Entropy Technologies LP Reduces Holdings in Madrigal Pharmaceuticals, Inc. $MDGL

Entropy Technologies LP reduced its stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 19.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,626 shares of the biopharmaceutical company’s stock after selling 1,316 shares during the period. Entropy Technologies LP’s holdings in Madrigal Pharmaceuticals were worth $2,945,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Toth Financial Advisory Corp acquired a new stake in shares of Madrigal Pharmaceuticals during the fourth quarter valued at $1,165,000. Capricorn Fund Managers Ltd acquired a new position in Madrigal Pharmaceuticals in the 4th quarter valued at about $3,843,000. Assenagon Asset Management S.A. acquired a new position in Madrigal Pharmaceuticals in the 4th quarter valued at about $3,139,000. Jefferies Financial Group Inc. purchased a new position in Madrigal Pharmaceuticals in the 4th quarter valued at about $1,339,000. Finally, Penn Capital Management Company LLC purchased a new position in Madrigal Pharmaceuticals in the 4th quarter valued at about $1,719,000. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. HC Wainwright reiterated a “buy” rating and set a $620.00 price target on shares of Madrigal Pharmaceuticals in a report on Wednesday, May 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a research note on Friday, July 17th. Canaccord Genuity Group decreased their target price on shares of Madrigal Pharmaceuticals from $587.00 to $578.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Bank of America lowered their target price on shares of Madrigal Pharmaceuticals from $550.00 to $542.00 and set a “neutral” rating for the company in a research note on Thursday, June 11th. Finally, Piper Sandler reiterated an “overweight” rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $687.93.

Madrigal Pharmaceuticals Trading Up 0.2%

Shares of MDGL stock opened at $544.51 on Friday. The firm has a market cap of $12.56 billion, a P/E ratio of -42.54 and a beta of -1.05. Madrigal Pharmaceuticals, Inc. has a 1-year low of $286.44 and a 1-year high of $615.00. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.50 and a quick ratio of 3.16. The firm’s 50-day simple moving average is $516.10 and its 200-day simple moving average is $500.31.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($3.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($3.61) by $0.36. Madrigal Pharmaceuticals had a negative net margin of 27.32% and a negative return on equity of 50.15%. The firm had revenue of $311.34 million during the quarter, compared to the consensus estimate of $301.05 million. During the same period in the previous year, the firm earned ($3.32) earnings per share. Madrigal Pharmaceuticals’s revenue was up 126.8% compared to the same quarter last year. As a group, equities analysts forecast that Madrigal Pharmaceuticals, Inc. will post -7.45 EPS for the current year.

Insiders Place Their Bets

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