Affinity Asset Advisors LLC Sells 5,000 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Affinity Asset Advisors LLC trimmed its position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 4.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 110,000 shares of the biopharmaceutical company’s stock after selling 5,000 shares during the period. Madrigal Pharmaceuticals makes up about 3.6% of Affinity Asset Advisors LLC’s holdings, making the stock its 4th biggest holding. Affinity Asset Advisors LLC owned 0.51% of Madrigal Pharmaceuticals worth $30,818,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in MDGL. Rhenman & Partners Asset Management AB acquired a new position in Madrigal Pharmaceuticals during the fourth quarter valued at approximately $5,206,000. Norges Bank purchased a new stake in Madrigal Pharmaceuticals during the 4th quarter worth $33,686,000. Paulson & CO. Inc. raised its position in Madrigal Pharmaceuticals by 121.1% in the fourth quarter. Paulson & CO. Inc. now owns 1,105,741 shares of the biopharmaceutical company’s stock valued at $255,846,000 after purchasing an additional 605,741 shares during the period. Rheos Capital Works Inc. acquired a new position in shares of Madrigal Pharmaceuticals during the first quarter worth about $29,432,000. Finally, AMI Asset Management Corp boosted its position in shares of Madrigal Pharmaceuticals by 101.5% in the first quarter. AMI Asset Management Corp now owns 9,618 shares of the biopharmaceutical company’s stock worth $2,568,000 after buying an additional 4,845 shares during the period. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Madrigal Pharmaceuticals Trading Down 1.2 %

NASDAQ:MDGL opened at $223.07 on Wednesday. Madrigal Pharmaceuticals, Inc. has a 1 year low of $119.76 and a 1 year high of $299.98. The business has a fifty day moving average of $253.37 and a 200-day moving average of $249.64. The company has a debt-to-equity ratio of 0.14, a quick ratio of 8.67 and a current ratio of 8.72. The stock has a market cap of $4.84 billion, a price-to-earnings ratio of -9.66 and a beta of -0.43.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($7.10) EPS for the quarter, topping analysts’ consensus estimates of ($7.55) by $0.45. The company had revenue of $14.64 million for the quarter, compared to the consensus estimate of $4.25 million. The firm’s quarterly revenue was up 146280.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($4.69) earnings per share. Equities analysts predict that Madrigal Pharmaceuticals, Inc. will post -27.67 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Wolfe Research started coverage on shares of Madrigal Pharmaceuticals in a research report on Tuesday, June 11th. They set an “outperform” rating and a $382.00 target price on the stock. JMP Securities lifted their price objective on Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the stock a “market outperform” rating in a report on Tuesday, July 16th. StockNews.com upgraded Madrigal Pharmaceuticals to a “sell” rating in a research note on Friday, September 20th. Citigroup dropped their price target on shares of Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Finally, Cantor Fitzgerald reissued a “neutral” rating on shares of Madrigal Pharmaceuticals in a report on Tuesday, July 23rd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $343.83.

Insiders Place Their Bets

In other news, CEO William John Sibold sold 6,363 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $243.83, for a total value of $1,551,490.29. Following the completion of the sale, the chief executive officer now directly owns 55,887 shares of the company’s stock, valued at $13,626,927.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 23.92% of the company’s stock.

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.