Blueshift Asset Management LLC Acquires Shares of 1,226 Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Key Points

• Blueshift Asset Management LLC invested approximately $406,000 in Madrigal Pharmaceuticals, acquiring 1,226 shares in the first quarter of the year.
• Several institutional investors have also increased their stakes in Madrigal Pharmaceuticals, with a high overall institutional ownership of 98.50%.
• Madrigal reported a loss of ($3.32) EPS for the last quarter, surpassing analysts' expectations and generating revenue of $137.25 million.

Blueshift Asset Management LLC purchased a new stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,226 shares of the biopharmaceutical company's stock, valued at approximately $406,000.

Other large investors have also recently bought and sold shares of the company. VSM Wealth Advisory LLC acquired a new position in shares of Madrigal Pharmaceuticals during the 1st quarter worth about $25,000. Farther Finance Advisors LLC increased its stake 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 purchasing an additional 99 shares in the last quarter. GAMMA Investing LLC raised 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 worth $39,000 after purchasing an additional 67 shares during the period. First Horizon Advisors Inc. increased its position in shares of Madrigal Pharmaceuticals by 38.9% in the 1st 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 in the last quarter. Finally, Parallel Advisors LLC lifted its holdings in Madrigal Pharmaceuticals by 42.7% during the first quarter. Parallel Advisors LLC now owns 284 shares of the biopharmaceutical company's stock worth $94,000 after acquiring an additional 85 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors.

Madrigal Pharmaceuticals Stock Down 0.2%

Madrigal Pharmaceuticals stock traded down $0.80 during trading hours on Wednesday, hitting $338.11. The stock had a trading volume of 346,438 shares, compared to its average volume of 376,283. The stock has a market capitalization of $7.51 billion, a P/E ratio of -18.73 and a beta of -1.02. Madrigal Pharmaceuticals, Inc. has a 12-month low of $200.63 and a 12-month high of $377.46. The company has a quick ratio of 5.58, a current ratio of 5.91 and a debt-to-equity ratio of 0.17. The stock's 50-day moving average price is $297.49 and its 200-day moving average price is $312.32.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last announced its earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($1.90) EPS for the quarter, topping analysts' consensus estimates of ($3.48) by $1.58. The company had revenue of $212.80 million for the quarter, compared to analysts' expectations of $158.94 million. Madrigal Pharmaceuticals had a negative return on equity of 50.54% and a negative net margin of 123.38%. Madrigal Pharmaceuticals's revenue for the quarter was up 1357.5% compared to the same quarter last year. During the same period last year, the firm earned ($7.10) EPS. Equities research analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current fiscal year.

Insider Activity

In related news, Director Paul A. Friedman sold 1,400 shares of Madrigal Pharmaceuticals stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $350.03, for a total value of $490,042.00. Following the completion of the sale, the director directly owned 187,164 shares in the company, valued at $65,513,014.92. The trade was a 0.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Rebecca Taub sold 1,000 shares of the firm's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $350.00, for a total transaction of $350,000.00. Following the completion of the sale, the director owned 461,044 shares in the company, valued at $161,365,400. This represents a 0.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 60,377 shares of company stock worth $21,316,969 over the last 90 days. Corporate insiders own 21.50% of the company's stock.

Wall Street Analyst Weigh In

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

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.