Madrigal Pharmaceuticals, Inc. $MDGL Shares Sold by D.A. Davidson & CO.

D.A. Davidson & CO. decreased its position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 28.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,553 shares of the biopharmaceutical company’s stock after selling 620 shares during the quarter. D.A. Davidson & CO.’s holdings in Madrigal Pharmaceuticals were worth $470,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Adage Capital Partners GP L.L.C. lifted its holdings in shares of Madrigal Pharmaceuticals by 860.0% during the first quarter. Adage Capital Partners GP L.L.C. now owns 191,609 shares of the biopharmaceutical company’s stock valued at $63,467,000 after purchasing an additional 171,649 shares during the last quarter. MPM Bioimpact LLC purchased a new stake in shares of Madrigal Pharmaceuticals during the first quarter valued at $33,260,000. Lord Abbett & CO. LLC lifted its holdings in shares of Madrigal Pharmaceuticals by 141.3% during the first quarter. Lord Abbett & CO. LLC now owns 118,024 shares of the biopharmaceutical company’s stock valued at $39,093,000 after purchasing an additional 69,107 shares during the last quarter. Federated Hermes Inc. purchased a new stake in shares of Madrigal Pharmaceuticals during the first quarter valued at $19,220,000. Finally, Paulson & CO. Inc. lifted its holdings in shares of Madrigal Pharmaceuticals by 2.8% during the first quarter. Paulson & CO. Inc. now owns 2,099,523 shares of the biopharmaceutical company’s stock valued at $695,425,000 after purchasing an additional 57,523 shares during the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Stock Down 1.8%

NASDAQ:MDGL opened at $421.60 on Thursday. The firm has a market capitalization of $9.36 billion, a price-to-earnings ratio of -32.81 and a beta of -1.02. Madrigal Pharmaceuticals, Inc. has a 1-year low of $213.71 and a 1-year high of $463.63. The company has a current ratio of 5.11, a quick ratio of 4.78 and a debt-to-equity ratio of 0.17. The business’s fifty day moving average price is $433.18 and its 200 day moving average price is $351.05.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($1.90) earnings per share for the quarter, beating the consensus estimate of ($3.48) by $1.58. The firm had revenue of $212.80 million for the quarter, compared to analyst estimates of $158.94 million. Madrigal Pharmaceuticals had a negative return on equity of 38.38% and a negative net margin of 54.68%.Madrigal Pharmaceuticals’s quarterly revenue was up 1357.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($7.10) earnings per share. On average, sell-side analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Madrigal Pharmaceuticals news, Director Paul A. Friedman sold 129,172 shares of the company’s stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $370.24, for a total value of $47,824,641.28. Following the transaction, the director directly owned 187,164 shares of the company’s stock, valued at $69,295,599.36. This represents a 40.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Bros. Advisors Lp Baker bought 68,618 shares of the company’s stock in a transaction on Monday, August 18th. The stock was purchased at an average cost of $364.04 per share, for a total transaction of $24,979,696.72. Following the completion of the transaction, the director owned 1,859,091 shares in the company, valued at approximately $676,783,487.64. The trade was a 3.83% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders acquired 165,683 shares of company stock worth $61,921,142 and sold 248,642 shares worth $91,388,103. 21.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

MDGL has been the subject of several analyst reports. TD Cowen upped their target price on Madrigal Pharmaceuticals from $390.00 to $554.00 and gave the company a “buy” rating in a report on Tuesday, August 26th. Canaccord Genuity Group upped their target price on Madrigal Pharmaceuticals from $428.00 to $526.00 and gave the company a “buy” rating in a report on Friday, September 12th. Piper Sandler upped their target price on Madrigal Pharmaceuticals from $400.00 to $540.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, October 8th. Finally, Truist Financial started coverage on Madrigal Pharmaceuticals in a research report on Tuesday, October 14th. They set a “buy” rating and a $580.00 price target on the stock. Eleven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $532.70.

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.