Madrigal Pharmaceuticals, Inc. $MDGL Shares Bought by Rhenman & Partners Asset Management AB

Rhenman & Partners Asset Management AB lifted its stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 7.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,550 shares of the biopharmaceutical company’s stock after buying an additional 1,300 shares during the quarter. Rhenman & Partners Asset Management AB owned about 0.09% of Madrigal Pharmaceuticals worth $11,385,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Castleark Management LLC lifted its position in shares of Madrigal Pharmaceuticals by 45.7% during the 4th quarter. Castleark Management LLC now owns 14,466 shares of the biopharmaceutical company’s stock worth $8,424,000 after buying an additional 4,540 shares during the last quarter. Federation des caisses Desjardins du Quebec lifted its position in shares of Madrigal Pharmaceuticals by 14.9% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 1,246 shares of the biopharmaceutical company’s stock worth $726,000 after buying an additional 162 shares during the last quarter. HRT Financial LP purchased a new stake in shares of Madrigal Pharmaceuticals during the 4th quarter worth approximately $2,456,000. Brooklyn Investment Group purchased a new stake in shares of Madrigal Pharmaceuticals during the 4th quarter worth approximately $252,000. Finally, Orion Porfolio Solutions LLC lifted its position in shares of Madrigal Pharmaceuticals by 30.8% during the 4th quarter. Orion Porfolio Solutions LLC now owns 5,350 shares of the biopharmaceutical company’s stock worth $3,115,000 after buying an additional 1,259 shares during the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Stock Up 1.4%

MDGL stock opened at $480.77 on Friday. The company has a fifty day moving average price of $512.55 and a 200 day moving average price of $511.22. Madrigal Pharmaceuticals, Inc. has a 12 month low of $275.00 and a 12 month high of $615.00. The company has a market cap of $11.09 billion, a price-to-earnings ratio of -37.56 and a beta of -1.07. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.50 and a quick ratio of 3.16.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($3.25) EPS 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 firm had revenue of $311.34 million during the quarter, compared to the consensus estimate of $301.05 million. During the same quarter in the prior year, the firm earned ($3.32) EPS. Madrigal Pharmaceuticals’s revenue for the quarter was up 126.8% on a year-over-year basis. Sell-side analysts expect that Madrigal Pharmaceuticals, Inc. will post -7.23 earnings per share for the current year.

Analyst Upgrades and Downgrades

MDGL has been the subject of several recent analyst reports. HC Wainwright restated a “buy” rating and set a $620.00 price objective on shares of Madrigal Pharmaceuticals in a research report on Wednesday, May 6th. Evercore set a $649.00 price objective on shares of 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. Canaccord Genuity Group reduced their price target on shares of Madrigal Pharmaceuticals from $587.00 to $578.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Finally, Wells Fargo & Company upgraded shares of Madrigal Pharmaceuticals to an “overweight” rating in a research report on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Madrigal Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $687.93.

Insider Buying and Selling at Madrigal Pharmaceuticals

In related news, insider David Soergel sold 1,042 shares of the company’s stock in a transaction on Monday, June 1st. The shares were 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 $4,973,759.42. This represents a 9.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 the company’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $515.44, for a total transaction of $2,928,730.08. Following the completion of the sale, the director owned 22,015 shares of the company’s stock, valued at approximately $11,347,411.60. This trade represents 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. In the last quarter, insiders sold 7,568 shares of company stock valued at $3,880,711. 17.60% of the stock is owned by 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.