Nan Fung Group Holdings Ltd Buys Shares of 5,672 Madrigal Pharmaceuticals, Inc. $MDGL

Nan Fung Group Holdings Ltd bought a new position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGLFree Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,672 shares of the biopharmaceutical company’s stock, valued at approximately $3,045,580. Madrigal Pharmaceuticals comprises 0.0% of Nan Fung Group Holdings Ltd’s holdings, making the stock its 12th biggest position.

A number of other hedge funds have also recently bought and sold shares of the company. Centaurus Financial Inc. raised its position in shares of Madrigal Pharmaceuticals by 5.0% during the third quarter. Centaurus Financial Inc. now owns 709 shares of the biopharmaceutical company’s stock worth $325,000 after purchasing an additional 34 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of Madrigal Pharmaceuticals by 34.6% in the 4th quarter. Farther Finance Advisors LLC now owns 140 shares of the biopharmaceutical company’s stock valued at $82,000 after purchasing an additional 36 shares during the last quarter. Accent Capital Management LLC raised its position in shares of Madrigal Pharmaceuticals by 64.9% in the 4th quarter. Accent Capital Management LLC now owns 94 shares of the biopharmaceutical company’s stock worth $55,000 after acquiring an additional 37 shares in the last quarter. Swiss Life Asset Management Ltd lifted its position in shares of Madrigal Pharmaceuticals by 6.8% during the 4th quarter. Swiss Life Asset Management Ltd now owns 690 shares of the biopharmaceutical company’s stock valued at $402,000 after buying an additional 44 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in Madrigal Pharmaceuticals by 35.4% in the 2nd quarter. GAMMA Investing LLC now owns 172 shares of the biopharmaceutical company’s stock valued at $92,000 after purchasing an additional 45 shares during the last quarter. 98.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. HC Wainwright reissued a “buy” rating on shares of Madrigal Pharmaceuticals in a research report on Friday, July 31st. Evercore set a $649.00 price objective on Madrigal Pharmaceuticals in a report on Thursday, May 7th. Barclays dropped their price target on Madrigal Pharmaceuticals from $964.00 to $962.00 and set an “overweight” rating for the company in a report on Monday, August 3rd. Piper Sandler reissued an “overweight” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, June 24th. Finally, Wells Fargo & Company assumed coverage on shares of Madrigal Pharmaceuticals in a research report on Monday, July 27th. They issued an “overweight” rating and a $685.00 price objective for the company. Fifteen research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $699.64.

Get Our Latest Stock Report on MDGL

Insider Buying and Selling at Madrigal Pharmaceuticals

In related news, insider David Soergel sold 1,042 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $495.74, for a total value of $516,561.08. Following the completion of the sale, the insider directly owned 10,033 shares of the company’s stock, valued at $4,973,759.42. The trade was a 9.41% decrease in their position. The sale was disclosed in a filing with the SEC, 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 Madrigal Pharmaceuticals stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $514.97, for a total value of $341,940.08. Following the sale, the general counsel owned 11,474 shares of the company’s stock, valued at approximately $5,908,765.78. This trade represents a 5.47% decrease in their position. The SEC filing for this sale provides additional information. 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.

Madrigal Pharmaceuticals Stock Performance

Shares of NASDAQ:MDGL traded down $7.81 during trading on Friday, reaching $535.88. The company had a trading volume of 166,838 shares, compared to its average volume of 347,212. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.20 and a quick ratio of 2.94. The stock’s fifty day moving average price is $526.40 and its 200 day moving average price is $502.54. The firm has a market capitalization of $12.38 billion, a price-to-earnings ratio of -41.57 and a beta of -1.01. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $393.61 and a fifty-two week high of $615.00.

Madrigal Pharmaceuticals (NASDAQ:MDGLGet Free Report) last posted its earnings results on Thursday, July 30th. The biopharmaceutical company reported ($1.99) EPS for the quarter, beating the consensus estimate of ($2.68) by $0.69. The company had revenue of $364.25 million during the quarter, compared to analyst estimates of $352.13 million. Madrigal Pharmaceuticals had a negative return on equity of 56.65% and a negative net margin of 25.32%.The business’s revenue was up 71.2% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.90) earnings per share. As a group, equities research analysts predict that Madrigal Pharmaceuticals, Inc. will post -7.03 EPS for the current year.

About Madrigal Pharmaceuticals

(Free Report)

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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Institutional Ownership by Quarter for Madrigal Pharmaceuticals (NASDAQ:MDGL)

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