Blair William & Co. IL Purchases New Shares in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Key Points

• Blair William & Co. IL has acquired 1,003 shares of Madrigal Pharmaceuticals, valued at approximately $332,000, during the first quarter of the year.
• Several institutional investors, including Rhumbline Advisers and Franklin Resources Inc., have increased their stakes in Madrigal Pharmaceuticals significantly, indicating strong institutional interest in the company.
• Madrigal Pharmaceuticals recently reported earnings of ($1.90) EPS, exceeding consensus estimates and demonstrating a year-over-year revenue increase of 1357.5%.

Blair William & Co. IL bought a new position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,003 shares of the biopharmaceutical company's stock, valued at approximately $332,000.

Several other institutional investors also recently bought and sold shares of MDGL. VSM Wealth Advisory LLC purchased a new stake in shares of Madrigal Pharmaceuticals during the 1st quarter valued at about $25,000. Farther Finance Advisors LLC boosted its position in Madrigal Pharmaceuticals by 825.0% in the 1st quarter. Farther Finance Advisors LLC now owns 111 shares of the biopharmaceutical company's stock valued at $36,000 after buying an additional 99 shares during the period. GAMMA Investing LLC grew its stake in Madrigal Pharmaceuticals by 131.4% in the first quarter. GAMMA Investing LLC now owns 118 shares of the biopharmaceutical company's stock worth $39,000 after purchasing an additional 67 shares in the last quarter. First Horizon Advisors Inc. increased its stake in shares of Madrigal Pharmaceuticals by 38.9% during the first quarter. First Horizon Advisors Inc. now owns 157 shares of the biopharmaceutical company's stock valued at $52,000 after buying an additional 44 shares during the period. Finally, Parallel Advisors LLC raised its holdings in shares of Madrigal Pharmaceuticals by 42.7% in the 1st quarter. Parallel Advisors LLC now owns 284 shares of the biopharmaceutical company's stock valued at $94,000 after purchasing an additional 85 shares in the last quarter. 98.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MDGL. Wall Street Zen upgraded Madrigal Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Monday, May 5th. Canaccord Genuity Group raised their price target on shares of Madrigal Pharmaceuticals from $420.00 to $428.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. UBS Group reiterated a "buy" rating and set a $523.00 price objective (up previously from $458.00) on shares of Madrigal Pharmaceuticals in a research note on Tuesday. B. Riley reaffirmed a "buy" rating and issued a $460.00 price target (up from $422.00) on shares of Madrigal Pharmaceuticals in a report on Friday, May 2nd. Finally, JMP Securities reiterated a "market outperform" rating and set a $443.00 price objective on shares of Madrigal Pharmaceuticals in a report on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $439.71.

Madrigal Pharmaceuticals Stock Performance

Shares of Madrigal Pharmaceuticals stock traded down $2.09 on Thursday, reaching $371.37. 322,224 shares of the stock were exchanged, compared to its average volume of 378,200. The business has a 50 day moving average price of $306.57 and a two-hundred day moving average price of $313.72. The firm has a market capitalization of $8.24 billion, a price-to-earnings ratio of -28.90 and a beta of -1.02. Madrigal Pharmaceuticals, Inc. has a twelve month low of $200.63 and a twelve month high of $377.46. The company has a quick ratio of 4.78, a current ratio of 5.11 and a debt-to-equity ratio of 0.17.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported ($1.90) EPS for the quarter, beating the consensus estimate of ($3.48) by $1.58. Madrigal Pharmaceuticals had a negative net margin of 54.68% and a negative return on equity of 38.38%. The business had revenue of $212.80 million for the quarter, compared to the consensus estimate of $158.94 million. During the same period in the prior year, the firm earned ($7.10) EPS. The business's revenue for the quarter was up 1357.5% on a year-over-year basis. Analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Paul A. Friedman sold 129,172 shares of the stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $370.24, for a total transaction of $47,824,641.28. Following the sale, the director directly owned 187,164 shares of the company's stock, valued at approximately $69,295,599.36. This represents a 40.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Rebecca Taub sold 43,263 shares of Madrigal Pharmaceuticals stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $355.69, for a total transaction of $15,388,216.47. Following the completion of the transaction, the director directly owned 461,044 shares of the company's stock, valued at $163,988,740.36. The trade was a 8.58% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 282,820 shares of company stock valued at $102,281,936. Insiders own 21.50% 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.