Seven Fleet Capital Management LP Has $2.67 Million Stock Position in Madrigal Pharmaceuticals, Inc. $MDGL

Seven Fleet Capital Management LP increased its position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 46.6% in the 2nd quarter, according to the company in its most recent filing 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 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Janus Henderson Group PLC lifted its position in Madrigal Pharmaceuticals by 27.4% during the 1st 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 last quarter. Jupiter Topco LLC bought a new stake in Madrigal Pharmaceuticals during the second quarter valued at about $1,039,650,000. Paulson & CO. Inc. acquired a new stake in shares of Madrigal Pharmaceuticals in the second quarter valued at about $719,524,000. BlackRock Inc. acquired a new stake in shares of Madrigal Pharmaceuticals in the second quarter valued at about $644,753,000. Finally, Wellington Management Group LLP increased its stake in shares of Madrigal Pharmaceuticals by 18.8% in the second quarter. Wellington Management Group LLP now owns 825,714 shares of the biopharmaceutical company’s stock worth $443,367,000 after purchasing an additional 130,756 shares during the period. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Madrigal Pharmaceuticals

In related news, General Counsel Shannon Kelley sold 664 shares of the company’s stock in a transaction on 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 in the company, valued at approximately $5,908,765.78. This represents a 5.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 17.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Truist Financial boosted their price objective on Madrigal Pharmaceuticals from $640.00 to $709.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Wolfe Research raised Madrigal Pharmaceuticals from a “peer perform” rating to an “outperform” rating and set a $605.00 target price on the stock in a report on Tuesday, August 4th. Wells Fargo & Company began coverage on Madrigal Pharmaceuticals in a research report on Monday, July 27th. They issued an “overweight” rating and a $685.00 price target on the stock. Canaccord Genuity Group upped their price target on Madrigal Pharmaceuticals from $578.00 to $587.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Finally, Barclays reduced their price objective on Madrigal Pharmaceuticals from $964.00 to $962.00 and set an “overweight” rating for the company in a research report on Monday, August 3rd. Fifteen investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $699.64.

Madrigal Pharmaceuticals Stock Performance

NASDAQ:MDGL opened at $541.08 on Friday. The firm’s 50-day moving average is $529.90 and its 200-day moving average is $505.01. The company has a market cap of $12.50 billion, a price-to-earnings ratio of -41.98 and a beta of -0.98. The company has a debt-to-equity ratio of 0.65, a quick ratio of 2.94 and a current ratio of 3.20. Madrigal Pharmaceuticals, Inc. has a 52-week low of $393.61 and a 52-week high of $615.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released 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 business had revenue of $364.25 million for the quarter, compared to the consensus estimate of $352.13 million. Madrigal Pharmaceuticals had a negative return on equity of 56.65% and a negative net margin of 25.32%.The firm’s revenue for the quarter was up 71.2% compared to the same quarter last year. During the same period last year, the business earned ($1.90) earnings per share. Equities research analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -7.03 earnings per share for the current 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.