Seven Fleet Capital Management LP Purchases Shares of 1,860 Madrigal Pharmaceuticals, Inc. $MDGL

Seven Fleet Capital Management LP purchased a new stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGLFree Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The fund purchased 1,860 shares of the biopharmaceutical company’s stock, valued at approximately $1,083,000. Madrigal Pharmaceuticals makes up 0.8% of Seven Fleet Capital Management LP’s investment portfolio, making the stock its 22nd largest position.

Other institutional investors have also added to or reduced their stakes in the company. Flagship Harbor Advisors LLC bought a new position in shares of Madrigal Pharmaceuticals in the 4th quarter worth $29,000. Aventura Private Wealth LLC bought a new stake in Madrigal Pharmaceuticals in the fourth quarter valued at approximately $36,000. Aster Capital Management DIFC Ltd bought a new stake in Madrigal Pharmaceuticals during the 3rd quarter valued at $39,000. Kemnay Advisory Services Inc. bought a new position in shares of Madrigal Pharmaceuticals during the fourth quarter valued at about $39,000. Finally, Quarry LP purchased a new stake in Madrigal Pharmaceuticals in the 3rd quarter worth approximately $39,000. 98.50% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider David Soergel sold 1,042 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was 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 of the company’s stock, valued at approximately $4,973,759.42. This represents a 9.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Richard S. Levy sold 5,682 shares of Madrigal Pharmaceuticals stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $515.44, for a total value of $2,928,730.08. Following the sale, the director owned 22,015 shares of the company’s stock, valued at approximately $11,347,411.60. This trade represents a 20.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 7,568 shares of company stock worth $3,880,711 over the last 90 days. Corporate insiders own 17.60% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on MDGL shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a research report on Tuesday, April 21st. Bank of America reduced their price target on shares of Madrigal Pharmaceuticals from $550.00 to $542.00 and set a “neutral” rating on the stock in a research report on Thursday, June 11th. Zacks Research raised shares of Madrigal Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Friday, February 20th. Canaccord Genuity Group lowered their price objective on shares of Madrigal Pharmaceuticals from $587.00 to $578.00 and set a “buy” rating for the company in a report on Thursday, May 7th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Madrigal Pharmaceuticals in a research report on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Madrigal Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $687.93.

Get Our Latest Stock Report on Madrigal Pharmaceuticals

Madrigal Pharmaceuticals Stock Up 1.2%

MDGL stock opened at $505.75 on Friday. The business’s 50-day moving average is $509.89 and its two-hundred day moving average is $507.98. The company has a market cap of $11.66 billion, a price-to-earnings ratio of -39.51 and a beta of -1.07. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $276.67 and a fifty-two week high of $615.00. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.16 and a current ratio of 3.50.

Madrigal Pharmaceuticals (NASDAQ:MDGLGet Free Report) last issued its earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($3.25) earnings per share for the quarter, topping the consensus estimate of ($3.61) by $0.36. Madrigal Pharmaceuticals had a negative net margin of 27.32% and a negative return on equity of 50.15%. The company had revenue of $311.34 million during the quarter, compared to the consensus estimate of $301.05 million. During the same quarter in the prior year, the firm posted ($3.32) EPS. Madrigal Pharmaceuticals’s quarterly revenue was up 126.8% compared to the same quarter last year. As a group, analysts forecast that Madrigal Pharmaceuticals, Inc. will post -7.3 earnings per share 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.

Further Reading

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

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