Tema Etfs LLC Sells 1,342 Shares of Madrigal Pharmaceuticals, Inc. $MDGL

Key Points

• Tema Etfs LLC reduced its stake in Madrigal Pharmaceuticals by 37.1% in the first quarter, bringing their holdings to 2,278 shares valued at $755,000.
• The company reported quarterly earnings per share of ($1.90), surpassing analysts' expectations, with revenue skyrocketing by 1357.5% year-over-year.
• Research analysts have increased price targets for Madrigal Pharmaceuticals, with TD Cowen raising its target from $390 to $554, maintaining a "buy" rating.

Tema Etfs LLC trimmed its position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 37.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,278 shares of the biopharmaceutical company's stock after selling 1,342 shares during the quarter. Tema Etfs LLC's holdings in Madrigal Pharmaceuticals were worth $755,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Mutual of America Capital Management LLC boosted its holdings in Madrigal Pharmaceuticals by 0.3% in the first quarter. Mutual of America Capital Management LLC now owns 11,263 shares of the biopharmaceutical company's stock valued at $3,731,000 after acquiring an additional 31 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in Madrigal Pharmaceuticals by 38.9% in the first quarter. First Horizon Advisors Inc. now owns 157 shares of the biopharmaceutical company's stock valued at $52,000 after acquiring an additional 44 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Madrigal Pharmaceuticals by 131.4% in the first quarter. GAMMA Investing LLC now owns 118 shares of the biopharmaceutical company's stock valued at $39,000 after acquiring an additional 67 shares in the last quarter. Verity Asset Management Inc. boosted its holdings in Madrigal Pharmaceuticals by 4.7% in the first quarter. Verity Asset Management Inc. now owns 1,560 shares of the biopharmaceutical company's stock valued at $517,000 after acquiring an additional 70 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its holdings in Madrigal Pharmaceuticals by 6.3% in the first quarter. Oppenheimer Asset Management Inc. now owns 1,203 shares of the biopharmaceutical company's stock valued at $398,000 after acquiring an additional 71 shares in the last quarter. Institutional investors own 98.50% of the company's stock.

Insider Activity

In related news, CEO William John Sibold sold 7,616 shares of the stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $400.18, for a total transaction of $3,047,770.88. Following the sale, the chief executive officer directly owned 109,753 shares of the company's stock, valued at $43,920,955.54. This trade represents a 6.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Paul A. Friedman sold 129,172 shares of the stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $370.24, for a total value of $47,824,641.28. Following the sale, the director directly owned 187,164 shares in the company, valued at $69,295,599.36. This trade represents a 40.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders purchased 165,683 shares of company stock valued at $61,921,142 and sold 301,740 shares valued at $109,461,331. Insiders own 21.50% of the company's stock.

Madrigal Pharmaceuticals Stock Up 0.2%

Shares of NASDAQ:MDGL traded up $0.68 on Friday, hitting $437.85. 304,210 shares of the company traded hands, compared to its average volume of 456,525. Madrigal Pharmaceuticals, Inc. has a 52 week low of $200.63 and a 52 week high of $439.00. The company has a quick ratio of 4.78, a current ratio of 5.11 and a debt-to-equity ratio of 0.17. The stock has a 50 day simple moving average of $335.47 and a 200-day simple moving average of $319.81. The company has a market cap of $9.72 billion, a PE ratio of -34.07 and a beta of -1.02.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($1.90) earnings per share for the quarter, beating the consensus estimate of ($3.48) by $1.58. Madrigal Pharmaceuticals had a negative return on equity of 38.38% and a negative net margin of 54.68%.The firm had revenue of $212.80 million during the quarter, compared to the consensus estimate of $158.94 million. During the same period last year, the company earned ($7.10) earnings per share. The company's revenue was up 1357.5% on a year-over-year basis. As a group, research analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. UBS Group reiterated a "buy" rating and issued a $523.00 price target (up previously from $458.00) on shares of Madrigal Pharmaceuticals in a report on Tuesday, August 12th. TD Cowen raised their price objective on Madrigal Pharmaceuticals from $390.00 to $554.00 and gave the company a "buy" rating in a research report on Tuesday. B. Riley reissued a "buy" rating and set a $460.00 price objective (up previously from $422.00) on shares of Madrigal Pharmaceuticals in a research report on Friday, May 2nd. Cowen reissued a "buy" rating on shares of Madrigal Pharmaceuticals in a research report on Tuesday. Finally, Wall Street Zen raised Madrigal Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Monday, May 5th. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $459.25.

Madrigal Pharmaceuticals Company Profile

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.