Sivik Global Healthcare LLC Acquires New Holdings in Madrigal Pharmaceuticals, Inc. $MDGL

Sivik Global Healthcare LLC acquired a new stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,000 shares of the biopharmaceutical company’s stock, valued at approximately $1,513,000.

Several other institutional investors also recently bought and sold shares of the business. Mutual of America Capital Management LLC increased its holdings in Madrigal Pharmaceuticals by 0.3% during 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 buying an additional 31 shares during the period. Park Avenue Securities LLC lifted its holdings in shares of Madrigal Pharmaceuticals by 6.6% during 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. First Horizon Advisors Inc. lifted its holdings in shares of Madrigal Pharmaceuticals by 38.9% during the 1st quarter. First Horizon Advisors Inc. now owns 157 shares of the biopharmaceutical company’s stock valued at $52,000 after purchasing an additional 44 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Madrigal Pharmaceuticals by 131.4% in the 1st quarter. GAMMA Investing LLC now owns 118 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 67 shares in the last quarter. Finally, Verity Asset Management Inc. boosted its position in shares of Madrigal Pharmaceuticals by 4.7% in the 1st quarter. Verity Asset Management Inc. now owns 1,560 shares of the biopharmaceutical company’s stock worth $517,000 after purchasing an additional 70 shares in the last quarter. 98.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on MDGL shares. JMP Securities raised their price objective on Madrigal Pharmaceuticals from $483.00 to $485.00 and gave the stock a “market outperform” rating in a research report on Wednesday, August 20th. Canaccord Genuity Group increased 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 target (up from $458.00) on shares of Madrigal Pharmaceuticals in a research note on Tuesday, August 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday. Finally, HC Wainwright started coverage on Madrigal Pharmaceuticals in a research note on Thursday, September 4th. They issued a “buy” rating and a $500.00 price target for the company. Nine equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Madrigal Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $525.88.

Insider Buying and Selling at Madrigal Pharmaceuticals

In related news, Director Paul A. Friedman sold 129,172 shares of the business’s stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $370.24, for a total transaction of $47,824,641.28. Following the completion of the transaction, the director directly owned 187,164 shares in the company, valued at $69,295,599.36. The trade was a 40.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William John Sibold sold 7,279 shares of the business’s stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $445.63, for a total transaction of $3,243,740.77. Following the transaction, the chief executive officer owned 102,474 shares of the company’s stock, valued at $45,665,488.62. This represents a 6.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 165,683 shares of company stock valued at $61,921,142 and sold 309,019 shares valued at $112,705,072. 21.50% of the stock is currently owned by corporate insiders.

Madrigal Pharmaceuticals Trading Up 0.3%

NASDAQ:MDGL opened at $429.60 on Friday. Madrigal Pharmaceuticals, Inc. has a 12 month low of $200.63 and a 12 month high of $463.63. The firm has a fifty day simple moving average of $414.50 and a 200-day simple moving average of $340.74. The company has a current ratio of 5.11, a quick ratio of 4.78 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $9.54 billion, a P/E ratio of -33.43 and a beta of -1.02.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported ($1.90) EPS for the quarter, topping the consensus estimate of ($3.48) by $1.58. Madrigal Pharmaceuticals had a negative net margin of 54.68% and a negative return on equity of 38.38%. The business had revenue of $212.80 million during the quarter, compared to the consensus estimate of $158.94 million. During the same period in the previous year, the firm posted ($7.10) earnings per share. The business’s revenue for the quarter was up 1357.5% compared to the same quarter last year. On average, equities research analysts anticipate 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.