Janus Henderson Group PLC Has $525.89 Million Stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Janus Henderson Group PLC reduced its position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 0.3% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 2,478,160 shares of the biopharmaceutical company’s stock after selling 7,591 shares during the period. Janus Henderson Group PLC owned 11.36% of Madrigal Pharmaceuticals worth $525,893,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in MDGL. Oppenheimer Asset Management Inc. lifted its holdings in Madrigal Pharmaceuticals by 2.1% in the third quarter. Oppenheimer Asset Management Inc. now owns 1,507 shares of the biopharmaceutical company’s stock valued at $320,000 after acquiring an additional 31 shares during the period. Signaturefd LLC lifted its holdings in shares of Madrigal Pharmaceuticals by 36.8% in the 2nd quarter. Signaturefd LLC now owns 145 shares of the biopharmaceutical company’s stock valued at $41,000 after buying an additional 39 shares during the period. Victory Capital Management Inc. grew its position in shares of Madrigal Pharmaceuticals by 1.8% in the third quarter. Victory Capital Management Inc. now owns 2,292 shares of the biopharmaceutical company’s stock valued at $486,000 after purchasing an additional 40 shares in the last quarter. Nisa Investment Advisors LLC grew its position in Madrigal Pharmaceuticals by 47.6% in the third quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock worth $45,000 after acquiring an additional 68 shares during the period. Finally, Creative Planning grew its stake in Madrigal Pharmaceuticals by 2.7% during the 3rd quarter. Creative Planning now owns 3,299 shares of the biopharmaceutical company’s stock worth $700,000 after purchasing an additional 87 shares in the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Trading Down 2.9 %

Shares of MDGL opened at $318.55 on Tuesday. Madrigal Pharmaceuticals, Inc. has a 12 month low of $168.25 and a 12 month high of $368.29. The company has a 50-day moving average price of $264.17 and a two-hundred day moving average price of $260.09. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.93 and a current ratio of 5.98.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share for the quarter, topping the consensus estimate of ($6.94) by $2.02. The firm had revenue of $62.18 million for the quarter, compared to analyst estimates of $34.60 million. During the same quarter in the prior year, the firm earned ($5.34) earnings per share. On average, research analysts predict that Madrigal Pharmaceuticals, Inc. will post -24.08 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Evercore ISI reduced their target price on Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Oppenheimer decreased their target price on shares of Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. B. Riley boosted their price target on shares of Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Cantor Fitzgerald reissued a “neutral” rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, November 20th. Finally, HC Wainwright restated a “buy” rating and set a $390.00 target price on shares of Madrigal Pharmaceuticals in a research note on Tuesday, October 22nd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $347.33.

Insider Transactions at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, Director Fred B. Craves sold 3,400 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $350.30, for a total transaction of $1,191,020.00. Following the completion of the sale, the director now owns 14,600 shares of the company’s stock, valued at $5,114,380. This represents a 18.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William John Sibold sold 6,363 shares of the stock in a transaction dated 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 transaction, 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 10.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,763 shares of company stock valued at $4,247,210 over the last three months. Corporate insiders own 22.80% of the company’s stock.

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.