Seven Fleet Capital Management LP Makes New $2.67 Billion Investment in Madrigal Pharmaceuticals, Inc. $MDGL

Seven Fleet Capital Management LP bought a new stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,973 shares of the biopharmaceutical company’s stock, valued at approximately $2,670,252,000.

Several other institutional investors and hedge funds have also modified their holdings of MDGL. Janus Henderson Group PLC increased its position in Madrigal Pharmaceuticals by 27.4% during the first quarter. Janus Henderson Group PLC now owns 2,018,647 shares of the biopharmaceutical company’s stock worth $1,051,727,000 after acquiring an additional 433,804 shares during the period. Jupiter Topco LLC bought a new stake in Madrigal Pharmaceuticals in the 2nd quarter valued at about $1,039,650,000. Paulson & CO. Inc. bought a new stake in Madrigal Pharmaceuticals in the 2nd quarter valued at about $719,524,000. BlackRock Inc. acquired a new position in shares of Madrigal Pharmaceuticals during the 2nd quarter worth approximately $644,753,000. Finally, Wellington Management Group LLP grew its position in shares of Madrigal Pharmaceuticals by 14.1% during the 4th quarter. Wellington Management Group LLP now owns 461,402 shares of the biopharmaceutical company’s stock worth $268,693,000 after purchasing an additional 56,947 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MDGL. UBS Group reiterated a “buy” rating on shares of Madrigal Pharmaceuticals in a research report on Friday, July 31st. Truist Financial lifted their price objective on Madrigal Pharmaceuticals from $640.00 to $709.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Citigroup reiterated an “outperform” rating on shares of Madrigal Pharmaceuticals in a research report on Friday, July 17th. Canaccord Genuity Group increased their target price on Madrigal Pharmaceuticals from $578.00 to $587.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a research report on Friday, July 17th. Fifteen 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’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $699.64.

Insider Buying and Selling at Madrigal Pharmaceuticals

In related news, insider David Soergel sold 1,042 shares of the firm’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 sale, the insider owned 10,033 shares of the company’s stock, valued at $4,973,759.42. This trade represents a 9.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Shannon T. 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 value of $341,940.08. Following the completion of the transaction, the general counsel directly owned 11,474 shares of the company’s stock, valued at approximately $5,908,765.78. The trade was a 5.47% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 17.60% of the company’s stock.

Madrigal Pharmaceuticals Price Performance

Shares of NASDAQ:MDGL opened at $538.88 on Thursday. The company has a market cap of $12.45 billion, a price-to-earnings ratio of -41.81 and a beta of -1.01. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.20 and a quick ratio of 2.94. The firm has a 50 day simple moving average of $525.64 and a 200 day simple moving average of $502.07. Madrigal Pharmaceuticals, Inc. has a one year low of $393.61 and a one year 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 for the quarter, topping analysts’ consensus estimates of ($2.68) by $0.69. The firm had revenue of $364.25 million for 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%. The company’s revenue was up 71.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.90) earnings per share. Research analysts predict that Madrigal Pharmaceuticals, Inc. will post -7.03 earnings per share for the current fiscal year.

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.