Fieldview Capital Management LLC Invests $2.14 Million in Madrigal Pharmaceuticals, Inc. $MDGL

Key Points

• Fieldview Capital Management LLC bought a new stake of 4,658 shares in Madrigal Pharmaceuticals (NASDAQ:MDGL), valued at approximately $2.14 million during the third quarter.
• Insiders have been selling heavily — the CFO and a director sold sizable blocks (1,982 and 18,650 shares), and insiders disposed of 99,062 shares worth about $52.32 million in the last three months while still owning 21.5% of the stock.
• Madrigal reported an EPS loss of ($2.57) that missed estimates despite revenue rising 210.8% to $321.1 million; the company has a market cap near $9.94 billion and a consensus “Moderate Buy” rating with an average price target of $685.31.

Fieldview Capital Management LLC bought a new stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 4,658 shares of the biopharmaceutical company's stock, valued at approximately $2,136,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of MDGL. Mather Group LLC. acquired a new stake in Madrigal Pharmaceuticals during the 3rd quarter worth $33,000. Global Retirement Partners LLC increased its stake in Madrigal Pharmaceuticals by 221.7% in the third quarter. Global Retirement Partners LLC now owns 74 shares of the biopharmaceutical company's stock valued at $34,000 after purchasing an additional 51 shares during the period. First Horizon Corp acquired a new position in Madrigal Pharmaceuticals in the third quarter valued at $34,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Madrigal Pharmaceuticals in the third quarter valued at about $39,000. Finally, GAMMA Investing LLC boosted its stake in shares of Madrigal Pharmaceuticals by 114.3% during the third quarter. GAMMA Investing LLC now owns 90 shares of the biopharmaceutical company's stock worth $41,000 after buying an additional 48 shares during the period. Hedge funds and other institutional investors own 98.50% of the company's stock.

Insider Activity at Madrigal Pharmaceuticals

In other news, CFO Mardi Dier sold 1,982 shares of the firm's stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $430.87, for a total value of $853,984.34. Following the completion of the sale, the chief financial officer directly owned 12,490 shares of the company's stock, valued at $5,381,566.30. This trade represents a 13.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Rebecca Taub sold 18,650 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $552.15, for a total value of $10,297,597.50. Following the completion of the sale, the director owned 461,044 shares in the company, valued at approximately $254,565,444.60. This trade represents a 3.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 99,062 shares of company stock worth $52,317,727 in the last three months. 21.50% of the stock is currently owned by corporate insiders.

Madrigal Pharmaceuticals Stock Up 0.1%

Shares of NASDAQ:MDGL opened at $433.20 on Tuesday. The company has a market cap of $9.94 billion, a price-to-earnings ratio of -33.66 and a beta of -0.97. The firm's 50-day simple moving average is $489.51 and its 200-day simple moving average is $488.33. The company has a quick ratio of 3.77, a current ratio of 4.01 and a debt-to-equity ratio of 0.56. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $265.00 and a fifty-two week high of $615.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last posted its quarterly earnings results on Thursday, February 19th. The biopharmaceutical company reported ($2.57) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($2.61). The firm had revenue of $321.08 million for the quarter, compared to analysts' expectations of $310.36 million. Madrigal Pharmaceuticals had a negative return on equity of 43.76% and a negative net margin of 30.08%.The company's revenue for the quarter was up 210.8% on a year-over-year basis. During the same period in the prior year, the company earned ($2.71) earnings per share. As a group, equities research analysts predict that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on MDGL shares. TD Cowen reissued a "buy" rating on shares of Madrigal Pharmaceuticals in a report on Monday, January 12th. Wolfe Research set a $579.00 price objective on Madrigal Pharmaceuticals in a research note on Tuesday, January 6th. Truist Financial increased their price objective on Madrigal Pharmaceuticals from $580.00 to $640.00 and gave the stock a "buy" rating in a research report on Wednesday, November 19th. Bank of America lowered their target price on Madrigal Pharmaceuticals from $570.00 to $529.00 and set a "neutral" rating on the stock in a research note on Friday, February 20th. Finally, Zacks Research raised Madrigal Pharmaceuticals from a "strong sell" rating to a "hold" rating in a report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $685.31.

Madrigal Pharmaceuticals Profile

Madrigal Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the development of innovative therapies for cardiovascular, metabolic and liver diseases. The company's pipeline centers on novel, liver-directed agents designed to address significant unmet medical needs, with an emphasis on nonalcoholic steatohepatitis (NASH) and related metabolic disorders.

The lead product candidate, resmetirom (MGL-3196), is an orally administered, selective thyroid hormone receptor-β agonist in Phase 3 development for the treatment of NASH.

Want to see what other hedge funds are holding MDGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.