Madrigal Pharmaceuticals, Inc. $MDGL Holdings Lifted by Seven Fleet Capital Management LP

Seven Fleet Capital Management LP boosted its holdings in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 46.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,973 shares of the biopharmaceutical company’s stock after buying an additional 1,580 shares during the period. Seven Fleet Capital Management LP’s holdings in Madrigal Pharmaceuticals were worth $2,670,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. J. Goldman & Co LP purchased a new position in Madrigal Pharmaceuticals during the second quarter valued at approximately $2,722,000. Royal Bank of Canada lifted its position in Madrigal Pharmaceuticals by 22.5% in the 1st quarter. Royal Bank of Canada now owns 12,526 shares of the biopharmaceutical company’s stock worth $6,557,000 after buying an additional 2,303 shares in the last quarter. Jefferies Financial Group Inc. purchased a new stake in Madrigal Pharmaceuticals in the 4th quarter worth approximately $1,339,000. Penn Capital Management Company LLC acquired a new stake in shares of Madrigal Pharmaceuticals during the 4th quarter valued at $1,719,000. Finally, State of Wyoming acquired a new stake in shares of Madrigal Pharmaceuticals during the 2nd quarter valued at $1,294,000. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MDGL. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a research note on Friday, July 17th. Piper Sandler restated an “overweight” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, June 24th. HC Wainwright reaffirmed a “buy” rating on shares of Madrigal Pharmaceuticals in a research report on Friday, July 31st. Barclays cut their price target on Madrigal Pharmaceuticals from $964.00 to $962.00 and set an “overweight” rating for the company in a research note on Monday, August 3rd. Finally, Wells Fargo & Company began coverage on Madrigal Pharmaceuticals in a report on Monday, July 27th. They set an “overweight” rating and a $685.00 price target for the company. Fifteen research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Madrigal Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $699.64.

Madrigal Pharmaceuticals Stock Down 0.3%

MDGL stock opened at $541.08 on Friday. The company has a current ratio of 3.20, a quick ratio of 2.94 and a debt-to-equity ratio of 0.65. Madrigal Pharmaceuticals, Inc. has a 1 year low of $393.61 and a 1 year high of $615.00. The company has a fifty day simple moving average of $529.90 and a 200 day simple moving average of $505.01. The firm has a market cap of $12.50 billion, a PE ratio of -41.98 and a beta of -0.98.

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

Insider Buying and Selling at Madrigal Pharmaceuticals

In other news, General Counsel Shannon Kelley sold 664 shares of the company’s stock in a transaction dated 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 sale, the general counsel owned 11,474 shares in the company, valued at approximately $5,908,765.78. This represents a 5.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 17.60% of the stock is owned by corporate 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-? agonist in Phase 3 development for the treatment of NASH.