Groupama Asset Managment Boosts Stake in Madrigal Pharmaceuticals, Inc. $MDGL

Groupama Asset Managment lifted its position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 11.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,620 shares of the biopharmaceutical company’s stock after purchasing an additional 3,176 shares during the quarter. Groupama Asset Managment’s holdings in Madrigal Pharmaceuticals were worth $17,831,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Hsbc Holdings PLC acquired a new position in Madrigal Pharmaceuticals during the second quarter worth approximately $309,000. Qube Research & Technologies Ltd purchased a new stake in Madrigal Pharmaceuticals in the second quarter valued at approximately $1,163,000. Sei Investments Co. boosted its holdings in shares of Madrigal Pharmaceuticals by 73.6% in the second quarter. Sei Investments Co. now owns 17,542 shares of the biopharmaceutical company’s stock valued at $5,309,000 after acquiring an additional 7,438 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Madrigal Pharmaceuticals by 2.1% in the second quarter. The Manufacturers Life Insurance Company now owns 23,416 shares of the biopharmaceutical company’s stock valued at $7,087,000 after acquiring an additional 471 shares during the period. Finally, Bayesian Capital Management LP purchased a new position in shares of Madrigal Pharmaceuticals during the second quarter worth approximately $418,000. 98.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on MDGL shares. Truist Financial lifted their target price on shares of Madrigal Pharmaceuticals from $640.00 to $709.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Evercore set a $649.00 price target on shares of Madrigal Pharmaceuticals in a research note on Thursday, May 7th. Bank of America lowered their price objective on shares of Madrigal Pharmaceuticals from $550.00 to $542.00 and set a “neutral” rating on the stock in a research report on Thursday, June 11th. Citigroup restated a “market outperform” rating on shares of Madrigal Pharmaceuticals in a research note on Monday, June 1st. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $620.00 target price on shares of Madrigal Pharmaceuticals in a report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Madrigal Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $687.93.

Insiders Place Their Bets

In other Madrigal Pharmaceuticals news, insider David Soergel sold 1,042 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $495.74, for a total transaction of $516,561.08. Following the completion of the transaction, the insider owned 10,033 shares in the company, valued at approximately $4,973,759.42. This represents a 9.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Richard S. Levy sold 5,682 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $515.44, for a total transaction of $2,928,730.08. Following the completion of the sale, the director owned 22,015 shares of the company’s stock, valued at $11,347,411.60. This trade represents a 20.51% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 7,568 shares of company stock worth $3,880,711. 17.60% of the stock is currently owned by insiders.

Madrigal Pharmaceuticals Trading Up 1.2%

Shares of MDGL stock opened at $505.75 on Friday. The company has a market capitalization of $11.66 billion, a P/E ratio of -39.51 and a beta of -1.07. The company has a current ratio of 3.50, a quick ratio of 3.16 and a debt-to-equity ratio of 0.63. The business’s 50 day moving average is $509.89 and its two-hundred day moving average is $507.98. Madrigal Pharmaceuticals, Inc. has a twelve month low of $276.67 and a twelve month high of $615.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($3.25) EPS for the quarter, topping the consensus estimate of ($3.61) by $0.36. Madrigal Pharmaceuticals had a negative return on equity of 50.15% and a negative net margin of 27.32%.The business had revenue of $311.34 million during the quarter, compared to analysts’ expectations of $301.05 million. During the same quarter in the prior year, the business earned ($3.32) earnings per share. The company’s quarterly revenue was up 126.8% compared to the same quarter last year. Equities analysts forecast that Madrigal Pharmaceuticals, Inc. will post -7.3 EPS 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-? agonist in Phase 3 development for the treatment of NASH.