Profund Advisors LLC boosted its holdings in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL – Free Report) by 18.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,816 shares of the biopharmaceutical company’s stock after buying an additional 1,053 shares during the quarter. Profund Advisors LLC’s holdings in Madrigal Pharmaceuticals were worth $1,910,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Rhenman & Partners Asset Management AB bought a new stake in Madrigal Pharmaceuticals during the fourth quarter valued at approximately $5,206,000. Norges Bank bought a new stake in Madrigal Pharmaceuticals during the fourth quarter valued at approximately $33,686,000. Paulson & CO. Inc. grew its position 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 buying an additional 605,741 shares during the period. Rheos Capital Works Inc. bought a new stake in Madrigal Pharmaceuticals during the first quarter valued at approximately $29,432,000. Finally, AMI Asset Management Corp grew its position in Madrigal Pharmaceuticals by 101.5% during the first quarter. AMI Asset Management Corp now owns 9,618 shares of the biopharmaceutical company’s stock valued at $2,568,000 after buying an additional 4,845 shares during the period. 98.50% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Madrigal Pharmaceuticals
In other Madrigal Pharmaceuticals news, CEO William John Sibold sold 6,363 shares of the 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 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 available through the SEC website. 23.92% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
Check Out Our Latest Stock Report on Madrigal Pharmaceuticals
Madrigal Pharmaceuticals Price Performance
MDGL stock opened at $233.49 on Monday. Madrigal Pharmaceuticals, Inc. has a 52 week low of $119.76 and a 52 week high of $299.98. The company has a quick ratio of 8.67, a current ratio of 8.72 and a debt-to-equity ratio of 0.14. The company has a fifty day simple moving average of $255.47 and a two-hundred day simple moving average of $250.05. The firm has a market capitalization of $4.98 billion, a P/E ratio of -10.11 and a beta of -0.43.
Madrigal Pharmaceuticals (NASDAQ:MDGL – Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($7.10) EPS for the quarter, beating the consensus estimate of ($7.55) by $0.45. The business had revenue of $14.64 million for the quarter, compared to the consensus estimate of $4.25 million. During the same quarter last year, the business earned ($4.69) EPS. Madrigal Pharmaceuticals’s revenue for the quarter was up 146280.0% compared to the same quarter last year. Analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -27.67 earnings per share for the current fiscal year.
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.
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