Calamos Advisors LLC Boosts Holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Calamos Advisors LLC increased its stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 13.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,112 shares of the biopharmaceutical company’s stock after buying an additional 499 shares during the period. Calamos Advisors LLC’s holdings in Madrigal Pharmaceuticals were worth $1,152,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in MDGL. First Horizon Advisors Inc. boosted its position in Madrigal Pharmaceuticals by 1,633.3% during the second quarter. First Horizon Advisors Inc. now owns 104 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 98 shares during the period. Envestnet Portfolio Solutions Inc. bought a new position in Madrigal Pharmaceuticals during the second quarter worth about $252,000. Cetera Advisors LLC bought a new position in Madrigal Pharmaceuticals during the first quarter worth about $281,000. Artal Group S.A. bought a new position in Madrigal Pharmaceuticals during the first quarter worth about $29,510,000. Finally, Rokos Capital Management LLP bought a new position in Madrigal Pharmaceuticals during the first quarter worth about $10,064,000. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Insider Buying and Selling

In related news, VP Robert E. Waltermire sold 1,900 shares of Madrigal Pharmaceuticals stock in a transaction on Friday, June 14th. The shares were sold at an average price of $280.00, for a total value of $532,000.00. Following the transaction, the vice president now directly owns 5,500 shares of the company’s stock, valued at $1,540,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, VP Robert E. Waltermire sold 1,900 shares of Madrigal Pharmaceuticals stock in a transaction on Friday, June 14th. The shares were sold at an average price of $280.00, for a total value of $532,000.00. Following the sale, the vice president now owns 5,500 shares in the company, valued at $1,540,000. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Robert E. Waltermire sold 2,000 shares of Madrigal Pharmaceuticals stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $285.00, for a total transaction of $570,000.00. Following the completion of the sale, the vice president now owns 5,500 shares in the company, valued at approximately $1,567,500. The disclosure for this sale can be found here. 23.92% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on MDGL shares. Wolfe Research started coverage on shares of Madrigal Pharmaceuticals in a research report on Tuesday, June 11th. They set an “outperform” rating and a $382.00 target price for the company. Citigroup cut their target price on shares of Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Cantor Fitzgerald restated a “neutral” rating on shares of Madrigal Pharmaceuticals in a research report on Tuesday, July 23rd. B. Riley cut their price objective on shares of Madrigal Pharmaceuticals from $270.00 to $200.00 and set a “neutral” rating for the company in a research report on Friday, May 10th. Finally, StockNews.com upgraded shares of Madrigal Pharmaceuticals to a “sell” rating in a research report on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Madrigal Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $343.83.

Madrigal Pharmaceuticals Trading Up 1.6 %

Shares of Madrigal Pharmaceuticals stock opened at $252.74 on Monday. The firm has a market cap of $5.39 billion, a PE ratio of -10.95 and a beta of -0.42. Madrigal Pharmaceuticals, Inc. has a 1 year low of $119.76 and a 1 year high of $299.98. The company has a 50 day simple moving average of $270.66 and a two-hundred day simple moving average of $248.38. The company has a debt-to-equity ratio of 0.14, a current ratio of 8.72 and a quick ratio of 8.67.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($7.10) EPS for the quarter, topping the consensus estimate of ($7.55) by $0.45. The firm had revenue of $14.64 million during the quarter, compared to analysts’ expectations of $4.25 million. During the same period in the previous year, the firm earned ($4.69) earnings per share. The firm’s quarterly revenue was up 146280.0% compared to the same quarter last year. Analysts expect that Madrigal Pharmaceuticals, Inc. will post -27.67 earnings per share for the current fiscal year.

Madrigal Pharmaceuticals Profile

Madrigal Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development of therapeutics for the treatment of non-alcoholic steatohepatitis (NASH) in the United States. Its lead product candidate is resmetirom, a liver-directed thyroid hormone receptor beta agonist, which is in Phase 3 clinical trials for treating NASH.