,039,000. Finally, Invesco Ltd. raised its stake in shares of Madrigal Pharmaceuticals by 49.5% during 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. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on MDGL shares. Zacks Research upgraded Madrigal Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Friday, February 20th. Citigroup reiterated a “market outperform” rating on shares of Madrigal Pharmaceuticals in a research note on Monday. Evercore set a $649.00 price objective on Madrigal Pharmaceuticals in a research note on Thursday, May 7th. HC Wainwright reiterated a “buy” rating and set a $620.00 price objective on shares of Madrigal Pharmaceuticals in a research note on Wednesday, May 6th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $687.00.

Madrigal Pharmaceuticals Stock Performance

NASDAQ:MDGL opened at $486.98 on Friday. The firm has a market cap of $11.23 billion, a price-to-earnings ratio of -38.05 and a beta of -1.07. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.16 and a current ratio of 3.50. The business’s fifty day moving average is $516.90 and its 200 day moving average is $513.93. Madrigal Pharmaceuticals, Inc. has a 52-week low of $275.00 and a 52-week high of $615.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($3.25) earnings per share 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%.The company’s quarterly revenue was up 126.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($3.32) EPS. Research analysts predict that Madrigal Pharmaceuticals, Inc. will post -7.23 EPS for the current year.

Insider Transactions at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, Director Richard S. Levy sold 5,682 shares of the company’s stock in a transaction dated 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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $495.74, for a total value of $516,561.08. Following the completion of the transaction, the insider owned 10,033 shares in the company, valued at $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 a total of 7,568 shares of company stock worth $3,880,711 over the last 90 days. Corporate 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.