Sanctuary Advisors LLC Takes $601,000 Position in Madrigal Pharmaceuticals, Inc. $MDGL

Sanctuary Advisors LLC purchased a new stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,120 shares of the biopharmaceutical company’s stock, valued at approximately $601,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Hsbc Holdings PLC bought a new position in Madrigal Pharmaceuticals during the second quarter worth about $309,000. Qube Research & Technologies Ltd purchased a new stake in shares of Madrigal Pharmaceuticals in the 2nd quarter valued at about $1,163,000. Sei Investments Co. grew its stake in Madrigal Pharmaceuticals by 73.6% in the 2nd quarter. Sei Investments Co. now owns 17,542 shares of the biopharmaceutical company’s stock worth $5,309,000 after buying an additional 7,438 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Madrigal Pharmaceuticals by 2.1% in the second quarter. The Manufacturers Life Insurance Company now owns 23,416 shares of the biopharmaceutical company’s stock worth $7,087,000 after acquiring an additional 471 shares in the last quarter. Finally, Bayesian Capital Management LP purchased a new position in shares of Madrigal Pharmaceuticals in the 2nd quarter worth about $418,000. 98.50% of the stock is owned by institutional investors.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other news, 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 transaction of $516,561.08. Following the transaction, the insider owned 10,033 shares in the company, valued at $4,973,759.42. This trade represents a 9.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Shannon T. Kelley sold 664 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $514.97, for a total value of $341,940.08. Following the sale, the general counsel directly owned 11,474 shares of the company’s stock, valued at $5,908,765.78. This represents a 5.47% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 17.60% of the company’s stock.

Madrigal Pharmaceuticals Stock Down 1.8%

Shares of Madrigal Pharmaceuticals stock opened at $533.76 on Friday. The company’s 50 day moving average is $526.96 and its 200 day moving average is $502.76. The company has a market cap of $12.33 billion, a price-to-earnings ratio of -41.41 and a beta of -1.01. The company has a quick ratio of 2.94, a current ratio of 3.20 and a debt-to-equity ratio of 0.65. Madrigal Pharmaceuticals, Inc. has a twelve month low of $393.61 and a twelve month high of $615.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported ($1.99) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.68) by $0.69. The firm had revenue of $364.25 million for the quarter, compared to the consensus estimate of $352.13 million. Madrigal Pharmaceuticals had a negative return on equity of 56.65% and a negative net margin of 25.32%.The company’s revenue for the quarter was up 71.2% on a year-over-year basis. During the same period last year, the business posted ($1.90) EPS. Research analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -7.03 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Citigroup reaffirmed an “outperform” rating on shares of Madrigal Pharmaceuticals in a research note on Friday, July 17th. UBS Group reissued a “buy” rating on shares of Madrigal Pharmaceuticals in a research note on Friday, July 31st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a research report on Friday, July 17th. Wolfe Research upgraded Madrigal Pharmaceuticals from a “peer perform” rating to an “outperform” rating and set a $605.00 price objective for the company in a report on Tuesday, August 4th. Finally, Bank of America decreased their target price on shares of Madrigal Pharmaceuticals from $550.00 to $542.00 and set a “neutral” rating for the company in a research note on Thursday, June 11th. Fifteen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Madrigal Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $699.64.

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.