Citizens Financial Group Inc. RI Acquires New Holdings in Madrigal Pharmaceuticals, Inc. $MDGL

Citizens Financial Group Inc. RI acquired a new stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) in the third quarter, Holdings Channel.com reports. The firm acquired 1,730 shares of the biopharmaceutical company’s stock, valued at approximately $872,000.

A number of other institutional investors and hedge funds have also made changes to their positions in MDGL. Jupiter Topco LLC acquired a new position in shares of Madrigal Pharmaceuticals during the 2nd quarter worth approximately $1,039,650,000. Paulson & CO. Inc. acquired a new stake in Madrigal Pharmaceuticals in the 2nd quarter valued at $719,524,000. BlackRock Inc. purchased a new stake in Madrigal Pharmaceuticals in the 2nd quarter worth $644,753,000. Janus Henderson Group PLC increased its holdings in Madrigal Pharmaceuticals by 27.4% in 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 in the last quarter. Finally, William Blair Investment Management LLC purchased a new stake in Madrigal Pharmaceuticals in the 2nd quarter worth $174,038,000. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Barclays reduced their price objective on shares of Madrigal Pharmaceuticals from $964.00 to $962.00 and set an “overweight” rating for the company in a research report on Monday, August 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a research report on Thursday, October 15th. Citigroup assumed coverage on Madrigal Pharmaceuticals in a research note on Wednesday, September 23rd. They set a “buy” rating and a $725.00 price objective for the company. The Goldman Sachs Group started coverage on shares of Madrigal Pharmaceuticals in a research report on Thursday, September 24th. They issued a “buy” rating and a $704.00 target price for the company. Finally, UBS Group reiterated a “buy” rating and set a $735.00 price objective on shares of Madrigal Pharmaceuticals in a research report on Wednesday, October 14th. Fifteen equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Madrigal Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $699.20.

Madrigal Pharmaceuticals Stock Performance

NASDAQ MDGL opened at $431.00 on Thursday. The company has a market cap of $9.96 billion, a P/E ratio of -33.44 and a beta of -1.04. The stock has a 50-day moving average of $502.60 and a two-hundred day moving average of $500.59. Madrigal Pharmaceuticals, Inc. has a 1-year low of $393.61 and a 1-year high of $615.00. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.20 and a quick ratio of 2.94.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings results 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. Madrigal Pharmaceuticals had a negative return on equity of 56.65% and a negative net margin of 25.32%. The company had revenue of $364.25 million during the quarter, compared to the consensus estimate of $352.13 million. During the same period in the previous year, the business earned ($1.90) EPS. Madrigal Pharmaceuticals’s revenue for the quarter was up 71.2% on a year-over-year basis. As a group, analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -7.03 EPS for the current year.

Insider Buying and Selling

In related news, CEO William Sibold sold 6,362 shares of the firm’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $535.59, for a total value of $3,407,423.58. Following the completion of the sale, the chief executive officer owned 202,967 shares in the company, valued at $108,707,095.53. This trade represents a 3.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Shannon Kelley sold 664 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were 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 $5,908,765.78. This represents a 5.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 12,247 shares of company stock valued at $6,581,182. Company insiders own 17.60% of the company’s stock.

Madrigal Pharmaceuticals Company Profile

Madrigal Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing medicines for nonalcoholic steatohepatitis, now known as metabolic dysfunction-associated steatohepatitis (MASH), and other chronic liver diseases. The company is headquartered in West Conshohocken, Pennsylvania.

Madrigal’s lead product is Rezdiffra (resmetirom), an orally administered thyroid hormone receptor beta agonist designed to target key drivers of liver disease, including hepatic fat accumulation and fibrosis.