Nan Fung Group Holdings Ltd bought a new position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL – Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 5,672 shares of the biopharmaceutical company’s stock, valued at approximately $3,045,580,000. Madrigal Pharmaceuticals accounts for 2.3% of Nan Fung Group Holdings Ltd’s investment portfolio, making the stock its 12th biggest holding.
A number of other institutional investors have also recently bought and sold shares of the business. Royal Bank of Canada raised its position in Madrigal Pharmaceuticals by 22.5% in the first quarter. Royal Bank of Canada now owns 12,526 shares of the biopharmaceutical company’s stock worth $6,557,000 after purchasing an additional 2,303 shares in the last quarter. Jefferies Financial Group Inc. bought a new position in Madrigal Pharmaceuticals during the fourth quarter worth about $1,339,000. Penn Capital Management Company LLC acquired a new stake in Madrigal Pharmaceuticals during the fourth quarter valued at approximately $1,719,000. State of Wyoming acquired a new stake in Madrigal Pharmaceuticals during the second quarter valued at approximately $1,294,000. Finally, BlackRock Inc. bought a new stake in shares of Madrigal Pharmaceuticals in the 2nd quarter valued at approximately $644,753,000. Institutional investors and hedge funds own 98.50% of the company’s stock.
Insiders Place Their Bets
In related news, insider David Soergel sold 1,042 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $495.74, for a total transaction of $516,561.08. Following the transaction, the insider owned 10,033 shares in the company, valued at $4,973,759.42. This represents a 9.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Shannon T. Kelley sold 664 shares of the stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $514.97, for a total transaction of $341,940.08. Following the sale, 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 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.
Wall Street Analysts Forecast Growth
Madrigal Pharmaceuticals Stock Down 0.9%
Shares of MDGL opened at $511.97 on Tuesday. The company has a market capitalization of $11.83 billion, a P/E ratio of -39.72 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. Madrigal Pharmaceuticals, Inc. has a one year low of $393.61 and a one year high of $615.00. The business’s 50 day simple moving average is $524.65 and its 200-day simple moving average is $501.30.
Madrigal Pharmaceuticals (NASDAQ:MDGL – Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported ($1.99) earnings per share for the quarter, beating 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 firm had revenue of $364.25 million during the quarter, compared to analysts’ expectations of $352.13 million. During the same period last year, the firm posted ($1.90) EPS. The business’s revenue was up 71.2% on a year-over-year basis. As a group, sell-side analysts predict that Madrigal Pharmaceuticals, Inc. will post -7.03 EPS for the current fiscal year.
Madrigal Pharmaceuticals Company 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.
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