Emerald Advisers LLC Trims Stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Emerald Advisers LLC reduced its position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 4.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 96,764 shares of the biopharmaceutical company’s stock after selling 4,859 shares during the period. Madrigal Pharmaceuticals comprises about 1.1% of Emerald Advisers LLC’s portfolio, making the stock its 28th biggest holding. Emerald Advisers LLC owned about 0.45% of Madrigal Pharmaceuticals worth $27,109,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Rhenman & Partners Asset Management AB purchased a new stake in shares of Madrigal Pharmaceuticals in the fourth quarter valued at approximately $5,206,000. Norges Bank purchased a new stake in Madrigal Pharmaceuticals in the 4th quarter worth $33,686,000. BNP Paribas Financial Markets raised its position in Madrigal Pharmaceuticals by 37.0% during the fourth quarter. BNP Paribas Financial Markets now owns 22,769 shares of the biopharmaceutical company’s stock worth $5,268,000 after acquiring an additional 6,148 shares during the period. Paulson & CO. Inc. lifted its holdings in Madrigal Pharmaceuticals by 121.1% during 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 in the last quarter. Finally, Rheos Capital Works Inc. acquired a new stake in shares of Madrigal Pharmaceuticals in the first quarter valued at about $29,432,000. 98.50% of the stock is owned by hedge funds and other institutional investors.

Madrigal Pharmaceuticals Trading Down 0.9 %

Shares of MDGL opened at $243.89 on Friday. Madrigal Pharmaceuticals, Inc. has a 12-month low of $119.76 and a 12-month high of $299.98. The firm has a market capitalization of $5.20 billion, a P/E ratio of -10.56 and a beta of -0.43. The firm has a 50-day moving average price of $264.58 and a 200 day moving average price of $250.39. The company has a current ratio of 8.72, a quick ratio of 8.67 and a debt-to-equity ratio of 0.14.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($7.10) earnings per share for the quarter, beating the consensus estimate of ($7.55) by $0.45. The firm had revenue of $14.64 million during the quarter, compared to analysts’ expectations of $4.25 million. The business’s quarterly revenue was up 146280.0% on a year-over-year basis. During the same period last year, the company earned ($4.69) EPS. Sell-side analysts forecast that Madrigal Pharmaceuticals, Inc. will post -27.54 EPS for the current year.

Insider Buying and Selling

In other Madrigal Pharmaceuticals news, VP Robert E. Waltermire sold 1,900 shares of Madrigal Pharmaceuticals stock in a transaction on Friday, June 14th. The stock was sold at an average price of $280.00, for a total value of $532,000.00. Following the sale, the vice president now owns 5,500 shares in the company, valued at $1,540,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Robert E. Waltermire sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $285.00, for a total value of $570,000.00. Following the transaction, the vice president now directly owns 5,500 shares in the company, valued at approximately $1,567,500. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Robert E. Waltermire sold 1,900 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $280.00, for a total transaction of $532,000.00. Following the transaction, the vice president now directly owns 5,500 shares of the company’s stock, valued at approximately $1,540,000. The disclosure for this sale can be found here. 23.92% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Cantor Fitzgerald restated a “neutral” rating on shares of Madrigal Pharmaceuticals in a research report on Tuesday, July 23rd. StockNews.com raised Madrigal Pharmaceuticals to a “sell” rating in a research note on Friday, July 19th. Evercore ISI dropped their price target on Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. JMP Securities raised their price objective on Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the company a “market outperform” rating in a report on Tuesday, July 16th. Finally, Wolfe Research initiated coverage on shares of Madrigal Pharmaceuticals in a report on Tuesday, June 11th. They set an “outperform” rating and a $382.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Madrigal Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $343.83.

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.