Geode Capital Management LLC Has $263.11 Million Position in Madrigal Pharmaceuticals, Inc. $MDGL

Geode Capital Management LLC raised its stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 1.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 451,743 shares of the biopharmaceutical company’s stock after buying an additional 5,510 shares during the quarter. Geode Capital Management LLC’s holdings in Madrigal Pharmaceuticals were worth $263,114,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of MDGL. Flagship Harbor Advisors LLC acquired a new position in shares of Madrigal Pharmaceuticals during the 4th quarter worth about $29,000. Aventura Private Wealth LLC acquired a new position in shares of Madrigal Pharmaceuticals during the 4th quarter worth about $36,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Madrigal Pharmaceuticals during the 3rd quarter worth about $39,000. Quarry LP acquired a new position in shares of Madrigal Pharmaceuticals during the 3rd quarter worth about $39,000. Finally, Eastern Bank grew its position in shares of Madrigal Pharmaceuticals by 32.3% during the 4th quarter. Eastern Bank now owns 86 shares of the biopharmaceutical company’s stock worth $50,000 after buying an additional 21 shares during the period. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Evercore set a $649.00 target price on Madrigal Pharmaceuticals in a research report on Thursday, May 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a research report on Tuesday, April 21st. Zacks Research upgraded Madrigal Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Friday, February 20th. Wells Fargo & Company upgraded Madrigal Pharmaceuticals to an “overweight” rating in a research report on Monday. Finally, Canaccord Genuity Group decreased their target price on Madrigal Pharmaceuticals from $587.00 to $578.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $687.00.

Madrigal Pharmaceuticals Price Performance

Shares of MDGL opened at $452.86 on Wednesday. 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 stock has a 50 day simple moving average of $514.40 and a 200 day simple moving average of $515.10. Madrigal Pharmaceuticals, Inc. has a 52-week low of $268.69 and a 52-week high of $615.00. The firm has a market capitalization of $10.44 billion, a PE ratio of -35.38 and a beta of -1.07.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported ($3.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.61) by $0.36. Madrigal Pharmaceuticals had a negative return on equity of 50.15% and a negative net margin of 27.32%.The business had revenue of $311.34 million during the quarter, compared to analyst estimates of $301.05 million. During the same period in the previous year, the firm earned ($3.32) EPS. Madrigal Pharmaceuticals’s quarterly revenue was up 126.8% compared to the same quarter last year. Sell-side analysts predict that Madrigal Pharmaceuticals, Inc. will post -7.23 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Rebecca Taub sold 491 shares of the business’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $431.94, for a total value of $212,082.54. Following the completion of the transaction, the director directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mardi Dier sold 1,982 shares of the business’s stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $430.87, for a total value of $853,984.34. Following the completion of the transaction, the chief financial officer owned 12,490 shares of the company’s stock, valued at $5,381,566.30. This represents a 13.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 12,483 shares of company stock worth $6,001,575 in the last three months. 17.60% of the stock is owned by corporate insiders.

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.