Deutsche Bank AG Makes New Investment in Madrigal Pharmaceuticals, Inc. $MDGL

Deutsche Bank AG acquired a new stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) in the second quarter, Holdings Channel reports. The fund acquired 83,916 shares of the biopharmaceutical company’s stock, valued at approximately $45,059,000.

Several other hedge funds have also bought and sold shares of MDGL. Persistent Asset Partners Ltd bought a new stake in shares of Madrigal Pharmaceuticals during the second quarter worth about $29,000. Global Retirement Partners LLC bought a new stake in shares of Madrigal Pharmaceuticals in the 2nd quarter worth $34,000. Kemnay Advisory Services Inc. bought a new position in shares of Madrigal Pharmaceuticals during the fourth quarter valued at about $39,000. Quarry LP purchased a new position in Madrigal Pharmaceuticals during the third quarter worth about $39,000. Finally, Johnson Financial Group Inc. bought a new stake in Madrigal Pharmaceuticals in the 3rd quarter worth about $50,000. Institutional investors and hedge funds own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Trading Down 0.5%

NASDAQ:MDGL opened at $516.74 on Friday. The firm has a market capitalization of $11.94 billion, a P/E ratio of -40.09 and a beta of -1.01. The company has a quick ratio of 2.94, a current ratio of 3.20 and a debt-to-equity ratio of 0.65. The company has a fifty day moving average of $524.40 and a 200 day moving average of $501.02. Madrigal Pharmaceuticals, Inc. has a 52 week low of $393.61 and a 52 week high of $615.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its earnings results on Thursday, July 30th. The biopharmaceutical company reported ($1.99) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.68) by $0.69. Madrigal Pharmaceuticals had a negative return on equity of 56.65% and a negative net margin of 25.32%.The company had revenue of $364.25 million for the quarter, compared to analysts’ expectations of $352.13 million. During the same period last year, the firm earned ($1.90) earnings per share. Madrigal Pharmaceuticals’s quarterly revenue was up 71.2% on a year-over-year basis. On average, research analysts predict that Madrigal Pharmaceuticals, Inc. will post -7.03 earnings per share for the current year.

Insider Activity at Madrigal Pharmaceuticals

In related news, General Counsel Shannon T. Kelley sold 664 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $514.97, for a total transaction of $341,940.08. Following the completion of the transaction, the general counsel owned 11,474 shares in the company, valued at $5,908,765.78. This represents a 5.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider David Soergel sold 1,042 shares of Madrigal Pharmaceuticals stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $495.74, for a total transaction of $516,561.08. Following the sale, the insider directly owned 10,033 shares in the company, valued at $4,973,759.42. The trade was a 9.41% 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. Company insiders own 17.60% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on MDGL shares. UBS Group reaffirmed a “buy” rating on shares of Madrigal Pharmaceuticals in a report on Friday, July 31st. HC Wainwright restated a “buy” rating on shares of Madrigal Pharmaceuticals in a research note on Friday, July 31st. Barclays lowered their target price on Madrigal Pharmaceuticals from $964.00 to $962.00 and set an “overweight” rating on the stock in a research note on Monday, August 3rd. Canaccord Genuity Group increased their target price on shares of Madrigal Pharmaceuticals from $578.00 to $587.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Finally, Wolfe Research raised Madrigal Pharmaceuticals from a “peer perform” rating to an “outperform” rating and set a $605.00 price objective for the company in a report on Tuesday, August 4th. Fifteen analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $689.93.

About Madrigal Pharmaceuticals

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.