Madrigal Pharmaceuticals, Inc. $MDGL Holdings Raised by HighVista Strategies LLC

HighVista Strategies LLC lifted its stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 53.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,537 shares of the biopharmaceutical company’s stock after purchasing an additional 1,232 shares during the quarter. HighVista Strategies LLC’s holdings in Madrigal Pharmaceuticals were worth $1,622,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Rockefeller Capital Management L.P. boosted its stake in Madrigal Pharmaceuticals by 1.6% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 17,895 shares of the biopharmaceutical company’s stock worth $5,416,000 after purchasing an additional 286 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in shares of Madrigal Pharmaceuticals by 59.0% in the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 3,131 shares of the biopharmaceutical company’s stock valued at $948,000 after purchasing an additional 1,162 shares during the period. Knott David M Jr acquired a new position in shares of Madrigal Pharmaceuticals in the 2nd quarter valued at about $605,000. VSM Wealth Advisory LLC lifted its position in shares of Madrigal Pharmaceuticals by 273.3% in the second quarter. VSM Wealth Advisory LLC now owns 280 shares of the biopharmaceutical company’s stock worth $85,000 after purchasing an additional 205 shares in the last quarter. Finally, Artisan Partners Limited Partnership lifted its position in shares of Madrigal Pharmaceuticals by 46.3% in the second quarter. Artisan Partners Limited Partnership now owns 201,571 shares of the biopharmaceutical company’s stock worth $61,003,000 after purchasing an additional 63,833 shares in the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Stock Performance

MDGL opened at $444.83 on Monday. The company has a quick ratio of 3.77, a current ratio of 4.01 and a debt-to-equity ratio of 0.56. The stock’s 50 day moving average price is $477.62 and its two-hundred day moving average price is $488.83. The firm has a market capitalization of $10.20 billion, a P/E ratio of -34.56 and a beta of -0.97. Madrigal Pharmaceuticals, Inc. has a 12-month low of $265.00 and a 12-month high of $615.00.

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

Insider Buying and Selling

In other Madrigal Pharmaceuticals news, CEO William John Sibold sold 1,663 shares of the firm’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $431.94, for a total value of $718,316.22. Following the sale, the chief executive officer directly owned 161,829 shares in the company, valued at $69,900,418.26. This trade represents a 1.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Rebecca Taub sold 491 shares of the business’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $431.94, for a total transaction of $212,082.54. Following the transaction, the director owned 452,213 shares in the company, valued at approximately $195,328,883.22. The trade was a 0.11% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 55,612 shares of company stock worth $28,326,065. 21.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MDGL. Citizens Jmp upped their price objective on shares of Madrigal Pharmaceuticals from $527.00 to $745.00 and gave the company a “market outperform” rating in a research note on Tuesday, January 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a research note on Thursday, January 22nd. UBS Group set a $900.00 price objective on Madrigal Pharmaceuticals in a report on Friday, December 19th. Piper Sandler lifted their price objective on Madrigal Pharmaceuticals from $540.00 to $900.00 and gave the company an “overweight” rating in a research report on Friday, December 19th. Finally, Oppenheimer boosted their target price on Madrigal Pharmaceuticals from $600.00 to $650.00 and gave the company an “outperform” rating in a research note on Thursday, November 20th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Madrigal Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $685.31.

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.