Earned Wealth Advisors LLC Purchases New Stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Key Points

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Earned Wealth Advisors LLC purchased a new stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,422 shares of the biopharmaceutical company's stock, valued at approximately $802,000.

Several other hedge funds have also modified their holdings of MDGL. VSM Wealth Advisory LLC acquired a new stake in shares of Madrigal Pharmaceuticals during the 1st quarter worth approximately $25,000. Farther Finance Advisors LLC lifted its holdings in Madrigal Pharmaceuticals by 825.0% in the 1st 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 lifted its holdings in 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 in the last quarter. First Horizon Advisors Inc. boosted its position in shares of Madrigal Pharmaceuticals by 38.9% during the 1st quarter. First Horizon Advisors Inc. now owns 157 shares of the biopharmaceutical company's stock valued at $52,000 after acquiring an additional 44 shares during the last quarter. Finally, Parallel Advisors LLC boosted its position in shares of Madrigal Pharmaceuticals by 42.7% during the 1st quarter. Parallel Advisors LLC now owns 284 shares of the biopharmaceutical company's stock valued at $94,000 after acquiring an additional 85 shares during the last quarter. 98.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MDGL has been the topic of several research analyst reports. B. Riley restated a "buy" rating and issued a $460.00 price objective (up from $422.00) on shares of Madrigal Pharmaceuticals in a report on Friday, May 2nd. Wall Street Zen upgraded shares of Madrigal Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Monday, May 5th. JMP Securities restated a "market outperform" rating and set a $443.00 target price on shares of Madrigal Pharmaceuticals in a research note on Thursday, April 24th. UBS Group upped their target price on shares of Madrigal Pharmaceuticals from $441.00 to $458.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Finally, Canaccord Genuity Group upped their target price on shares of Madrigal Pharmaceuticals from $420.00 to $428.00 and gave the stock a "buy" rating in a research note on Wednesday. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Madrigal Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus price target of $421.63.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other news, 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 transaction, the director owned 187,164 shares of the company's stock, valued at $65,513,014.92. This represents a 0.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction of $350,000.00. Following the transaction, the director directly owned 461,044 shares of the company's stock, valued at approximately $161,365,400. This represents a 0.22% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 60,377 shares of company stock valued at $21,316,969. Corporate insiders own 21.50% of the company's stock.

Madrigal Pharmaceuticals Stock Up 0.3%

MDGL traded up $0.99 on Thursday, reaching $339.10. The company's stock had a trading volume of 154,269 shares, compared to its average volume of 374,705. The company has a market capitalization of $7.53 billion, a price-to-earnings ratio of -26.36 and a beta of -1.02. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $200.63 and a fifty-two week high of $377.46. The stock has a 50 day moving average of $298.84 and a two-hundred day moving average of $312.50. The company has a quick ratio of 5.58, a current ratio of 5.91 and a debt-to-equity ratio of 0.17.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last posted 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. The business 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 revenue was up 1357.5% compared to the same quarter last year. During the same period in the prior year, the company earned ($7.10) earnings per share. As a group, analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current fiscal year.

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.