Groupama Asset Managment Boosts Stake in Madrigal Pharmaceuticals, Inc. $MDGL

Key Points

• Groupama Asset Managment increased its stake in Madrigal Pharmaceuticals by 11.6% in the fourth quarter, ending with 30,620 shares valued at about $17.8 million.
• Madrigal reported better-than-expected quarterly results, posting a smaller-than-expected loss per share and revenue of $311.34 million, with revenue rising 126.8% year over year.
• Analysts remain mostly bullish on MDGL, with an average rating of “Moderate Buy” and an average price target of $687.93, even as some recent insider sales were disclosed.

Groupama Asset Managment boosted its stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 11.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 30,620 shares of the biopharmaceutical company's stock after purchasing an additional 3,176 shares during the period. Groupama Asset Managment owned about 0.13% of Madrigal Pharmaceuticals worth $17,831,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Baker BROS. Advisors LP increased its holdings in Madrigal Pharmaceuticals by 8.4% during the 3rd quarter. Baker BROS. Advisors LP now owns 2,141,701 shares of the biopharmaceutical company's stock worth $982,313,000 after purchasing an additional 165,683 shares during the period. Iron Triangle Partners LP purchased a new position in shares of Madrigal Pharmaceuticals in the 3rd quarter valued at about $26,776,000. Toth Financial Advisory Corp purchased a new position in shares of Madrigal Pharmaceuticals in the 4th quarter valued at about $1,165,000. Peak Financial Advisors LLC boosted its stake in shares of Madrigal Pharmaceuticals by 287.0% in the 4th quarter. Peak Financial Advisors LLC now owns 4,466 shares of the biopharmaceutical company's stock valued at $2,601,000 after buying an additional 3,312 shares during the period. Finally, Capricorn Fund Managers Ltd acquired a new position in shares of Madrigal Pharmaceuticals during the fourth quarter worth about $3,843,000. Hedge funds and other institutional investors own 98.50% of the company's stock.

Madrigal Pharmaceuticals Trading Up 1.2%

MDGL opened at $505.75 on Friday. Madrigal Pharmaceuticals, Inc. has a one year low of $276.67 and a one year high of $615.00. The company has a market cap of $11.66 billion, a P/E ratio of -39.51 and a beta of -1.07. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.16 and a current ratio of 3.50. The business's 50-day simple moving average is $509.89 and its 200-day simple moving average is $507.98.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get 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. The business had revenue of $311.34 million for the quarter, compared to analyst estimates of $301.05 million. Madrigal Pharmaceuticals had a negative return on equity of 50.15% and a negative net margin of 27.32%.The business's quarterly revenue was up 126.8% on a year-over-year basis. During the same quarter last year, the company earned ($3.32) EPS. As a group, equities research analysts expect that Madrigal Pharmaceuticals, Inc. will post -7.3 EPS for the current fiscal year.

Insider Activity at Madrigal Pharmaceuticals

In other news, insider David Soergel sold 1,042 shares of the company's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $495.74, for a total value of $516,561.08. Following the completion of the transaction, the insider owned 10,033 shares in the company, valued at approximately $4,973,759.42. This represents a 9.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible 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 the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $515.44, for a total transaction of $2,928,730.08. Following the completion of the transaction, the director directly owned 22,015 shares in the company, valued at $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 sold 7,568 shares of company stock worth $3,880,711 over the last quarter. 17.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MDGL. Zacks Research raised shares of Madrigal Pharmaceuticals from a "strong sell" rating to a "hold" rating in a report on Friday, February 20th. Bank of America lowered their price target on shares of Madrigal Pharmaceuticals from $550.00 to $542.00 and set a "neutral" rating for the company in a report on Thursday, June 11th. HC Wainwright reissued a "buy" rating and issued a $620.00 price objective on shares of Madrigal Pharmaceuticals in a research report on Wednesday, May 6th. Wells Fargo & Company upgraded shares of Madrigal Pharmaceuticals to an "overweight" rating in a report on Monday, June 1st. Finally, Evercore set a $649.00 price objective on shares of Madrigal Pharmaceuticals in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $687.93.

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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