Xponance Inc. Has $313,000 Stock Holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Xponance Inc. increased its stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 25.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,117 shares of the biopharmaceutical company’s stock after acquiring an additional 224 shares during the quarter. Xponance Inc.’s holdings in Madrigal Pharmaceuticals were worth $313,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Avoro Capital Advisors LLC lifted its stake in shares of Madrigal Pharmaceuticals by 5.7% in the second quarter. Avoro Capital Advisors LLC now owns 2,055,555 shares of the biopharmaceutical company’s stock worth $575,884,000 after acquiring an additional 111,111 shares during the period. Profund Advisors LLC lifted its stake in shares of Madrigal Pharmaceuticals by 18.3% in the second quarter. Profund Advisors LLC now owns 6,816 shares of the biopharmaceutical company’s stock worth $1,910,000 after acquiring an additional 1,053 shares during the period. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Madrigal Pharmaceuticals in the second quarter worth approximately $204,000. Amalgamated Bank lifted its stake in shares of Madrigal Pharmaceuticals by 20.2% in the second quarter. Amalgamated Bank now owns 607 shares of the biopharmaceutical company’s stock worth $170,000 after acquiring an additional 102 shares during the period. Finally, E Fund Management Co. Ltd. lifted its stake in shares of Madrigal Pharmaceuticals by 30.3% in the second quarter. E Fund Management Co. Ltd. now owns 2,212 shares of the biopharmaceutical company’s stock worth $620,000 after acquiring an additional 514 shares during the period. 98.50% of the stock is owned by institutional investors and hedge funds.

Madrigal Pharmaceuticals Trading Down 1.4 %

NASDAQ MDGL opened at $209.33 on Wednesday. The company has a market cap of $4.54 billion, a price-to-earnings ratio of -9.07 and a beta of -0.43. Madrigal Pharmaceuticals, Inc. has a 52 week low of $119.76 and a 52 week high of $299.98. The business has a 50 day moving average price of $248.01 and a 200-day moving average price of $248.34. The company has a quick ratio of 8.67, a current ratio of 8.72 and a debt-to-equity ratio of 0.14.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($7.10) earnings per share (EPS) for the quarter, topping the consensus estimate 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. During the same quarter last year, the company posted ($4.69) EPS. The company’s quarterly revenue was up 146280.0% compared to the same quarter last year. As a group, equities analysts expect that Madrigal Pharmaceuticals, Inc. will post -27.67 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Analysts Set New Price Targets

A number of research firms recently commented on MDGL. StockNews.com raised Madrigal Pharmaceuticals to a “sell” rating in a research note on Friday, September 20th. Evercore ISI lowered their target price on Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Citigroup lowered their target price on Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Madrigal Pharmaceuticals in a report on Tuesday, July 23rd. Finally, JMP Securities lifted their target price on Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the stock a “market outperform” rating in a report on Tuesday, July 16th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $343.83.

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.