120,000 Shares in Madrigal Pharmaceuticals, Inc. $MDGL Purchased by Alkeon Capital Management LLC

Alkeon Capital Management LLC bought a new stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 120,000 shares of the biopharmaceutical company’s stock, valued at approximately $55,039,000. Alkeon Capital Management LLC owned about 0.53% of Madrigal Pharmaceuticals as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of MDGL. Bank of New York Mellon Corp increased its stake in shares of Madrigal Pharmaceuticals by 46.3% in the second quarter. Bank of New York Mellon Corp now owns 88,943 shares of the biopharmaceutical company’s stock worth $26,918,000 after acquiring an additional 28,154 shares during the period. Allworth Financial LP raised its holdings in shares of Madrigal Pharmaceuticals by 17,570.0% during the second quarter. Allworth Financial LP now owns 3,534 shares of the biopharmaceutical company’s stock worth $1,070,000 after purchasing an additional 3,514 shares during the last quarter. Rockefeller Capital Management L.P. lifted its position in Madrigal Pharmaceuticals by 1.6% during the second quarter. Rockefeller Capital Management L.P. now owns 17,895 shares of the biopharmaceutical company’s stock valued at $5,416,000 after purchasing an additional 286 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in Madrigal Pharmaceuticals by 59.0% during the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 3,131 shares of the biopharmaceutical company’s stock valued at $948,000 after purchasing an additional 1,162 shares during the period. Finally, Knott David M Jr purchased a new stake in Madrigal Pharmaceuticals in the second quarter valued at $605,000. Institutional investors and hedge funds own 98.50% of the company’s stock.

Insider Activity

In other Madrigal Pharmaceuticals news, insider Carole Huntsman sold 910 shares of the firm’s stock in a transaction that occurred 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 directly owned 9,122 shares of the company’s stock, valued at $4,504,261.16. This trade represents a 9.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Paul A. Friedman sold 24,520 shares of the business’s stock in a transaction that occurred on 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 transaction, the director owned 187,164 shares in the company, valued at approximately $97,772,601.96. This represents a 11.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 55,612 shares of company stock valued at $28,326,065 in the last ninety days. 21.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

MDGL has been the topic of several analyst reports. UBS Group set a $900.00 price target on Madrigal Pharmaceuticals in a research report on Friday, December 19th. Wolfe Research set a $579.00 target price on Madrigal Pharmaceuticals in a research note on Tuesday, January 6th. Oppenheimer raised their target price on Madrigal Pharmaceuticals from $600.00 to $650.00 and gave the stock an “outperform” rating in a report on Thursday, November 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a research report on Thursday, January 22nd. Finally, Bank of America decreased their price target on Madrigal Pharmaceuticals from $570.00 to $529.00 and set a “neutral” rating for the company in a report on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $685.31.

Madrigal Pharmaceuticals Stock Up 1.4%

NASDAQ MDGL opened at $444.83 on Friday. The business has a fifty day moving average price of $477.62 and a 200 day moving average price of $488.39. The company has a debt-to-equity ratio of 0.56, a quick ratio of 3.77 and a current ratio of 4.01. The company has a market cap of $10.20 billion, a P/E ratio of -34.56 and a beta of -0.97. Madrigal Pharmaceuticals, Inc. has a one year low of $265.00 and a one year high of $615.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced 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 business had revenue of $321.08 million for the quarter, compared to analyst estimates of $310.36 million. Madrigal Pharmaceuticals had a negative return on equity of 43.76% and a negative net margin of 30.08%.The company’s revenue for the quarter was up 210.8% compared to the same quarter last year. During the same period last year, the firm earned ($2.71) EPS. Research analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current fiscal year.

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.