Pictet Asset Management Holding SA Sells 9,847 Shares of Madrigal Pharmaceuticals, Inc. $MDGL

Key Points

• Pictet Asset Management Holding SA sold 9,847 shares of Madrigal in Q4, trimming its stake by 5.1% to 181,949 shares — about 0.80% of the company — valued at roughly $106.0 million.
• Madrigal posted a large quarterly EPS miss (‑$2.57 vs. $0.04 estimate) while revenue surged 210.8% YoY to $321.1 million, and analysts forecast a ‑5.22 EPS for the current fiscal year.
• The stock trades near $520 with a market cap of about $11.9 billion; analysts' consensus is a “Moderate Buy” with an average price target of $685.31.

Pictet Asset Management Holding SA decreased its holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 5.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 181,949 shares of the biopharmaceutical company's stock after selling 9,847 shares during the period. Pictet Asset Management Holding SA owned approximately 0.80% of Madrigal Pharmaceuticals worth $106,018,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Eastern Bank increased its holdings in Madrigal Pharmaceuticals by 32.3% in the 4th quarter. Eastern Bank now owns 86 shares of the biopharmaceutical company's stock worth $50,000 after purchasing an additional 21 shares in the last quarter. Centaurus Financial Inc. increased 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 worth $325,000 after purchasing an additional 34 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in Madrigal Pharmaceuticals by 34.6% in the 4th quarter. Farther Finance Advisors LLC now owns 140 shares of the biopharmaceutical company's stock worth $82,000 after purchasing an additional 36 shares in the last quarter. Orion Porfolio Solutions LLC increased its holdings in Madrigal Pharmaceuticals by 1.3% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 3,638 shares of the biopharmaceutical company's stock worth $1,101,000 after purchasing an additional 47 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in Madrigal Pharmaceuticals by 53.3% in the 4th quarter. GAMMA Investing LLC now owns 138 shares of the biopharmaceutical company's stock worth $80,000 after purchasing an additional 48 shares in the last quarter. Institutional investors own 98.50% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Zacks Research raised Madrigal Pharmaceuticals from a "strong sell" rating to a "hold" rating in a report on Friday, February 20th. Barclays began coverage on Madrigal Pharmaceuticals in a research report on Tuesday, January 27th. They set an "overweight" rating and a $964.00 target price on the stock. Wolfe Research set a $579.00 price target on Madrigal Pharmaceuticals in a report on Tuesday, January 6th. Bank of America lowered their price objective on Madrigal Pharmaceuticals from $570.00 to $529.00 and set a "neutral" rating on the stock in a research report on Friday, February 20th. Finally, The Goldman Sachs Group reiterated a "buy" rating and issued a $571.00 price objective on shares of Madrigal Pharmaceuticals in a research report on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $685.31.

Madrigal Pharmaceuticals Trading Up 1.5%

NASDAQ MDGL opened at $520.09 on Tuesday. The stock's 50-day simple moving average is $480.39 and its two-hundred day simple moving average is $503.48. Madrigal Pharmaceuticals, Inc. has a twelve month low of $265.00 and a twelve month high of $615.00. The company has a quick ratio of 3.77, a current ratio of 4.01 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $11.93 billion, a price-to-earnings ratio of -40.41 and a beta of -1.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last released its quarterly earnings results on Thursday, February 19th. The biopharmaceutical company reported ($2.57) earnings per share for the quarter, missing analysts' consensus estimates of $0.04 by ($2.61). Madrigal Pharmaceuticals had a negative net margin of 30.08% and a negative return on equity of 43.76%. The firm had revenue of $321.08 million for the quarter, compared to analysts' expectations of $310.36 million. During the same quarter in the previous year, the business earned ($2.71) EPS. The company's revenue for the quarter was up 210.8% on a year-over-year basis. Research analysts forecast that Madrigal Pharmaceuticals, Inc. will post -5.22 EPS for the current fiscal year.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, General Counsel Shannon T. Kelley sold 360 shares of the firm's stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $431.94, for a total transaction of $155,498.40. Following the sale, the general counsel owned 12,138 shares in the company, valued at $5,242,887.72. This trade represents a 2.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Rebecca Taub sold 491 shares of the firm's stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $431.94, for a total value of $212,082.54. Following the sale, the director owned 452,213 shares in the company, valued at $195,328,883.22. The trade was a 0.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 6,098 shares of company stock valued at $2,626,254. 21.50% of the stock is currently owned by company insiders.

Madrigal Pharmaceuticals Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.