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

Janus Henderson Group PLC cut its position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 10.9% during the 4th quarter, according to its most recent disclosure with the Securities & 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 about 10.13% of Madrigal Pharmaceuticals worth $681,372,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Activity

In related news, VP Robert E. Waltermire sold 14,113 shares of Madrigal Pharmaceuticals stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $341.32, for a total value of $4,817,049.16. Following the sale, the vice president now directly owns 3,728 shares in the company, valued at approximately $1,272,440.96. The trade was a 79.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director James M. Daly sold 15,470 shares of Madrigal Pharmaceuticals stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $347.45, for a total value of $5,375,051.50. Following the completion of the sale, the director now 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. Insiders have sold 30,810 shares of company stock worth $10,610,594 in the last ninety days. Company insiders own 22.80% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on MDGL shares. JMP Securities reaffirmed a "market outperform" rating and issued a $443.00 price objective on shares of Madrigal Pharmaceuticals in a research note on Thursday, April 24th. UBS Group boosted their target price on Madrigal Pharmaceuticals from $441.00 to $458.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. B. Riley reiterated a "buy" rating and issued a $460.00 target price (up from $422.00) on shares of Madrigal Pharmaceuticals in a research report on Friday, May 2nd. Canaccord Genuity Group upped their price objective on Madrigal Pharmaceuticals from $394.00 to $420.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Finally, Citigroup upped their price objective on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $416.33.

Madrigal Pharmaceuticals Stock Performance

Shares of NASDAQ MDGL traded down $0.86 during trading on Friday, reaching $290.96. 293,252 shares of the company traded hands, compared to its average volume of 385,148. The firm's fifty day simple moving average is $318.87 and its 200 day simple moving average is $319.33. The stock has a market cap of $6.46 billion, a P/E ratio of -11.60 and a beta of -0.91. Madrigal Pharmaceuticals, Inc. has a 12-month low of $200.63 and a 12-month high of $377.46. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15.

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

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.