Affinity Asset Advisors LLC Has $26.50 Million Stake in Madrigal Pharmaceuticals, Inc. $MDGL

Key Points

• Afinity Asset Advisors LLC has reduced its stake in Madrigal Pharmaceuticals by 3%, now holding 80,000 shares worth approximately $26.50 million, making it the firm's 8th largest investment.
• Several hedge funds have increased their holdings in Madrigal Pharmaceuticals, with increases reported by Comerica Bank, Groupama Asset Management, and University of Wisconsin Foundation.
• Analysts have set bullish price targets for Madrigal Pharmaceuticals, with UBS Group raising its target to $523.00 and TD Cowen setting a target of $554.00, indicating strong market confidence.

Affinity Asset Advisors LLC decreased its holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 3.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 80,000 shares of the biopharmaceutical company's stock after selling 2,500 shares during the quarter. Madrigal Pharmaceuticals makes up 2.5% of Affinity Asset Advisors LLC's investment portfolio, making the stock its 8th biggest holding. Affinity Asset Advisors LLC owned approximately 0.36% of Madrigal Pharmaceuticals worth $26,498,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of MDGL. VSM Wealth Advisory LLC bought a new stake in shares of Madrigal Pharmaceuticals in the first quarter worth $25,000. Accent Capital Management LLC acquired a new position in Madrigal Pharmaceuticals in the first quarter valued at $25,000. Summit Securities Group LLC acquired a new position in Madrigal Pharmaceuticals in the first quarter valued at $33,000. Farther Finance Advisors LLC lifted its holdings in Madrigal Pharmaceuticals by 825.0% in the first 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. Finally, GAMMA Investing LLC lifted its holdings in Madrigal Pharmaceuticals by 131.4% in the first quarter. GAMMA Investing LLC now owns 118 shares of the biopharmaceutical company's stock valued at $39,000 after buying an additional 67 shares during the period. Institutional investors own 98.50% of the company's stock.

Madrigal Pharmaceuticals Stock Up 2.8%

Shares of NASDAQ MDGL traded up $12.11 during trading on Thursday, hitting $437.17. 288,114 shares of the company traded hands, compared to its average volume of 468,894. The business's fifty day moving average is $332.43 and its 200 day moving average is $319.22. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $200.63 and a fifty-two week high of $438.30. The firm has a market capitalization of $9.71 billion, a price-to-earnings ratio of -34.02 and a beta of -1.02. The company has a debt-to-equity ratio of 0.17, a quick ratio of 4.78 and a current ratio of 5.11.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported ($1.90) earnings per share 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 firm had revenue of $212.80 million for the quarter, compared to analyst estimates of $158.94 million. During the same quarter in the prior year, the business earned ($7.10) earnings per share. The business's quarterly revenue was up 1357.5% compared to the same quarter last year. Equities research analysts predict that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. UBS Group restated a "buy" rating and issued a $523.00 target price (up previously from $458.00) on shares of Madrigal Pharmaceuticals in a report on Tuesday, August 12th. Wall Street Zen upgraded shares of Madrigal Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Monday, May 5th. Cowen restated a "buy" rating on shares of Madrigal Pharmaceuticals in a report on Tuesday. Canaccord Genuity Group boosted their target price 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. Finally, JMP Securities boosted their target price on shares of Madrigal Pharmaceuticals from $483.00 to $485.00 and gave the company a "market outperform" rating in a report on Wednesday, August 20th. Nine equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $459.25.

Insider Activity

In other news, Director Rebecca Taub sold 43,263 shares of the company's stock in a transaction dated 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 transaction, the director owned 461,044 shares in the company, valued at approximately $163,988,740.36. This represents a 8.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kenneth Bate sold 10,000 shares of the company'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 transaction, the director owned 2,627 shares in the company, valued at $959,380.40. This represents a 79.20% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have acquired 165,683 shares of company stock valued at $61,921,142 and have sold 301,740 shares valued at $109,461,331. 21.50% of the stock is currently owned by company insiders.

Madrigal Pharmaceuticals Company 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.