Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Shares Sold by AQR Capital Management LLC

AQR Capital Management LLC lowered its position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 13.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,610 shares of the biopharmaceutical company’s stock after selling 695 shares during the period. AQR Capital Management LLC’s holdings in Madrigal Pharmaceuticals were worth $1,292,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Price T Rowe Associates Inc. MD grew its holdings 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 valued at $214,491,000 after buying an additional 414,484 shares during the last quarter. Fiera Capital Corp acquired a new stake in shares of Madrigal Pharmaceuticals during the second quarter worth $32,335,000. Avoro Capital Advisors LLC boosted its holdings in shares of Madrigal Pharmaceuticals by 5.7% during the second quarter. Avoro Capital Advisors LLC now owns 2,055,555 shares of the biopharmaceutical company’s stock worth $575,884,000 after purchasing an additional 111,111 shares during the last quarter. Artal Group S.A. acquired a new stake in shares of Madrigal Pharmaceuticals during the first quarter worth $29,510,000. Finally, Rheos Capital Works Inc. acquired a new stake in shares of Madrigal Pharmaceuticals during the first quarter worth $29,432,000. Institutional investors and hedge funds own 98.50% of the company’s stock.

Insider Activity

In other news, CEO William John Sibold sold 6,363 shares of Madrigal Pharmaceuticals stock in a transaction that occurred 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 sale, the chief executive officer now owns 55,887 shares of the company’s stock, valued at approximately $13,626,927.21. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 23.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on MDGL shares. Evercore ISI decreased their price objective on Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. StockNews.com raised Madrigal Pharmaceuticals to a “sell” rating in a research report on Wednesday, October 2nd. JMP Securities increased their target price on Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the stock a “market outperform” rating in a research report on Tuesday, July 16th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Madrigal Pharmaceuticals in a research report on Tuesday, July 23rd. Finally, Citigroup cut their target price on Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $343.83.

Madrigal Pharmaceuticals Stock Down 0.1 %

Shares of NASDAQ MDGL opened at $210.58 on Friday. Madrigal Pharmaceuticals, Inc. has a 1 year low of $119.76 and a 1 year high of $299.98. The firm has a market cap of $4.57 billion, a price-to-earnings ratio of -9.12 and a beta of -0.44. 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’s 50-day simple moving average is $236.79 and its 200-day simple moving average is $245.62.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($7.10) EPS for the quarter, beating analysts’ consensus estimates of ($7.55) by $0.45. The company had revenue of $14.64 million during 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 previous year, the firm earned ($4.69) earnings per share. As a group, equities 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.