Madrigal Pharmaceuticals, Inc. $MDGL Shares Bought by Quantinno Capital Management LP

Quantinno Capital Management LP grew its holdings in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 474.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,090 shares of the biopharmaceutical company’s stock after purchasing an additional 1,726 shares during the period. Quantinno Capital Management LP’s holdings in Madrigal Pharmaceuticals were worth $1,094,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Wellington Management Group LLP boosted its stake in shares of Madrigal Pharmaceuticals by 5,381.2% in the third quarter. Wellington Management Group LLP now owns 404,455 shares of the biopharmaceutical company’s stock valued at $185,507,000 after purchasing an additional 397,076 shares during the period. Norges Bank purchased a new stake in Madrigal Pharmaceuticals during the 4th quarter worth approximately $114,368,000. Deutsche Bank AG lifted its holdings in Madrigal Pharmaceuticals by 414.5% during the 4th quarter. Deutsche Bank AG now owns 192,109 shares of the biopharmaceutical company’s stock worth $111,873,000 after buying an additional 154,767 shares in the last quarter. Lord Abbett & CO. LLC lifted its holdings in Madrigal Pharmaceuticals by 139.7% during the 4th quarter. Lord Abbett & CO. LLC now owns 244,796 shares of the biopharmaceutical company’s stock worth $142,555,000 after buying an additional 142,653 shares in the last quarter. Finally, Alkeon Capital Management LLC lifted its holdings in Madrigal Pharmaceuticals by 100.0% during the 4th quarter. Alkeon Capital Management LLC now owns 240,000 shares of the biopharmaceutical company’s stock worth $139,762,000 after buying an additional 120,000 shares in the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Stock Up 0.0%

Shares of Madrigal Pharmaceuticals stock opened at $507.56 on Friday. The company has a quick ratio of 2.94, a current ratio of 3.20 and a debt-to-equity ratio of 0.65. Madrigal Pharmaceuticals, Inc. has a 52-week low of $351.32 and a 52-week high of $615.00. The company has a market capitalization of $11.72 billion, a P/E ratio of -39.38 and a beta of -1.01. The company has a 50 day moving average of $519.31 and a 200 day moving average of $500.00.

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

Insiders Place Their Bets

In other Madrigal Pharmaceuticals news, 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 value of $2,928,730.08. Following the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Soergel sold 1,042 shares of Madrigal Pharmaceuticals stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $495.74, for a total value of $516,561.08. Following the sale, the insider directly owned 10,033 shares of the company’s stock, valued at $4,973,759.42. This trade represents a 9.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 7,568 shares of company stock valued at $3,880,711. Insiders own 17.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on MDGL shares. Citigroup restated an “outperform” rating on shares of Madrigal Pharmaceuticals in a research note on Friday, July 17th. Wolfe Research upgraded Madrigal Pharmaceuticals from a “peer perform” rating to an “outperform” rating and set a $605.00 price objective on the stock in a research note on Tuesday, August 4th. UBS Group reiterated a “buy” rating on shares of Madrigal Pharmaceuticals in a report on Friday, July 31st. Wells Fargo & Company assumed coverage on Madrigal Pharmaceuticals in a research note on Monday, July 27th. They set an “overweight” rating and a $685.00 target price for the company. Finally, Evercore set a $649.00 price target on Madrigal Pharmaceuticals in a report on Thursday, May 7th. Fifteen equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price 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-β agonist in Phase 3 development for the treatment of NASH.