4,500 Shares in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Acquired by American Assets Investment Management LLC

Key Points

• American Assets Investment Management LLC has purchased a new stake in Madrigal Pharmaceuticals, acquiring 4,500 shares valued at approximately $1,491,000.
• Several institutional investors have increased their positions in Madrigal, with Prudential Financial Inc. and Franklin Resources Inc. growing their stakes by 166.2% and 340.1%, respectively, during the fourth quarter.
• Analysts have set new price targets for Madrigal Pharmaceuticals, with Canaccord Genuity raising its target from $394.00 to $420.00 and a consensus price target now standing at $420.63.

American Assets Investment Management LLC acquired a new stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,500 shares of the biopharmaceutical company's stock, valued at approximately $1,491,000.

Several other large investors also recently bought and sold shares of MDGL. Woodline Partners LP boosted its stake in Madrigal Pharmaceuticals by 110.2% in the fourth quarter. Woodline Partners LP now owns 309,117 shares of the biopharmaceutical company's stock valued at $95,384,000 after acquiring an additional 162,027 shares in the last quarter. Hood River Capital Management LLC acquired a new position in Madrigal Pharmaceuticals in the fourth quarter valued at $39,447,000. Renaissance Technologies LLC raised its holdings in shares of Madrigal Pharmaceuticals by 261.3% in the fourth quarter. Renaissance Technologies LLC now owns 160,782 shares of the biopharmaceutical company's stock valued at $49,613,000 after buying an additional 116,285 shares during the last quarter. FMR LLC raised its holdings in shares of Madrigal Pharmaceuticals by 10.8% in the fourth quarter. FMR LLC now owns 867,850 shares of the biopharmaceutical company's stock valued at $267,792,000 after buying an additional 84,305 shares during the last quarter. Finally, Vestal Point Capital LP raised its holdings in shares of Madrigal Pharmaceuticals by 216.7% in the fourth quarter. Vestal Point Capital LP now owns 95,000 shares of the biopharmaceutical company's stock valued at $29,314,000 after buying an additional 65,000 shares during the last quarter. Institutional investors and hedge funds own 98.50% of the company's stock.

Madrigal Pharmaceuticals Price Performance

Shares of NASDAQ:MDGL traded down $0.80 during trading on Wednesday, hitting $338.11. 346,511 shares of the stock were exchanged, compared to its average volume of 431,735. The company has a fifty day moving average price of $298.84 and a two-hundred day moving average price of $312.50. The company has a market cap of $7.51 billion, a PE ratio of -26.31 and a beta of -1.02. The company has a current ratio of 5.91, a quick ratio of 5.58 and a debt-to-equity ratio of 0.17. Madrigal Pharmaceuticals, Inc. has a 12-month low of $200.63 and a 12-month high of $377.46.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported ($1.90) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.48) by $1.58. The firm had revenue of $212.80 million during the quarter, compared to the consensus estimate of $158.94 million. Madrigal Pharmaceuticals had a negative return on equity of 37.72% and a negative net margin of 54.68%. The company's quarterly revenue was up 1357.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($7.10) EPS. On average, analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on MDGL shares. Wall Street Zen raised shares of Madrigal Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Monday, May 5th. Canaccord Genuity Group increased their price target on shares of Madrigal Pharmaceuticals from $420.00 to $428.00 and gave the stock a "buy" rating in a report on Wednesday. UBS Group increased their price target on shares of Madrigal Pharmaceuticals from $441.00 to $458.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. B. Riley reissued a "buy" rating and set a $460.00 price target (up from $422.00) on shares of Madrigal Pharmaceuticals in a report on Friday, May 2nd. Finally, JMP Securities reissued a "market outperform" rating and set a $443.00 price target on shares of Madrigal Pharmaceuticals in a report on Thursday, April 24th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $421.63.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, Director Rebecca Taub sold 1,000 shares of the company's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $350.00, for a total value of $350,000.00. Following the completion of the transaction, the director directly owned 461,044 shares of the company's stock, valued at $161,365,400. This represents a 0.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Paul A. Friedman sold 1,400 shares of the company's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $350.03, for a total transaction of $490,042.00. Following the completion of the sale, the director owned 187,164 shares in the company, valued at approximately $65,513,014.92. This trade represents a 0.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 60,377 shares of company stock valued at $21,316,969 over the last three months. Corporate 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.