Barclays PLC Cuts Stock Holdings in Madrigal Pharmaceuticals, Inc. $MDGL

Barclays PLC lowered its position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 20.4% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 49,912 shares of the biopharmaceutical company’s stock after selling 12,762 shares during the quarter. Barclays PLC owned about 0.22% of Madrigal Pharmaceuticals worth $22,893,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in MDGL. William Blair Investment Management LLC boosted its stake in shares of Madrigal Pharmaceuticals by 17.6% in the third quarter. William Blair Investment Management LLC now owns 411,802 shares of the biopharmaceutical company’s stock valued at $188,877,000 after purchasing an additional 61,513 shares during the period. Adage Capital Partners GP L.L.C. boosted its holdings in Madrigal Pharmaceuticals by 96.3% in the second quarter. Adage Capital Partners GP L.L.C. now owns 376,163 shares of the biopharmaceutical company’s stock worth $113,842,000 after purchasing an additional 184,554 shares during the period. Bank of America Corp DE grew its position in shares of Madrigal Pharmaceuticals by 12.7% during the 2nd quarter. Bank of America Corp DE now owns 277,221 shares of the biopharmaceutical company’s stock valued at $83,898,000 after buying an additional 31,260 shares during the last quarter. Hood River Capital Management LLC grew its holdings in shares of Madrigal Pharmaceuticals by 0.3% during the second quarter. Hood River Capital Management LLC now owns 244,738 shares of the biopharmaceutical company’s stock valued at $74,068,000 after purchasing an additional 744 shares during the last quarter. Finally, Artisan Partners Limited Partnership increased its holdings in shares of Madrigal Pharmaceuticals by 2.3% in the 3rd quarter. Artisan Partners Limited Partnership now owns 206,254 shares of the biopharmaceutical company’s stock worth $94,600,000 after acquiring an additional 4,683 shares during the period. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Madrigal Pharmaceuticals Trading Down 0.3%

Shares of NASDAQ:MDGL opened at $431.53 on Thursday. The firm has a fifty day moving average of $483.48 and a two-hundred day moving average of $488.06. The company has a quick ratio of 3.77, a current ratio of 4.01 and a debt-to-equity ratio of 0.56. Madrigal Pharmaceuticals, Inc. has a 12-month low of $265.00 and a 12-month high of $615.00. The firm has a market capitalization of $9.90 billion, a P/E ratio of -33.53 and a beta of -0.97.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings results on Thursday, February 19th. The biopharmaceutical company reported ($2.57) 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 the consensus estimate of $310.36 million. Madrigal Pharmaceuticals had a negative net margin of 30.08% and a negative return on equity of 43.76%. The company’s quarterly revenue was up 210.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($2.71) EPS. On average, equities analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current fiscal year.

Insider Activity at Madrigal Pharmaceuticals

In related news, insider Carole Huntsman sold 910 shares of Madrigal Pharmaceuticals stock in a transaction on Monday, January 26th. The shares were sold at an average price of $493.78, for a total value of $449,339.80. Following the transaction, the insider owned 9,122 shares in the company, valued at $4,504,261.16. This trade represents a 9.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Paul A. Friedman sold 24,520 shares of Madrigal Pharmaceuticals stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $522.39, for a total value of $12,809,002.80. Following the completion of the transaction, the director owned 187,164 shares in the company, valued at $97,772,601.96. The trade was a 11.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 55,612 shares of company stock valued at $28,326,065. 21.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on MDGL shares. Truist Financial raised their target price on shares of Madrigal Pharmaceuticals from $580.00 to $640.00 and gave the company a “buy” rating in a research note on Wednesday, November 19th. Barclays initiated coverage on shares of Madrigal Pharmaceuticals in a research note on Tuesday, January 27th. They issued an “overweight” rating and a $964.00 price target for the company. UBS Group set a $900.00 price objective on shares of Madrigal Pharmaceuticals in a research note on Friday, December 19th. HC Wainwright boosted their target price on Madrigal Pharmaceuticals from $568.00 to $620.00 and gave the stock a “buy” rating in a report on Friday, November 21st. Finally, Piper Sandler upped their target price on Madrigal Pharmaceuticals from $540.00 to $900.00 and gave the stock an “overweight” rating in a research report on Friday, December 19th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $685.31.

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.