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MDGL: Held by 11 Biotech Hedge Funds (2026) | BiotechEdge

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Home›Companies›Madrigal Pharmaceuticals Inc. (MDGL)

Madrigal Pharmaceuticals Inc.

MDGL

Held by 11 specialist biotech funds

High ConvergenceHigh short interest · No specialist buying

11 funds opened new positions. Next phase2 readout (MGL-3196): Oct 2017. Short interest: 20.2% of float.

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Data sourced from SEC EDGAR and ClinicalTrials.gov. Not investment advice.

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BiotechnologyCEO: William J. SiboldIPO: 2007Website ↗

Madrigal Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company, focuses on the development and commercialization of therapeutic candidates for the treatment of cardiovascular, metabolic, and liver diseases. Its lead product candidate is resmetirom, a liver-directed selective thyroid hormone receptor-ß agonist, which is in Phase III clinical trials for the treatment of non-alcoholic steatohepatitis. The company also develops MGL-3745, a backup compound to resmetirom. It has research, development, and commercialization agreement with Hoffmann-La Roche. Madrigal Pharmaceuticals, Inc. is headquartered in West Conshohocken, Pennsylvania.

Score Holdings Short Interest Catalysts Insiders Research

Signal Score

5.5/10

11 funds opened new positions●●

No recent insider activity●●

Phase3 readout expected Dec 2026●●

Held by 11 specialist funds●●

See how each signal contributes— fund overlap, insider activity, catalyst timing, short interest (free trial)

Conviction + Catalyst

11 specialist funds hold MDGL with a Phase 3 in 232 days for Resmetirom (NASH, Cirrhosis, Liver)

+2 more upcoming catalysts

Avoro Capital Advisors Perceptive Advisors Driehaus Capital EcoR1 Capital RA Capital Management RTW Investments Baker Bros. Advisors Deerfield Management OrbiMed Advisors Rock Springs Capital Boxer Capital

Fund Holdings

11 fund convergence

Avoro Capital AdvisorsHeld 7Q ↓

Perceptive Advisors

Driehaus CapitalHeld 2Q

RA Capital Management

RTW InvestmentsHeld 7Q

Baker Bros. AdvisorsHeld 7Q

Deerfield Management

OrbiMed Advisors

Rock Springs CapitalHeld 7Q ↓

Position history (shares)

Avoro Capital Advisors

7Q

Perceptive Advisors

2Q

Driehaus Capital

2Q

EcoR1 Capital

6Q

RTW Investments

7Q

Baker Bros. Advisors

7Q

Rock Springs Capital

7Q

AI Signal

Signal Note: OrbiMed Exit from Madrigal Pharmaceuticals (MDGL)

OrbiMed's complete exit from MDGL contradicts the apparent high-conviction thesis held by 11 specialist healthcare funds, suggesting either valuation concerns or risk reassessment ahead of near-term catalysts (Phase 3 NAFLD readout due March 2026, Phase 3 cirrhosis/NASH readout December 2026). The divergence between a tier-1 investor's exit and concentrated fund ownership warrants scrutiny of Madrigal's cash position and whether recent price appreciation has created asymmetric risk relative to upcoming binary trial data in MASH/NASH—a crowded therapeutic space with multiple competitors in late-stage development.

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7 quarters

Position Trend

Aug 14, 2025

$1.8B

5 funds

Nov 14, 2025

$2.9B

6 funds

Feb 17, 2026

$2.6B

4 funds

Mar 16, 2026

$1.1B

1 fund

+22% total institutional value over 21 quarters

Short Interest

High short interestSI rising 2 periods (+7.2%)

Short Shares

4.01M

Change

+2.1%

Days to Cover

10.5

% of Float

20.2%

Settlement

Apr 15, 2026

Short interest over 5 periods

Catalysts

Phase 2PositiveQ4 2017MGL-3196Non-alcoholic SteatohepatitisNCT02912260

Primary: Percent Change From Baseline To Week 12 In Hepatic Fat Fraction Assessed By Magnetic Resonance Imaging Proton Density Fat Fraction (MRI-PDFF) (Week 12)Enrollment:125/125Sites: 26RANDOMIZED, QUADRUPLE, TREATMENT

Phase 3Q1 2026ResmetiromNon-Alcoholic Fatty Liver DiseaseNCT04951219

Phase 3Q4 2026ResmetiromNASH, Cirrhosis, LiverNCT05500222

Phase 2Q3 2027ResmetiromMASH - Metabolic Dysfunction-Associated SteatohepatitisNCT07335601

Phase 3Q1 2028MGL-3196NASH - Nonalcoholic SteatohepatitisNCT03900429

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Activist Filings

SC 13GRTW Investments9.2%Nov 14, 2024

SC 13D/ABaker Bros. Advisors10.0%Mar 25, 2024

SC 13G/AAvoro Capital Advisors9.9%Feb 14, 2024

SC 13D/ABaker Bros. Advisors10.0%Nov 21, 2023

SC 13D/ABaker Bros. Advisors10.0%Oct 5, 2023

SC 13D/ABaker Bros. Advisors8.4%Aug 8, 2023

SC 13DBaker Bros. Advisors8.4%Jun 20, 2023

SC 13G/ABaker Bros. Advisors9.0%Feb 14, 2023

SC 13G/AAvoro Capital Advisors9.7%Feb 14, 2023

SC 13G/ADeep Track Capital0.0%Feb 14, 2023

SC 13GDeep Track Capital5.4%May 19, 2022

SC 13G/AAvoro Capital Advisors8.3%Feb 11, 2022

SC 13G/ABaker Bros. Advisors9.7%Feb 16, 2021

SC 13GAvoro Capital Advisors7.9%Feb 12, 2021

SC 13GBaker Bros. Advisors7.6%Feb 13, 2019

Recent News & Research

PubMed

Estimation of Rezdiffra (MGL-3196) by Validated RP-HPLC Approach in Bulk Material and Pharmaceutical Formulation.

# Investment Summary: Madrigal Pharmaceuticals (MDGL) This analytical chemistry paper describes a validated reverse-phase HPLC method for quantifying rezdiffra (MGL-3196) in raw material and finished drug formulations. The work supports manufacturing scale-up and quality control standardization—routine but necessary for commercial production and regulatory compliance as the drug moves through post-launch phases. For investors, this indicates infrastructure maturation for sustained supply chain reliability, though the research itself does not address clinical efficacy, market adoption, or competitive positioning.

Apr 7, 2026

PubMed

Quantitative regression of qFibrosis with resmetirom: Exploratory histologic endpoints from the MAESTRO-NASH phase III clinical trial.

# Investment Summary: Madrigal Pharmaceuticals (MDGL) Resmetirom demonstrated quantitative regression of liver fibrosis in MAESTRO-NASH, with histologic improvements supporting the drug's mechanism as a THR-β agonist for NASH treatment. This exploratory endpoint data strengthens the clinical profile beyond standard NASH endpoints and could support FDA approval discussions, given the significant unmet need in progressive fibrosis stages. Commercial viability depends on regulatory interpretation of these histologic findings and competitive positioning relative to other pipeline NASH candidates, particularly regarding disease stage penetration and label claims.

Mar 25, 2026

Position Details

Avoro Capital AdvisorsDECREASEMar 16, 2026

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Insider Signals

No insider purchases or sales detected in the past 90 days.

Also Held by These Funds

RYTM3 funds NUVL3 funds GPCR3 funds INSM3 funds ACRV2 funds ACLX2 funds AKRO2 funds BEIGF2 funds

Research Links

Yahoo Finance →SEC EDGAR →ClinicalTrials.gov →

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