ADAR1 Capital Management LLC Makes New Investment in Madrigal Pharmaceuticals, Inc. $MDGL

Key Points

• ADAR1 Capital Management LLC has invested approximately $494,000 in Madrigal Pharmaceuticals, acquiring 1,490 shares during the first quarter.
• Wall Street analysts have a consensus rating of "Moderate Buy", with various price target upgrades, the highest now at $554.00.
• Insider activity includes a significant sale by Director Paul A. Friedman, who decreased his holdings by 40.83%, while Bros. Advisors increased their stake by 3.17% through a purchase of nearly 60,000 shares.

ADAR1 Capital Management LLC acquired a new stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,490 shares of the biopharmaceutical company's stock, valued at approximately $494,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Rhumbline Advisers lifted its holdings in shares of Madrigal Pharmaceuticals by 7.9% during the 1st quarter. Rhumbline Advisers now owns 26,364 shares of the biopharmaceutical company's stock valued at $8,733,000 after buying an additional 1,924 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Madrigal Pharmaceuticals by 131.4% in the 1st quarter. GAMMA Investing LLC now owns 118 shares of the biopharmaceutical company's stock valued at $39,000 after purchasing an additional 67 shares during the last quarter. XTX Topco Ltd bought a new stake in Madrigal Pharmaceuticals in the first quarter worth $392,000. Park Avenue Securities LLC acquired a new position in Madrigal Pharmaceuticals during the first quarter worth $217,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Madrigal Pharmaceuticals by 0.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 151,251 shares of the biopharmaceutical company's stock valued at $50,099,000 after acquiring an additional 505 shares during the last quarter. Hedge funds and other institutional investors own 98.50% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Cowen reaffirmed a "buy" rating on shares of Madrigal Pharmaceuticals in a research report on Tuesday, August 26th. TD Cowen boosted their price target on Madrigal Pharmaceuticals from $390.00 to $554.00 and gave the company a "buy" rating in a research note on Tuesday, August 26th. UBS Group reiterated a "buy" rating and issued a $523.00 price objective (up previously from $458.00) on shares of Madrigal Pharmaceuticals in a research report on Tuesday, August 12th. Canaccord Genuity Group lifted their price objective on Madrigal Pharmaceuticals from $420.00 to $428.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Finally, JMP Securities boosted their price objective on Madrigal Pharmaceuticals from $483.00 to $485.00 and gave the company a "market outperform" rating in a research report on Wednesday, August 20th. Nine analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $471.13.

Madrigal Pharmaceuticals Price Performance

Shares of MDGL stock traded up $1.68 during trading hours on Friday, hitting $432.89. The company had a trading volume of 281,201 shares, compared to its average volume of 394,410. Madrigal Pharmaceuticals, Inc. has a 12 month low of $200.63 and a 12 month high of $443.00. The company has a debt-to-equity ratio of 0.17, a quick ratio of 4.78 and a current ratio of 5.11. The firm's fifty day moving average is $350.02 and its 200 day moving average is $323.03. The firm has a market capitalization of $9.61 billion, a price-to-earnings ratio of -33.69 and a beta of -1.02.

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

Insider Buying and Selling at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, Director Kenneth Bate sold 10,000 shares of the business's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $365.20, for a total transaction of $3,652,000.00. Following the sale, the director directly owned 2,627 shares of the company's stock, valued at $959,380.40. The trade was a 79.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO William John Sibold sold 7,616 shares of the stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $400.18, for a total value of $3,047,770.88. Following the transaction, the chief executive officer directly owned 109,753 shares of the company's stock, valued at $43,920,955.54. This trade represents a 6.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have acquired 165,683 shares of company stock worth $61,921,142 and have sold 301,740 shares worth $109,461,331. 21.50% of the stock is owned by corporate insiders.

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.