Groupama Asset Managment Purchases 9,128 Shares of Madrigal Pharmaceuticals, Inc. $MDGL

Key Points

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Groupama Asset Managment lifted its position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 37.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 33,452 shares of the biopharmaceutical company's stock after purchasing an additional 9,128 shares during the quarter. Groupama Asset Managment owned about 0.15% of Madrigal Pharmaceuticals worth $10,968,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. VSM Wealth Advisory LLC bought a new position in shares of Madrigal Pharmaceuticals in the first quarter worth $25,000. Accent Capital Management LLC bought a new position in shares of Madrigal Pharmaceuticals in the first quarter worth $25,000. Summit Securities Group LLC bought a new position in shares of Madrigal Pharmaceuticals in the first quarter worth $33,000. Farther Finance Advisors LLC increased its holdings in shares of Madrigal Pharmaceuticals by 825.0% in the first quarter. Farther Finance Advisors LLC now owns 111 shares of the biopharmaceutical company's stock worth $36,000 after purchasing an additional 99 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of 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. Institutional investors own 98.50% of the company's stock.

Analyst Upgrades and Downgrades

MDGL has been the subject of several research reports. 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 report on Wednesday, August 6th. UBS Group reiterated a "buy" rating and issued a $523.00 target price (up from $458.00) on shares of Madrigal Pharmaceuticals in a research report on Tuesday, August 12th. B. Riley reiterated a "buy" rating and issued a $460.00 target price (up from $422.00) on shares of Madrigal Pharmaceuticals in a research report on Friday, May 2nd. Wall Street Zen upgraded shares of Madrigal Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Monday, May 5th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $443.00 target price on shares of Madrigal Pharmaceuticals in a research report on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, Madrigal Pharmaceuticals currently has an average rating of "Moderate Buy" and an average price target of $439.71.

Madrigal Pharmaceuticals Stock Performance

NASDAQ MDGL opened at $391.43 on Tuesday. The company has a 50-day simple moving average of $312.58 and a two-hundred day simple moving average of $314.57. The company has a quick ratio of 4.78, a current ratio of 5.11 and a debt-to-equity ratio of 0.17. Madrigal Pharmaceuticals, Inc. has a 12-month low of $200.63 and a 12-month high of $393.76. The firm has a market cap of $8.69 billion, a price-to-earnings ratio of -30.46 and a beta of -1.02.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($1.90) earnings per share (EPS) 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 analyst estimates of $158.94 million. Madrigal Pharmaceuticals had a negative net margin of 54.68% and a negative return on equity of 38.38%. The company's revenue was up 1357.5% on a year-over-year basis. During the same period in the prior year, the business posted ($7.10) earnings per share. On average, equities analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current year.

Insider Activity

In other news, Director Kenneth Bate sold 10,000 shares of the company's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $365.20, for a total transaction of $3,652,000.00. Following the completion of the transaction, the director directly owned 2,627 shares of the company's stock, valued at approximately $959,380.40. This represents a 79.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Rebecca Taub sold 43,263 shares of the company's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $355.69, for a total transaction of $15,388,216.47. Following the transaction, the director directly owned 461,044 shares of the company's stock, valued at approximately $163,988,740.36. This trade represents a 8.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 294,124 shares of company stock valued at $106,413,560. Insiders own 21.50% of the company's stock.

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.

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