Janus Henderson Group PLC Lowers Stock Position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Janus Henderson Group PLC decreased its position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 10.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,208,394 shares of the biopharmaceutical company's stock after selling 269,766 shares during the quarter. Janus Henderson Group PLC owned approximately 10.13% of Madrigal Pharmaceuticals worth $681,372,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Graham Capital Management L.P. bought a new position in Madrigal Pharmaceuticals in the fourth quarter worth $203,000. Ensign Peak Advisors Inc raised its holdings in Madrigal Pharmaceuticals by 124.7% in the fourth quarter. Ensign Peak Advisors Inc now owns 35,361 shares of the biopharmaceutical company's stock worth $10,911,000 after purchasing an additional 19,627 shares in the last quarter. FORA Capital LLC bought a new position in Madrigal Pharmaceuticals in the fourth quarter worth $347,000. Cetera Investment Advisers raised its holdings in Madrigal Pharmaceuticals by 85.5% in the fourth quarter. Cetera Investment Advisers now owns 2,882 shares of the biopharmaceutical company's stock worth $889,000 after purchasing an additional 1,328 shares in the last quarter. Finally, Brevan Howard Capital Management LP bought a new position in Madrigal Pharmaceuticals in the fourth quarter worth $309,000. Institutional investors own 98.50% of the company's stock.

Insiders Place Their Bets

In other news, VP Robert E. Waltermire sold 1,227 shares of Madrigal Pharmaceuticals stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $341.07, for a total transaction of $418,492.89. Following the transaction, the vice president now directly owns 3,728 shares of the company's stock, valued at $1,271,508.96. The trade was a 24.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James M. Daly sold 15,470 shares of Madrigal Pharmaceuticals stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $347.45, for a total value of $5,375,051.50. Following the transaction, the director now directly owns 1,912 shares in the company, valued at approximately $664,324.40. The trade was a 89.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,810 shares of company stock valued at $10,610,594. Insiders own 22.80% of the company's stock.

Madrigal Pharmaceuticals Stock Performance

Shares of Madrigal Pharmaceuticals stock traded down $12.50 during trading on Wednesday, hitting $282.86. 351,034 shares of the company's stock traded hands, compared to its average volume of 386,012. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.98 and a quick ratio of 5.93. Madrigal Pharmaceuticals, Inc. has a 1 year low of $200.63 and a 1 year high of $377.46. The stock has a market capitalization of $6.28 billion, a P/E ratio of -11.28 and a beta of -0.91. The business has a 50-day simple moving average of $320.58 and a 200-day simple moving average of $319.07.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last announced its earnings results on Thursday, May 1st. The biopharmaceutical company reported ($3.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.62) by $0.30. The firm had revenue of $137.25 million during the quarter, compared to analysts' expectations of $112.79 million. During the same period in the previous year, the business posted ($7.38) earnings per share. As a group, analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on MDGL shares. Canaccord Genuity Group increased their price objective on Madrigal Pharmaceuticals from $394.00 to $420.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. UBS Group raised their price target on Madrigal Pharmaceuticals from $441.00 to $458.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Citigroup raised their price target on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a "buy" rating in a report on Thursday, February 27th. JMP Securities restated a "market outperform" rating and set a $443.00 price target on shares of Madrigal Pharmaceuticals in a report on Thursday, April 24th. Finally, B. Riley restated a "buy" rating and set a $460.00 price target (up from $422.00) on shares of Madrigal Pharmaceuticals in a report on Friday, May 2nd. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Madrigal Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus price target of $416.33.

About Madrigal Pharmaceuticals

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.