Dimensional Fund Advisors LP Has $4.46 Million Stock Holdings in Madrigal Pharmaceuticals, Inc. $MDGL

Key Points

• Dimensional Fund Advisors cut its Madrigal Pharmaceuticals stake by 55.9% in the first quarter, selling 10,801 shares and retaining 8,520 shares valued at approximately $4.46 million. Institutional investors and hedge funds still own 98.5% of MDGL.
• Madrigal reported quarterly revenue of $364.25 million, up 71.2% year over year, and an adjusted loss of $1.99 per share that beat analyst expectations of a $2.68 loss.
• Analyst sentiment remains favorable, with 15 Buy ratings, two Holds and one Sell; the stock has a “Moderate Buy” consensus rating and an average price target of $689.93, versus a reported share price of $536.20.

Dimensional Fund Advisors LP trimmed its stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 55.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,520 shares of the biopharmaceutical company's stock after selling 10,801 shares during the quarter. Dimensional Fund Advisors LP's holdings in Madrigal Pharmaceuticals were worth $4,460,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Centaurus Financial Inc. raised its holdings in Madrigal Pharmaceuticals by 5.0% in the 3rd quarter. Centaurus Financial Inc. now owns 709 shares of the biopharmaceutical company's stock valued at $325,000 after acquiring an additional 34 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of Madrigal Pharmaceuticals by 34.6% during the fourth quarter. Farther Finance Advisors LLC now owns 140 shares of the biopharmaceutical company's stock worth $82,000 after acquiring an additional 36 shares during the period. Accent Capital Management LLC grew its position in shares of Madrigal Pharmaceuticals by 64.9% in the fourth quarter. Accent Capital Management LLC now owns 94 shares of the biopharmaceutical company's stock valued at $55,000 after purchasing an additional 37 shares during the last quarter. Swiss Life Asset Management Ltd grew its position in shares of Madrigal Pharmaceuticals by 6.8% in the fourth quarter. Swiss Life Asset Management Ltd now owns 690 shares of the biopharmaceutical company's stock valued at $402,000 after purchasing an additional 44 shares during the last quarter. Finally, HighTower Advisors LLC increased its stake in shares of Madrigal Pharmaceuticals by 4.1% during the fourth quarter. HighTower Advisors LLC now owns 1,173 shares of the biopharmaceutical company's stock worth $683,000 after purchasing an additional 46 shares during the period. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Richard S. Levy sold 5,682 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $515.44, for a total value of $2,928,730.08. Following the transaction, the director directly owned 22,015 shares of the company's stock, valued at $11,347,411.60. This trade represents a 20.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Soergel sold 1,042 shares of the business's stock in a transaction that occurred on 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 of the company's stock, valued at approximately $4,973,759.42. This represents a 9.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 7,568 shares of company stock valued at $3,880,711. 17.60% of the stock is currently owned by insiders.

Madrigal Pharmaceuticals Trading Up 0.2%

Shares of MDGL stock opened at $536.20 on Thursday. The stock has a market cap of $12.39 billion, a P/E ratio of -41.60 and a beta of -1.01. Madrigal Pharmaceuticals, Inc. has a 1 year low of $351.32 and a 1 year high of $615.00. The company has a current ratio of 3.20, a quick ratio of 2.94 and a debt-to-equity ratio of 0.65. The stock has a 50 day simple moving average of $518.60 and a 200 day simple moving average of $499.76.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported ($1.99) earnings per share for the quarter, beating the consensus estimate 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 in the previous year, the firm earned ($1.90) EPS. The company's quarterly revenue was up 71.2% compared to the same quarter last year. On average, research analysts predict that Madrigal Pharmaceuticals, Inc. will post -7.03 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on MDGL shares. Wells Fargo & Company started coverage on Madrigal Pharmaceuticals in a report on Monday, July 27th. They set an "overweight" rating and a $685.00 price target for the company. Piper Sandler reaffirmed an "overweight" rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, June 24th. Truist Financial increased their price objective on Madrigal Pharmaceuticals from $640.00 to $709.00 and gave the stock a "buy" rating in a research report on Wednesday, May 13th. Weiss Ratings reissued a "sell (d-)" rating on shares of Madrigal Pharmaceuticals in a research report on Friday, July 17th. Finally, Citigroup reissued an "outperform" rating on shares of Madrigal Pharmaceuticals in a research report on Friday, July 17th. Fifteen research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Madrigal Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus target price of $689.93.

About Madrigal Pharmaceuticals

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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