Entropy Technologies LP Makes New $365,000 Investment in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Key Points

• Entropy Technologies LP has made a new investment in Madrigal Pharmaceuticals, purchasing 1,102 shares valued at approximately $365,000.
• Madrigal Pharmaceuticals reported earnings of ($1.90) EPS for the last quarter, exceeding analysts' expectations by $1.58, with quarterly revenue increasing by 1357.5% year-over-year.
• Institutional investors control 98.50% of Madrigal's stock, with notable recent increases in stakes from firms such as LPL Financial and Wells Fargo.

Entropy Technologies LP bought a new position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,102 shares of the biopharmaceutical company's stock, valued at approximately $365,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. LPL Financial LLC lifted its stake in shares of Madrigal Pharmaceuticals by 10.1% in the fourth quarter. LPL Financial LLC now owns 5,220 shares of the biopharmaceutical company's stock worth $1,611,000 after buying an additional 480 shares in the last quarter. Wells Fargo & Company MN lifted its stake in Madrigal Pharmaceuticals by 19.1% in the 4th quarter. Wells Fargo & Company MN now owns 34,923 shares of the biopharmaceutical company's stock worth $10,776,000 after purchasing an additional 5,604 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Madrigal Pharmaceuticals by 2.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 15,001 shares of the biopharmaceutical company's stock worth $4,629,000 after purchasing an additional 334 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of Madrigal Pharmaceuticals by 120.2% in the fourth quarter. Russell Investments Group Ltd. now owns 1,482 shares of the biopharmaceutical company's stock valued at $457,000 after purchasing an additional 809 shares in the last quarter. Finally, Cerity Partners LLC acquired a new stake in shares of Madrigal Pharmaceuticals in the fourth quarter valued at approximately $453,000. Institutional investors and hedge funds own 98.50% of the company's stock.

Madrigal Pharmaceuticals Price Performance

Shares of MDGL opened at $373.46 on Thursday. The firm has a 50-day simple moving average of $306.57 and a two-hundred day simple moving average of $313.72. The stock has a market cap of $8.29 billion, a PE ratio of -29.06 and a beta of -1.02. Madrigal Pharmaceuticals, Inc. has a 1-year low of $200.63 and a 1-year high of $377.46. The company has a debt-to-equity ratio of 0.17, a current ratio of 5.11 and a quick ratio of 4.78.

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, topping analysts' consensus estimates of ($3.48) by $1.58. The firm had revenue of $212.80 million during the quarter, compared to analysts' expectations of $158.94 million. Madrigal Pharmaceuticals had a negative net margin of 54.68% and a negative return on equity of 38.38%. The firm's quarterly revenue was up 1357.5% on a year-over-year basis. During the same quarter last year, the company posted ($7.10) EPS. As a group, analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current year.

Insider Buying and Selling at Madrigal Pharmaceuticals

In related news, Director Paul A. Friedman sold 129,172 shares of the business's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $370.24, for a total value of $47,824,641.28. Following the sale, the director owned 187,164 shares in the company, valued at approximately $69,295,599.36. The trade was a 40.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Rebecca Taub sold 43,263 shares of the stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $355.69, for a total value of $15,388,216.47. Following the transaction, the director directly owned 461,044 shares in the company, valued at approximately $163,988,740.36. The trade was a 8.58% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 282,820 shares of company stock valued at $102,281,936. Company insiders own 21.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MDGL. Canaccord Genuity Group boosted their price objective on Madrigal Pharmaceuticals from $420.00 to $428.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. JMP Securities reissued a "market outperform" rating and set a $443.00 price target on shares of Madrigal Pharmaceuticals in a research report on Thursday, April 24th. B. Riley restated a "buy" rating and set a $460.00 price objective (up from $422.00) on shares of Madrigal Pharmaceuticals in a research report on Friday, May 2nd. UBS Group reiterated a "buy" rating and issued a $523.00 target price (up from $458.00) on shares of Madrigal Pharmaceuticals in a report on Tuesday. Finally, Wall Street Zen upgraded shares of Madrigal Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Monday, May 5th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $439.71.

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.

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