HighTower Advisors LLC cut its holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL – Free Report) by 13.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,063 shares of the biopharmaceutical company’s stock after selling 1,851 shares during the quarter. HighTower Advisors LLC’s holdings in Madrigal Pharmaceuticals were worth $6,477,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Hsbc Holdings PLC acquired a new stake in shares of Madrigal Pharmaceuticals during the 2nd quarter worth approximately $309,000. Qube Research & Technologies Ltd acquired a new position in shares of Madrigal Pharmaceuticals during the 2nd quarter valued at $1,163,000. Sei Investments Co. lifted its position in shares of Madrigal Pharmaceuticals by 73.6% during the 2nd quarter. Sei Investments Co. now owns 17,542 shares of the biopharmaceutical company’s stock valued at $5,309,000 after acquiring an additional 7,438 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Madrigal Pharmaceuticals by 2.1% during the second quarter. The Manufacturers Life Insurance Company now owns 23,416 shares of the biopharmaceutical company’s stock worth $7,087,000 after acquiring an additional 471 shares in the last quarter. Finally, Bayesian Capital Management LP bought a new position in Madrigal Pharmaceuticals during the second quarter worth $418,000. 98.50% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on MDGL shares. Citigroup restated an “outperform” rating on shares of Madrigal Pharmaceuticals in a report on Friday, July 17th. Barclays dropped their price objective on shares of Madrigal Pharmaceuticals from $964.00 to $962.00 and set an “overweight” rating on the stock in a report on Monday, August 3rd. HC Wainwright restated a “buy” rating on shares of Madrigal Pharmaceuticals in a research note on Friday, July 31st. UBS Group reaffirmed a “buy” rating on shares of Madrigal Pharmaceuticals in a research report on Friday, July 31st. Finally, Canaccord Genuity Group upped their price target on Madrigal Pharmaceuticals from $578.00 to $587.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Fifteen research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $699.64.
Madrigal Pharmaceuticals Stock Performance
NASDAQ MDGL opened at $533.12 on Friday. The company has a market cap of $12.32 billion, a P/E ratio of -41.36 and a beta of -0.98. The company has a fifty day simple moving average of $530.87 and a 200 day simple moving average of $507.44. The company has a current ratio of 3.20, a quick ratio of 2.94 and a debt-to-equity ratio of 0.65. Madrigal Pharmaceuticals, Inc. has a 12-month low of $393.61 and a 12-month high of $615.00.
Madrigal Pharmaceuticals (NASDAQ:MDGL – Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported ($1.99) earnings per share for the quarter, topping the consensus estimate of ($2.68) by $0.69. Madrigal Pharmaceuticals had a negative net margin of 25.32% and a negative return on equity of 56.65%. The firm had revenue of $364.25 million for the quarter, compared to the consensus estimate of $352.13 million. During the same quarter in the prior year, the company posted ($1.90) earnings per share. The business’s revenue was up 71.2% on a year-over-year basis. Sell-side analysts predict that Madrigal Pharmaceuticals, Inc. will post -7.03 earnings per share for the current fiscal year.
Insider Activity at Madrigal Pharmaceuticals
In related news, General Counsel Shannon Kelley sold 664 shares of the company’s 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 in the company, valued at $5,908,765.78. This represents a 5.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 17.60% of the stock is currently owned by insiders.
Madrigal Pharmaceuticals Company Profile
Madrigal Pharmaceuticals, Inc (NASDAQ: MDGL) is a biopharmaceutical company focused on developing and commercializing therapies for cardiometabolic diseases, particularly nonalcoholic steatohepatitis, now commonly referred to as metabolic dysfunction-associated steatohepatitis (MASH).
The company’s lead product is Rezdiffra (resmetirom), an oral, thyroid hormone receptor beta agonist designed to target underlying liver disease. In 2024, the U.S. Food and Drug Administration approved Rezdiffra for use with diet and exercise to treat adults with noncirrhotic MASH and moderate to advanced liver fibrosis.
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