Profund Advisors LLC Cuts Holdings in Madrigal Pharmaceuticals, Inc. $MDGL

Profund Advisors LLC lessened its stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 17.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 5,190 shares of the biopharmaceutical company’s stock after selling 1,063 shares during the quarter. Profund Advisors LLC’s holdings in Madrigal Pharmaceuticals were worth $1,571,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Mutual of America Capital Management LLC raised its holdings in Madrigal Pharmaceuticals by 0.3% in the first quarter. Mutual of America Capital Management LLC now owns 11,263 shares of the biopharmaceutical company’s stock valued at $3,731,000 after acquiring an additional 31 shares in the last quarter. Park Avenue Securities LLC increased its position in shares of Madrigal Pharmaceuticals by 6.6% in the 2nd quarter. Park Avenue Securities LLC now owns 699 shares of the biopharmaceutical company’s stock valued at $212,000 after purchasing an additional 43 shares during the last quarter. AlphaQuest LLC raised its holdings in shares of Madrigal Pharmaceuticals by 412.5% in the 2nd quarter. AlphaQuest LLC now owns 82 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 66 shares in the last quarter. VSM Wealth Advisory LLC purchased a new stake in shares of Madrigal Pharmaceuticals during the 1st quarter worth $25,000. Finally, Accent Capital Management LLC purchased a new stake in shares of Madrigal Pharmaceuticals during the 1st quarter worth $25,000. 98.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, Director Bros. Advisors Lp Baker purchased 68,618 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The stock was purchased at an average price of $364.04 per share, for a total transaction of $24,979,696.72. Following the purchase, the director directly owned 1,859,091 shares in the company, valued at approximately $676,783,487.64. This trade represents a 3.83% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William John Sibold sold 7,616 shares of Madrigal Pharmaceuticals stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $400.18, for a total transaction of $3,047,770.88. Following the completion of the transaction, the chief executive officer owned 109,753 shares in the company, valued at approximately $43,920,955.54. This represents a 6.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders bought 165,683 shares of company stock valued at $61,921,142 and sold 171,946 shares valued at $66,275,050. 21.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MDGL. Canaccord Genuity Group raised their price target on Madrigal Pharmaceuticals from $428.00 to $526.00 and gave the company a “buy” rating in a research note on Friday, September 12th. UBS Group reiterated a “buy” rating and issued a $523.00 price objective (up previously from $458.00) on shares of Madrigal Pharmaceuticals in a report on Tuesday, August 12th. Citizens Jmp boosted their target price on Madrigal Pharmaceuticals from $485.00 to $527.00 and gave the stock a “market outperform” rating in a research note on Wednesday, November 5th. HC Wainwright initiated coverage on shares of Madrigal Pharmaceuticals in a research note on Thursday, September 4th. They issued a “buy” rating and a $500.00 price target on the stock. Finally, Truist Financial began coverage on shares of Madrigal Pharmaceuticals in a report on Tuesday, October 14th. They set a “buy” rating and a $580.00 price objective on the stock. Thirteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $528.42.

Madrigal Pharmaceuticals Stock Up 1.4%

Madrigal Pharmaceuticals stock opened at $495.88 on Tuesday. The company has a market capitalization of $11.26 billion, a P/E ratio of -38.59 and a beta of -1.04. The company has a debt-to-equity ratio of 0.17, a quick ratio of 4.78 and a current ratio of 5.11. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $265.00 and a fifty-two week high of $505.05. The stock has a 50-day simple moving average of $438.30 and a 200-day simple moving average of $359.66.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings results on Tuesday, November 4th. The biopharmaceutical company reported ($5.08) EPS for the quarter, missing the consensus estimate of ($2.01) by ($3.07). Madrigal Pharmaceuticals had a negative return on equity of 38.38% and a negative net margin of 54.68%.The firm had revenue of $287.27 million for the quarter, compared to analyst estimates of $244.33 million. Equities research analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current year.

Madrigal Pharmaceuticals Company Profile

Madrigal Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development of therapeutics for the treatment of non-alcoholic steatohepatitis (NASH) in the United States. Its lead product candidate is resmetirom, a liver-directed thyroid hormone receptor beta agonist, which is in Phase 3 clinical trials for treating NASH.