Federated Hermes Inc. Takes Position in Madrigal Pharmaceuticals, Inc. $MDGL

Federated Hermes Inc. bought a new position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,885 shares of the biopharmaceutical company’s stock, valued at approximately $1,782,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Madrigal Pharmaceuticals in the 2nd quarter worth approximately $210,000. KLP Kapitalforvaltning AS boosted its holdings in Madrigal Pharmaceuticals by 15.4% in the second quarter. KLP Kapitalforvaltning AS now owns 3,000 shares of the biopharmaceutical company’s stock valued at $908,000 after acquiring an additional 400 shares in the last quarter. Sivik Global Healthcare LLC purchased a new position in Madrigal Pharmaceuticals during the 2nd quarter valued at $1,513,000. TD Asset Management Inc raised its holdings in Madrigal Pharmaceuticals by 4.5% in the 2nd quarter. TD Asset Management Inc now owns 23,240 shares of the biopharmaceutical company’s stock worth $7,033,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Bayforest Capital Ltd purchased a new stake in shares of Madrigal Pharmaceuticals in the 2nd quarter worth about $638,000. Institutional investors own 98.50% of the company’s stock.

Insiders Place Their Bets

In other news, Director Rebecca Taub sold 647 shares of the business’s stock in a transaction on Monday, January 26th. The stock was sold at an average price of $492.42, for a total value of $318,595.74. Following the completion of the transaction, the director owned 452,704 shares in the company, valued at $222,920,503.68. The trade was a 0.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Paul A. Friedman sold 24,520 shares of the stock in a transaction on Friday, January 9th. The shares were sold at an average price of $522.39, for a total value of $12,809,002.80. Following the sale, the director directly owned 187,164 shares in the company, valued at $97,772,601.96. This trade represents a 11.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 109,995 shares of company stock worth $58,996,851. 21.50% of the stock is owned by corporate insiders.

Madrigal Pharmaceuticals Price Performance

Shares of NASDAQ:MDGL opened at $478.61 on Thursday. The business has a fifty day moving average price of $546.99 and a 200-day moving average price of $468.60. 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 $10.87 billion, a PE ratio of -36.79, a PEG ratio of 5.07 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 announced its quarterly earnings data on Tuesday, November 4th. The biopharmaceutical company reported ($5.08) EPS for the quarter, missing the consensus estimate 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 analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Canaccord Genuity Group increased their price target 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. Truist Financial raised their target price on Madrigal Pharmaceuticals from $580.00 to $640.00 and gave the company a “buy” rating in a research note on Wednesday, November 19th. Barclays assumed coverage on Madrigal Pharmaceuticals in a research report on Tuesday, January 27th. They set an “overweight” rating and a $964.00 price target on the stock. Bank of America upgraded Madrigal Pharmaceuticals from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $266.00 to $445.00 in a report on Monday, November 3rd. Finally, UBS Group set a $900.00 target price on shares of Madrigal Pharmaceuticals in a report on Friday, December 19th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Madrigal Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $654.73.

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.