Emerald Mutual Fund Advisers Trust Reduces Stock Holdings in Madrigal Pharmaceuticals, Inc. $MDGL

Emerald Mutual Fund Advisers Trust lessened its position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 5.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 35,091 shares of the biopharmaceutical company’s stock after selling 1,829 shares during the quarter. Emerald Mutual Fund Advisers Trust owned approximately 0.16% of Madrigal Pharmaceuticals worth $16,095,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Adage Capital Partners GP L.L.C. increased its holdings in Madrigal Pharmaceuticals by 96.3% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 376,163 shares of the biopharmaceutical company’s stock valued at $113,842,000 after acquiring an additional 184,554 shares in the last quarter. Bank of America Corp DE grew its position in shares of Madrigal Pharmaceuticals by 12.7% in the second quarter. Bank of America Corp DE now owns 277,221 shares of the biopharmaceutical company’s stock valued at $83,898,000 after purchasing an additional 31,260 shares during the last quarter. Hood River Capital Management LLC increased its stake in shares of Madrigal Pharmaceuticals by 0.3% during the 2nd quarter. Hood River Capital Management LLC now owns 244,738 shares of the biopharmaceutical company’s stock worth $74,068,000 after purchasing an additional 744 shares in the last quarter. Artisan Partners Limited Partnership raised its position in shares of Madrigal Pharmaceuticals by 46.3% during the 2nd quarter. Artisan Partners Limited Partnership now owns 201,571 shares of the biopharmaceutical company’s stock worth $61,003,000 after purchasing an additional 63,833 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of Madrigal Pharmaceuticals by 50.7% during the 2nd quarter. Invesco Ltd. now owns 200,356 shares of the biopharmaceutical company’s stock worth $60,636,000 after purchasing an additional 67,422 shares during the last quarter. 98.50% of the stock is owned by institutional investors and hedge funds.

Madrigal Pharmaceuticals Stock Performance

Madrigal Pharmaceuticals stock opened at $498.04 on Friday. The stock has a fifty day moving average price of $560.13 and a 200 day moving average price of $456.75. Madrigal Pharmaceuticals, Inc. has a 52 week low of $265.00 and a 52 week high of $615.00. The firm has a market capitalization of $11.31 billion, a P/E ratio of -38.28, a PEG ratio of 4.82 and a beta of -1.00. The company has a current ratio of 3.44, a quick ratio of 3.26 and a debt-to-equity ratio of 0.54.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings results on Tuesday, November 4th. The biopharmaceutical company reported ($5.08) EPS for the quarter, missing the consensus estimate of ($2.01) by ($3.07). Madrigal Pharmaceuticals had a negative net margin of 39.04% and a negative return on equity of 41.50%. Equities research analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Bank of America upgraded Madrigal Pharmaceuticals from an “underperform” rating to a “neutral” rating and increased their target price for the company from $266.00 to $445.00 in a report on Monday, November 3rd. Cantor Fitzgerald raised Madrigal Pharmaceuticals from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 4th. Truist Financial lifted their price objective on Madrigal Pharmaceuticals from $580.00 to $640.00 and gave the stock a “buy” rating in a research report on Wednesday, November 19th. JMP Securities set a $527.00 target price on shares of Madrigal Pharmaceuticals in a report on Wednesday, November 5th. Finally, B. Riley lifted their price target on shares of Madrigal Pharmaceuticals from $560.00 to $670.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $632.64.

Insider Transactions at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, Director Paul A. Friedman sold 24,520 shares of Madrigal Pharmaceuticals stock in a transaction on Friday, January 9th. The shares were sold at an average price of $522.39, for a total value of $12,809,002.80. Following the transaction, the director owned 187,164 shares in the company, valued at $97,772,601.96. This trade represents a 11.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Shannon T. Kelley sold 692 shares of the business’s stock in a transaction on Tuesday, January 20th. The shares were sold at an average price of $497.36, for a total transaction of $344,173.12. Following the sale, the general counsel directly owned 8,481 shares of the company’s stock, valued at $4,218,110.16. This represents a 7.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 123,436 shares of company stock valued at $65,479,642 in the last quarter. Insiders own 21.50% of the company’s stock.

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.