First National Trust Co Increases Stock Holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Key Points

• First National Trust Co has increased its stake in Madrigal Pharmaceuticals by 126.1% during the first quarter, holding 8,014 shares valued at approximately $2.65 million.
• Several analysts have issued buy ratings for Madrigal Pharmaceuticals, with price targets ranging from $420.00 to $460.00, indicating strong market confidence in the company's future performance.
• Madrigal Pharmaceuticals recently reported a surprising earnings performance with revenue of $137.25 million, exceeding analyst estimates and demonstrating resilience in their financial performance.

First National Trust Co increased its position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 126.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,014 shares of the biopharmaceutical company's stock after purchasing an additional 4,470 shares during the quarter. First National Trust Co's holdings in Madrigal Pharmaceuticals were worth $2,654,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. VSM Wealth Advisory LLC acquired a new position in shares of Madrigal Pharmaceuticals in the 1st quarter valued at approximately $25,000. Farther Finance Advisors LLC boosted its holdings in shares of 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 boosted its stake in Madrigal Pharmaceuticals by 131.4% in the first quarter. GAMMA Investing LLC now owns 118 shares of the biopharmaceutical company's stock valued at $39,000 after buying an additional 67 shares in the last quarter. First Horizon Advisors Inc. boosted its stake 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 purchasing an additional 44 shares in the last quarter. Finally, Parallel Advisors LLC grew its stake in shares of 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 buying an additional 85 shares during the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Paul A. Friedman sold 1,400 shares of the stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $350.03, for a total transaction 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. This represents a 0.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Rebecca Taub sold 1,000 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Friday, July 18th. The stock was 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 in the company, valued at $161,365,400. This trade represents a 0.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 60,377 shares of company stock valued at $21,316,969. Company insiders own 21.50% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. UBS Group increased their target price 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 boosted their target price on shares of Madrigal Pharmaceuticals from $394.00 to $420.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Wall Street Zen raised shares of Madrigal Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Monday, May 5th. B. Riley reissued a "buy" rating and issued a $460.00 price objective (up previously from $422.00) on shares of Madrigal Pharmaceuticals in a research note on Friday, May 2nd. Finally, JMP Securities reissued a "market outperform" rating and issued a $443.00 price target on shares of Madrigal Pharmaceuticals in a research note on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $420.63.

Madrigal Pharmaceuticals Price Performance

Shares of NASDAQ MDGL traded up $9.93 during mid-day trading on Monday, reaching $312.10. 262,481 shares of the company were exchanged, compared to its average volume of 369,415. Madrigal Pharmaceuticals, Inc. has a 52 week low of $200.63 and a 52 week high of $377.46. The company's 50 day moving average price is $295.25 and its 200 day moving average price is $312.01. The stock has a market capitalization of $6.93 billion, a PE ratio of -17.41 and a beta of -1.02. 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 released its earnings results on Thursday, May 1st. The biopharmaceutical company reported ($3.32) earnings per share for the quarter, topping analysts' consensus estimates of ($3.62) by $0.30. Madrigal Pharmaceuticals had a negative return on equity of 50.54% and a negative net margin of 123.38%. The company had revenue of $137.25 million during the quarter, compared to the consensus estimate of $112.79 million. During the same quarter in the previous year, the company posted ($7.38) EPS. Sell-side analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

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.