Madrigal Pharmaceuticals, Inc. $MDGL Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. decreased its stake in Madrigal Pharmaceuticals by 0.9%, owning approximately 7.61% of the company worth around $559.8 million after selling 16,024 shares.
• Several institutional investors have increased their holdings, including Wells Fargo & Company, which raised its stake by 19.1%, now owning 34,923 shares valued at $10.8 million.
• Equities analysts have generally positive views on the stock, with a consensus rating of "Moderate Buy" and a consensus price target of $439.71, following several adjustments to price objectives.

Vanguard Group Inc. lessened its holdings in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 0.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,690,111 shares of the biopharmaceutical company's stock after selling 16,024 shares during the period. Vanguard Group Inc. owned approximately 7.61% of Madrigal Pharmaceuticals worth $559,815,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. American Assets Investment Management LLC acquired a new position in shares of Madrigal Pharmaceuticals in the first quarter valued at about $1,491,000. Accent Capital Management LLC acquired a new position in Madrigal Pharmaceuticals in the 1st quarter worth about $25,000. Earned Wealth Advisors LLC purchased a new position in shares of Madrigal Pharmaceuticals during the 1st quarter valued at approximately $802,000. Blair William & Co. IL acquired a new stake in shares of Madrigal Pharmaceuticals in the first quarter valued at about $332,000. Finally, Blueshift Asset Management LLC purchased a new stake in Madrigal Pharmaceuticals during the 1st quarter worth approximately $406,000. Institutional investors and hedge funds own 98.50% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Wall Street Zen upgraded shares of Madrigal Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Monday, May 5th. JMP Securities restated a "market outperform" rating and issued a $443.00 price objective on shares of Madrigal Pharmaceuticals in a report on Thursday, April 24th. UBS Group restated a "buy" rating and set a $523.00 price target (up from $458.00) on shares of Madrigal Pharmaceuticals in a research note on Tuesday, August 12th. B. Riley reaffirmed a "buy" rating and set a $460.00 target price (up from $422.00) on shares of Madrigal Pharmaceuticals in a research note on Friday, May 2nd. Finally, Canaccord Genuity Group lifted their price objective on Madrigal Pharmaceuticals from $420.00 to $428.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $439.71.

Insider Buying and Selling

In related news, Director Kenneth Bate sold 10,000 shares of Madrigal Pharmaceuticals stock in a transaction on Friday, August 15th. The stock was sold at an average price of $365.20, for a total transaction of $3,652,000.00. Following the completion of the transaction, the director directly owned 2,627 shares of the company's stock, valued at approximately $959,380.40. The trade was a 79.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Rebecca Taub sold 43,263 shares of the firm's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $355.69, for a total transaction of $15,388,216.47. Following the transaction, the director owned 461,044 shares of the company's stock, valued at $163,988,740.36. This trade represents a 8.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 292,820 shares of company stock valued at $105,933,936. Corporate insiders own 21.50% of the company's stock.

Madrigal Pharmaceuticals Stock Performance

Shares of NASDAQ MDGL traded up $6.53 during midday trading on Monday, reaching $376.37. 462,612 shares of the company were exchanged, compared to its average volume of 377,796. The stock has a market cap of $8.36 billion, a P/E ratio of -29.32 and a beta of -1.02. The company has a current ratio of 5.11, a quick ratio of 4.78 and a debt-to-equity ratio of 0.17. The stock has a fifty day simple moving average of $310.35 and a 200 day simple moving average of $314.18. Madrigal Pharmaceuticals, Inc. has a 1 year low of $200.63 and a 1 year high of $377.46.

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

Madrigal Pharmaceuticals 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.