Fox Run Management L.L.C. Takes $1.06 Million Position in Madrigal Pharmaceuticals, Inc. $MDGL

Fox Run Management L.L.C. acquired a new position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,318 shares of the biopharmaceutical company’s stock, valued at approximately $1,063,000.

Several other large investors have also recently bought and sold shares of MDGL. Adage Capital Partners GP L.L.C. boosted its holdings in Madrigal Pharmaceuticals by 96.3% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 376,163 shares of the biopharmaceutical company’s stock valued at $113,842,000 after purchasing an additional 184,554 shares during the period. Norges Bank bought a new stake in shares of Madrigal Pharmaceuticals in the second quarter valued at about $53,406,000. Invesco Ltd. grew its position in Madrigal Pharmaceuticals by 50.7% during the second quarter. Invesco Ltd. now owns 200,356 shares of the biopharmaceutical company’s stock worth $60,636,000 after buying an additional 67,422 shares in the last quarter. BNP Paribas Financial Markets increased its stake in Madrigal Pharmaceuticals by 1,886.1% during the second quarter. BNP Paribas Financial Markets now owns 69,037 shares of the biopharmaceutical company’s stock valued at $20,893,000 after acquiring an additional 65,561 shares during the period. Finally, Artisan Partners Limited Partnership increased its stake in Madrigal Pharmaceuticals by 46.3% during the second quarter. Artisan Partners Limited Partnership now owns 201,571 shares of the biopharmaceutical company’s stock valued at $61,003,000 after acquiring an additional 63,833 shares during the period. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Carole Huntsman sold 910 shares of Madrigal Pharmaceuticals stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $493.78, for a total value of $449,339.80. Following the completion of the transaction, the insider directly owned 9,122 shares of the company’s stock, valued at $4,504,261.16. The trade was a 9.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Rebecca Taub sold 647 shares of the company’s stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $492.42, for a total transaction of $318,595.74. Following the transaction, the director owned 452,704 shares in the company, valued at approximately $222,920,503.68. This trade represents a 0.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 99,537 shares of company stock worth $53,485,702. 21.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on MDGL shares. Citigroup reiterated an “outperform” rating on shares of Madrigal Pharmaceuticals in a research report on Tuesday, January 20th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $571.00 target price on shares of Madrigal Pharmaceuticals in a research report on Wednesday, January 14th. Citizens Jmp boosted their price target on shares of Madrigal Pharmaceuticals from $527.00 to $745.00 and gave the company a “market outperform” rating in a report on Tuesday, January 20th. Barclays began coverage on shares of Madrigal Pharmaceuticals in a research note on Tuesday, January 27th. They issued an “overweight” rating and a $964.00 price objective for the company. Finally, Wolfe Research set a $579.00 target price on shares of Madrigal Pharmaceuticals in a research report on Tuesday, January 6th. 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 issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $669.86.

Madrigal Pharmaceuticals Stock Down 1.1%

Shares of NASDAQ:MDGL opened at $435.01 on Thursday. The company’s fifty day moving average is $514.64 and its 200-day moving average is $484.31. The company has a debt-to-equity ratio of 0.56, a quick ratio of 3.77 and a current ratio of 4.01. Madrigal Pharmaceuticals, Inc. has a 52 week low of $265.00 and a 52 week high of $615.00. The company has a market capitalization of $9.98 billion, a PE ratio of -33.80 and a beta of -1.01.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings results on Thursday, February 19th. The biopharmaceutical company reported ($2.57) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($2.61). The firm had revenue of $321.08 million for the quarter, compared to the consensus estimate of $310.36 million. Madrigal Pharmaceuticals had a negative net margin of 30.08% and a negative return on equity of 43.76%. The company’s revenue for the quarter was up 210.8% on a year-over-year basis. During the same period in the prior year, the business earned ($2.71) earnings per share. Equities research analysts predict that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

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.