18,291 Shares in Madrigal Pharmaceuticals, Inc. $MDGL Bought by WCM Investment Management LLC

WCM Investment Management LLC acquired a new stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 18,291 shares of the biopharmaceutical company’s stock, valued at approximately $8,105,000. WCM Investment Management LLC owned approximately 0.08% of Madrigal Pharmaceuticals as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. AlphaQuest LLC lifted its holdings in shares of Madrigal Pharmaceuticals by 412.5% in the second quarter. AlphaQuest LLC now owns 82 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 66 shares during the last quarter. Mather Group LLC. acquired a new position in Madrigal Pharmaceuticals during the 3rd quarter worth approximately $33,000. Global Retirement Partners LLC increased its position in Madrigal Pharmaceuticals by 221.7% during the 3rd quarter. Global Retirement Partners LLC now owns 74 shares of the biopharmaceutical company’s stock worth $34,000 after purchasing an additional 51 shares in the last quarter. First Horizon Corp bought a new position in Madrigal Pharmaceuticals in the 3rd quarter valued at approximately $34,000. Finally, GAMMA Investing LLC lifted its stake in Madrigal Pharmaceuticals by 114.3% in the 3rd quarter. GAMMA Investing LLC now owns 90 shares of the biopharmaceutical company’s stock valued at $41,000 after purchasing an additional 48 shares during the last quarter. Institutional investors own 98.50% of the company’s stock.

Wall Street Analysts Forecast Growth

MDGL has been the topic of a number of research reports. Canaccord Genuity Group boosted their target price on shares of Madrigal Pharmaceuticals from $526.00 to $587.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Citizens Jmp raised their price objective on Madrigal Pharmaceuticals from $527.00 to $745.00 and gave the company a “market outperform” rating in a report on Tuesday, January 20th. HC Wainwright boosted their price objective on Madrigal Pharmaceuticals from $568.00 to $620.00 and gave the stock a “buy” rating in a research report on Friday, November 21st. Barclays assumed coverage on Madrigal Pharmaceuticals in a report on Tuesday, January 27th. They issued an “overweight” rating and a $964.00 target price for the company. Finally, Citigroup reissued an “outperform” rating on shares of Madrigal Pharmaceuticals in a research note on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $654.73.

Insider Activity

In related news, Director Rebecca Taub sold 647 shares of the firm’s stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $492.42, for a total transaction of $318,595.74. Following the completion of the sale, the director owned 452,704 shares of the company’s stock, valued at $222,920,503.68. This trade represents a 0.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO William John Sibold sold 1,577 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $492.42, for a total value of $776,546.34. Following the completion of the sale, the chief executive officer owned 148,497 shares of the company’s stock, valued at approximately $73,122,892.74. The trade was a 1.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 109,995 shares of company stock worth $58,996,851. 21.50% of the stock is owned by insiders.

Madrigal Pharmaceuticals Price Performance

Shares of MDGL opened at $482.45 on Wednesday. The business has a 50-day moving average of $549.44 and a 200-day moving average of $468.53. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.44 and a quick ratio of 3.26. The company has a market capitalization of $10.96 billion, a price-to-earnings ratio of -37.08, a price-to-earnings-growth ratio of 5.15 and a beta of -1.01. Madrigal Pharmaceuticals, Inc. has a 1 year low of $265.00 and a 1 year high of $615.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its earnings results on Tuesday, November 4th. The biopharmaceutical company reported ($5.08) earnings per share for the quarter, missing analysts’ consensus estimates 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%. As a group, equities research analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current year.

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.