Braidwell LP Invests $16.13 Million in Madrigal Pharmaceuticals, Inc. $MDGL

Key Points

• Braidwell LP purchased 48,690 shares of Madrigal Pharmaceuticals, Inc., valued at approximately $16.1 million, representing about 0.22% ownership of the biopharmaceutical company.
• Several hedge funds increased their stakes in Madrigal Pharmaceuticals, with Woodline Partners LP raising its investment by 110.2% during the 4th quarter.
• The company reported a significant revenue increase of 1357.5% year-over-year, with quarterly earnings of $212.8 million and an EPS of ($1.90), beating analysts' expectations.

Braidwell LP acquired a new stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 48,690 shares of the biopharmaceutical company's stock, valued at approximately $16,128,000. Braidwell LP owned about 0.22% of Madrigal Pharmaceuticals as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Woodline Partners LP grew its holdings in shares of Madrigal Pharmaceuticals by 110.2% during the fourth quarter. Woodline Partners LP now owns 309,117 shares of the biopharmaceutical company's stock valued at $95,384,000 after purchasing an additional 162,027 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Madrigal Pharmaceuticals by 1.4% during the fourth quarter. Bank of America Corp DE now owns 217,828 shares of the biopharmaceutical company's stock valued at $67,215,000 after purchasing an additional 2,940 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Madrigal Pharmaceuticals by 15.7% during the first quarter. American Century Companies Inc. now owns 158,306 shares of the biopharmaceutical company's stock valued at $52,436,000 after purchasing an additional 21,457 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Madrigal Pharmaceuticals by 5.5% during the fourth quarter. Northern Trust Corp now owns 155,883 shares of the biopharmaceutical company's stock valued at $48,101,000 after purchasing an additional 8,111 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Madrigal Pharmaceuticals by 0.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 151,251 shares of the biopharmaceutical company's stock valued at $50,099,000 after purchasing an additional 505 shares during the last quarter. 98.50% of the stock is owned by institutional investors.

Insider Activity at Madrigal Pharmaceuticals

In other news, General Counsel Shannon T. Kelley sold 1,304 shares of the company's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $367.81, for a total value of $479,624.24. Following the transaction, the general counsel directly owned 9,173 shares of the company's stock, valued at approximately $3,373,921.13. This represents a 12.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Paul A. Friedman sold 129,172 shares of the company's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $370.24, for a total transaction of $47,824,641.28. Following the completion of the transaction, the director directly owned 187,164 shares in the company, valued at $69,295,599.36. This trade represents a 40.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 165,683 shares of company stock worth $61,921,142 and sold 301,740 shares worth $109,461,331. Company insiders own 21.50% of the company's stock.

Madrigal Pharmaceuticals Price Performance

Shares of NASDAQ:MDGL traded down $4.06 on Thursday, reaching $431.21. 257,728 shares of the company traded hands, compared to its average volume of 380,707. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $200.63 and a fifty-two week high of $443.00. The company's 50 day moving average is $347.38 and its 200-day moving average is $322.54. The stock has a market capitalization of $9.57 billion, a PE ratio of -33.56 and a beta of -1.02. The company has a debt-to-equity ratio of 0.17, a current ratio of 5.11 and a quick ratio of 4.78.

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. HC Wainwright assumed coverage on Madrigal Pharmaceuticals in a report on Thursday. They set a "buy" rating and a $500.00 target price for the company. Canaccord Genuity Group boosted their price objective on Madrigal Pharmaceuticals from $420.00 to $428.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. JMP Securities boosted their price objective on Madrigal Pharmaceuticals from $483.00 to $485.00 and gave the stock a "market outperform" rating in a research report on Wednesday, August 20th. Cowen reiterated a "buy" rating on shares of Madrigal Pharmaceuticals in a research report on Tuesday, August 26th. Finally, UBS Group restated a "buy" rating and issued a $523.00 target price (up from $458.00) on shares of Madrigal Pharmaceuticals in a research report on Tuesday, August 12th. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, Madrigal Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus target price of $471.13.

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.