14,557 Shares in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Acquired by Informed Momentum Co LLC

Key Points

• Informed Momentum Co LLC has invested approximately $4.82 million in Madrigal Pharmaceuticals by purchasing 14,557 shares, making it the 14th largest position in their portfolio.
• Institutional investors own 98.50% of Madrigal Pharmaceuticals, with notable investments from Nuveen LLC and Invesco Ltd. significantly increasing their stakes in the company.
• Madrigal Pharmaceuticals reported a revenue of $212.80 million for the last quarter, indicating a year-over-year increase of 1357.5%, while the company had a negative earnings per share of ($1.90).

Informed Momentum Co LLC bought a new stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 14,557 shares of the biopharmaceutical company's stock, valued at approximately $4,822,000. Madrigal Pharmaceuticals makes up 0.8% of Informed Momentum Co LLC's investment portfolio, making the stock its 14th biggest position. Informed Momentum Co LLC owned approximately 0.07% of Madrigal Pharmaceuticals as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. VSM Wealth Advisory LLC acquired a new stake in Madrigal Pharmaceuticals during the first quarter worth about $25,000. Accent Capital Management LLC acquired a new stake in Madrigal Pharmaceuticals during the first quarter worth about $25,000. Farther Finance Advisors LLC raised its stake in Madrigal Pharmaceuticals by 825.0% during the first quarter. Farther Finance Advisors LLC now owns 111 shares of the biopharmaceutical company's stock worth $36,000 after acquiring an additional 99 shares during the period. GAMMA Investing LLC raised its stake in Madrigal Pharmaceuticals by 131.4% during the first quarter. GAMMA Investing LLC now owns 118 shares of the biopharmaceutical company's stock worth $39,000 after acquiring an additional 67 shares during the period. Finally, First Horizon Advisors Inc. raised its stake in Madrigal Pharmaceuticals by 38.9% during the first quarter. First Horizon Advisors Inc. now owns 157 shares of the biopharmaceutical company's stock worth $52,000 after acquiring an additional 44 shares during the period. Institutional investors and hedge funds own 98.50% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on MDGL shares. B. Riley restated a "buy" rating and issued a $460.00 target price (up previously from $422.00) on shares of Madrigal Pharmaceuticals in a research report on Friday, May 2nd. 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. JMP Securities restated a "market outperform" rating and issued a $443.00 target price on shares of Madrigal Pharmaceuticals in a research report on Thursday, April 24th. UBS Group restated a "buy" rating and issued a $523.00 target price (up previously from $458.00) on shares of Madrigal Pharmaceuticals in a research report on Tuesday. Finally, Wall Street Zen upgraded shares of Madrigal Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Monday, May 5th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $439.71.

Insider Activity at Madrigal Pharmaceuticals

In related news, Director Paul A. Friedman sold 129,172 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $370.24, for a total transaction of $47,824,641.28. Following the completion of the sale, the director directly owned 187,164 shares in the company, valued at approximately $69,295,599.36. This trade represents a 40.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Rebecca Taub sold 43,263 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $355.69, for a total transaction of $15,388,216.47. Following the sale, the director owned 461,044 shares of the company's stock, valued at $163,988,740.36. The trade was a 8.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 282,820 shares of company stock valued at $102,281,936 over the last quarter. Insiders own 21.50% of the company's stock.

Madrigal Pharmaceuticals Price Performance

Shares of Madrigal Pharmaceuticals stock traded down $2.09 on Thursday, hitting $371.37. The company had a trading volume of 322,224 shares, compared to its average volume of 378,200. The business has a 50-day simple moving average of $308.52 and a 200-day simple moving average of $314.13. The company has a debt-to-equity ratio of 0.17, a current ratio of 5.11 and a quick ratio of 4.78. The company has a market cap of $8.24 billion, a PE ratio of -28.90 and a beta of -1.02. Madrigal Pharmaceuticals, Inc. has a 52 week low of $200.63 and a 52 week high of $377.46.

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 (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 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 business's revenue was up 1357.5% on a year-over-year basis. During the same period last year, the firm posted ($7.10) earnings per share. Research analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS 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.