Madrigal Pharmaceuticals, Inc. $MDGL Stake Raised by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. boosted its holdings in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 6.6% in the fourth quarter, HoldingsChannel reports. The fund owned 19,661 shares of the biopharmaceutical company’s stock after buying an additional 1,210 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Madrigal Pharmaceuticals were worth $11,449,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. 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 worth $982,313,000 after purchasing an additional 165,683 shares in the last quarter. Iron Triangle Partners LP acquired a new stake in shares of Madrigal Pharmaceuticals in the 3rd quarter valued at $26,776,000. Toth Financial Advisory Corp bought a new stake in Madrigal Pharmaceuticals in the fourth quarter worth $1,165,000. Peak Financial Advisors LLC boosted its holdings in Madrigal Pharmaceuticals by 287.0% in the fourth quarter. Peak Financial Advisors LLC now owns 4,466 shares of the biopharmaceutical company’s stock worth $2,601,000 after purchasing an additional 3,312 shares in the last quarter. Finally, Capricorn Fund Managers Ltd acquired a new position in Madrigal Pharmaceuticals during the fourth quarter worth $3,843,000. Institutional investors and hedge funds own 98.50% of the company’s stock.

Insider Activity

In other Madrigal Pharmaceuticals news, insider David Soergel sold 1,042 shares of the firm’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 value of $516,561.08. Following the completion of the sale, the insider owned 10,033 shares in the company, valued at approximately $4,973,759.42. This trade represents a 9.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Richard S. Levy sold 5,682 shares of Madrigal Pharmaceuticals 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 directly owned 22,015 shares in the company, valued at $11,347,411.60. The trade was a 20.51% 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. Insiders have sold 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.

Madrigal Pharmaceuticals Stock Performance

NASDAQ:MDGL opened at $509.76 on Thursday. The firm’s 50-day moving average is $508.94 and its 200-day moving average is $506.03. Madrigal Pharmaceuticals, Inc. has a 52-week low of $277.64 and a 52-week high of $615.00. 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 company has a market cap of $11.76 billion, a price-to-earnings ratio of -39.82 and a beta of -1.07.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($3.25) earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $311.34 million during the quarter, compared to analysts’ expectations of $301.05 million. During the same quarter last year, the company earned ($3.32) earnings per share. The firm’s revenue was up 126.8% on a year-over-year basis. Equities research analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -7.3 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Piper Sandler restated an “overweight” rating on shares of Madrigal Pharmaceuticals in a report on Wednesday. Canaccord Genuity Group decreased their price target on Madrigal Pharmaceuticals from $587.00 to $578.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Truist Financial increased their price objective on Madrigal Pharmaceuticals from $640.00 to $709.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Citigroup reissued a “market outperform” rating on shares of Madrigal Pharmaceuticals in a research note on Monday, June 1st. Finally, HC Wainwright restated a “buy” rating and issued a $620.00 target price on shares of Madrigal Pharmaceuticals in a report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $687.93.

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.