Rheos Capital Works Inc. Lowers Holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Rheos Capital Works Inc. lowered its stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 23.1% in the first quarter, HoldingsChannel reports. The fund owned 43,215 shares of the biopharmaceutical company’s stock after selling 13,000 shares during the quarter. Rheos Capital Works Inc.’s holdings in Madrigal Pharmaceuticals were worth $14,314,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Newbridge Financial Services Group Inc. purchased a new position in Madrigal Pharmaceuticals during the fourth quarter worth approximately $1,297,000. Rhumbline Advisers increased its holdings in shares of Madrigal Pharmaceuticals by 1.0% during the 4th quarter. Rhumbline Advisers now owns 24,440 shares of the biopharmaceutical company’s stock worth $7,541,000 after buying an additional 243 shares during the last quarter. Sanctuary Advisors LLC raised its position in shares of Madrigal Pharmaceuticals by 5.2% in the 4th quarter. Sanctuary Advisors LLC now owns 1,247 shares of the biopharmaceutical company’s stock worth $422,000 after buying an additional 62 shares during the period. D.A. Davidson & CO. acquired a new position in Madrigal Pharmaceuticals in the fourth quarter valued at $221,000. Finally, Kornitzer Capital Management Inc. KS acquired a new position in Madrigal Pharmaceuticals in the fourth quarter valued at $4,554,000. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Madrigal Pharmaceuticals Price Performance

Shares of MDGL stock opened at $278.23 on Monday. The firm has a market cap of $6.18 billion, a P/E ratio of -11.09 and a beta of -1.08. The firm has a fifty day moving average of $300.10 and a two-hundred day moving average of $315.86. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.98 and a quick ratio of 5.93. Madrigal Pharmaceuticals, Inc. has a 1-year low of $200.63 and a 1-year high of $377.46.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings data on Thursday, May 1st. The biopharmaceutical company reported ($3.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.62) by $0.30. The firm had revenue of $137.25 million for the quarter, compared to analyst estimates of $112.79 million. During the same quarter in the previous year, the company earned ($7.38) EPS. As a group, research analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on MDGL. HC Wainwright increased their price objective on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Canaccord Genuity Group increased their price target on Madrigal Pharmaceuticals from $394.00 to $420.00 and gave the company a “buy” rating in a report on Friday, May 2nd. B. Riley reissued a “buy” rating and issued a $460.00 price objective (up from $422.00) on shares of Madrigal Pharmaceuticals in a research report on Friday, May 2nd. UBS Group boosted their price objective on Madrigal Pharmaceuticals from $441.00 to $458.00 and gave the stock a “buy” rating in a research note on Friday, May 2nd. Finally, Wall Street Zen raised Madrigal Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, May 5th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Madrigal Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $416.33.

About Madrigal Pharmaceuticals

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.