2,600 Shares in Madrigal Pharmaceuticals, Inc. $MDGL Bought by Bamco Inc. NY

Bamco Inc. NY bought a new position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 2,600 shares of the biopharmaceutical company’s stock, valued at approximately $1,193,000.

Other hedge funds also recently bought and sold shares of the company. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in shares of Madrigal Pharmaceuticals by 388.3% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 15,288 shares of the biopharmaceutical company’s stock worth $7,012,000 after purchasing an additional 12,157 shares during the last quarter. Voya Investment Management LLC grew its holdings in Madrigal Pharmaceuticals by 16.3% in the 3rd quarter. Voya Investment Management LLC now owns 59,437 shares of the biopharmaceutical company’s stock valued at $27,261,000 after buying an additional 8,347 shares during the last quarter. Calamos Advisors LLC acquired a new stake in Madrigal Pharmaceuticals in the 3rd quarter valued at approximately $2,057,000. Marex Group plc bought a new position in Madrigal Pharmaceuticals in the 2nd quarter worth approximately $548,000. Finally, New York State Common Retirement Fund increased its position in Madrigal Pharmaceuticals by 13.4% in the 3rd quarter. New York State Common Retirement Fund now owns 69,273 shares of the biopharmaceutical company’s stock worth $31,773,000 after buying an additional 8,211 shares during the period. 98.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on MDGL. Oppenheimer increased their price objective on Madrigal Pharmaceuticals from $600.00 to $650.00 and gave the company an “outperform” rating in a research report on Thursday, November 20th. Bank of America dropped their target price on shares of Madrigal Pharmaceuticals from $570.00 to $529.00 and set a “neutral” rating on the stock in a research report on Friday, February 20th. Truist Financial increased their price target on shares of Madrigal Pharmaceuticals from $580.00 to $640.00 and gave the company a “buy” rating in a report on Wednesday, November 19th. Citigroup restated an “outperform” rating on shares of Madrigal Pharmaceuticals in a report on Tuesday, January 20th. Finally, Barclays initiated coverage on shares of Madrigal Pharmaceuticals in a research report on Tuesday, January 27th. They set an “overweight” rating and a $964.00 price objective for the company. One equities 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. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $685.31.

Madrigal Pharmaceuticals Trading Down 0.9%

Shares of Madrigal Pharmaceuticals stock opened at $440.83 on Tuesday. 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 $10.11 billion, a PE ratio of -34.25 and a beta of -0.97. The company has a debt-to-equity ratio of 0.56, a current ratio of 4.01 and a quick ratio of 3.77. The company’s fifty day moving average price is $474.67 and its two-hundred day moving average price is $488.86.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings data on Thursday, February 19th. The biopharmaceutical company reported ($2.57) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($2.61). Madrigal Pharmaceuticals had a negative return on equity of 43.76% and a negative net margin of 30.08%.The business had revenue of $321.08 million for the quarter, compared to the consensus estimate of $310.36 million. During the same period in the previous year, the business posted ($2.71) earnings per share. Madrigal Pharmaceuticals’s revenue was up 210.8% on a year-over-year basis. On average, analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current year.

Insider Buying and Selling at Madrigal Pharmaceuticals

In related news, CEO William John Sibold sold 1,663 shares of the business’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $431.94, for a total value of $718,316.22. Following the sale, the chief executive officer owned 161,829 shares of the company’s stock, valued at $69,900,418.26. The trade was a 1.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Rebecca Taub sold 18,410 shares of the company’s stock in a transaction on Friday, January 9th. The shares were sold at an average price of $522.40, for a total value of $9,617,384.00. Following the completion of the sale, the director owned 455,589 shares in the company, valued at $237,999,693.60. This trade represents a 3.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 55,612 shares of company stock worth $28,326,065 over the last three months. 21.50% of the stock is currently owned by insiders.

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.