Hsbc Holdings PLC Sells 20,787 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Hsbc Holdings PLC lessened its position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 93.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,570 shares of the biopharmaceutical company’s stock after selling 20,787 shares during the quarter. Hsbc Holdings PLC’s holdings in Madrigal Pharmaceuticals were worth $440,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Avoro Capital Advisors LLC raised its stake in shares of Madrigal Pharmaceuticals by 2.9% during the 1st quarter. Avoro Capital Advisors LLC now owns 1,944,444 shares of the biopharmaceutical company’s stock worth $519,244,000 after acquiring an additional 55,556 shares in the last quarter. Vanguard Group Inc. grew its position in Madrigal Pharmaceuticals by 6.0% during the 1st quarter. Vanguard Group Inc. now owns 1,668,806 shares of the biopharmaceutical company’s stock worth $445,638,000 after purchasing an additional 94,064 shares during the last quarter. Paulson & CO. Inc. grew its position in Madrigal Pharmaceuticals by 121.1% during the 4th quarter. Paulson & CO. Inc. now owns 1,105,741 shares of the biopharmaceutical company’s stock worth $255,846,000 after purchasing an additional 605,741 shares during the last quarter. RTW Investments LP grew its position in Madrigal Pharmaceuticals by 163.4% during the 4th quarter. RTW Investments LP now owns 815,191 shares of the biopharmaceutical company’s stock worth $188,619,000 after purchasing an additional 505,706 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in Madrigal Pharmaceuticals by 106.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 803,213 shares of the biopharmaceutical company’s stock worth $214,491,000 after purchasing an additional 414,484 shares during the last quarter. Institutional investors own 98.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on MDGL shares. 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. StockNews.com raised shares of Madrigal Pharmaceuticals to a “sell” rating in a research report on Friday, September 20th. Cantor Fitzgerald reissued a “neutral” rating on shares of Madrigal Pharmaceuticals in a research report on Tuesday, July 23rd. Evercore ISI dropped their price objective on shares of Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Finally, JMP Securities upped their price objective on shares of Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the company a “market outperform” rating in a report on Tuesday, July 16th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Madrigal Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $343.83.

Madrigal Pharmaceuticals Stock Performance

Shares of NASDAQ MDGL opened at $209.33 on Wednesday. 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 company’s fifty day moving average price is $248.01 and its 200 day moving average price is $248.34. The company has a market capitalization of $4.54 billion, a PE ratio of -9.13 and a beta of -0.43. Madrigal Pharmaceuticals, Inc. has a 1 year low of $119.76 and a 1 year high of $299.98.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($7.10) earnings per share 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 analyst estimates of $4.25 million. The business’s revenue was up 146280.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($4.69) earnings per share. On average, research analysts predict that Madrigal Pharmaceuticals, Inc. will post -27.67 earnings per share for the current year.

Insiders Place Their Bets

In other Madrigal Pharmaceuticals news, CEO William John Sibold sold 6,363 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $243.83, for a total transaction of $1,551,490.29. Following the completion of the transaction, the chief executive officer now directly owns 55,887 shares in the company, valued at $13,626,927.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 23.92% of the stock is currently owned by company insiders.

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.