Rafferty Asset Management LLC Decreases Stake in Madrigal Pharmaceuticals, Inc. $MDGL

Rafferty Asset Management LLC cut its stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 23.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,715 shares of the biopharmaceutical company’s stock after selling 5,818 shares during the period. Rafferty Asset Management LLC’s holdings in Madrigal Pharmaceuticals were worth $8,584,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of MDGL. Aster Capital Management DIFC Ltd acquired a new position in Madrigal Pharmaceuticals during the 3rd quarter valued at approximately $39,000. Artisan Partners Limited Partnership lifted its stake in shares of Madrigal Pharmaceuticals by 2.3% during the third quarter. Artisan Partners Limited Partnership now owns 206,254 shares of the biopharmaceutical company’s stock worth $94,600,000 after buying an additional 4,683 shares during the period. Xponance Inc. grew its holdings in shares of Madrigal Pharmaceuticals by 11.6% during the third quarter. Xponance Inc. now owns 1,460 shares of the biopharmaceutical company’s stock valued at $670,000 after buying an additional 152 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in shares of Madrigal Pharmaceuticals in the 3rd quarter valued at $1,063,000. Finally, Palumbo Wealth Management LLC acquired a new position in shares of Madrigal Pharmaceuticals in the 3rd quarter valued at $250,000. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Mardi Dier sold 4,173 shares of the stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $578.34, for a total transaction of $2,413,412.82. Following the sale, the chief financial officer directly owned 10,440 shares of the company’s stock, valued at $6,037,869.60. This represents a 28.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Carole Huntsman sold 910 shares of Madrigal Pharmaceuticals stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $493.78, for a total value of $449,339.80. Following the completion of the transaction, the insider owned 9,122 shares of the company’s stock, valued at approximately $4,504,261.16. This represents a 9.07% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 99,537 shares of company stock valued at $53,485,702. Insiders own 21.50% of the company’s stock.

Analyst Upgrades and Downgrades

MDGL has been the subject of a number of research reports. Zacks Research raised Madrigal Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Friday, February 20th. The Goldman Sachs Group restated a “buy” rating and issued a $571.00 price objective on shares of Madrigal Pharmaceuticals in a research note on Wednesday, January 14th. UBS Group set a $900.00 target price on Madrigal Pharmaceuticals in a research report on Friday, December 19th. TD Cowen reiterated a “buy” rating on shares of Madrigal Pharmaceuticals in a report on Monday, January 12th. Finally, Canaccord Genuity Group raised their price target on shares of Madrigal Pharmaceuticals from $526.00 to $587.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Madrigal Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $685.31.

Madrigal Pharmaceuticals Price Performance

Shares of NASDAQ MDGL opened at $432.00 on Monday. The company has a debt-to-equity ratio of 0.56, a current ratio of 4.01 and a quick ratio of 3.77. The stock has a market capitalization of $9.91 billion, a price-to-earnings ratio of -33.57 and a beta of -0.97. The firm’s 50 day simple moving average is $509.49 and its 200-day simple moving average is $486.29. 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 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 during the quarter, compared to analyst estimates of $310.36 million. Madrigal Pharmaceuticals had a negative net margin of 30.08% and a negative return on equity of 43.76%. The business’s revenue for the quarter was up 210.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($2.71) earnings per share. Analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current year.

Madrigal Pharmaceuticals Company 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.