Jupiter Topco LLC Buys Shares of 1,936,099 Madrigal Pharmaceuticals, Inc. $MDGL

Key Points

• Jupiter Topco LLC acquired 1,936,099 shares of Madrigal Pharmaceuticals during the second quarter, valued at approximately $1.04 billion and representing an 8.38% stake.
• Madrigal reported quarterly revenue of $364.25 million, up 71.2% year over year, and an adjusted loss of $1.99 per share that beat analyst expectations.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $699.64, compared with the stock’s reported price of $512.16.

Jupiter Topco LLC purchased a new stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 1,936,099 shares of the biopharmaceutical company's stock, valued at approximately $1,039,650,000. Jupiter Topco LLC owned about 8.38% of Madrigal Pharmaceuticals as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of MDGL. Persistent Asset Partners Ltd bought a new position in shares of Madrigal Pharmaceuticals in the 2nd quarter worth approximately $29,000. Global Retirement Partners LLC bought a new position in Madrigal Pharmaceuticals during the second quarter valued at $34,000. Kemnay Advisory Services Inc. purchased a new position in shares of Madrigal Pharmaceuticals in the 4th quarter worth approximately $39,000. Quarry LP purchased a new position in shares of Madrigal Pharmaceuticals during the 3rd quarter worth about $39,000. Finally, Accent Capital Management LLC raised its holdings in shares of Madrigal Pharmaceuticals by 64.9% in the fourth quarter. Accent Capital Management LLC now owns 94 shares of the biopharmaceutical company's stock worth $55,000 after buying an additional 37 shares during the period. Institutional investors own 98.50% of the company's stock.

Insider Transactions at Madrigal Pharmaceuticals

In related news, insider David Soergel sold 1,042 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $495.74, for a total transaction of $516,561.08. Following the completion of the transaction, the insider owned 10,033 shares of the company's stock, valued at approximately $4,973,759.42. This trade represents a 9.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Shannon T. Kelley sold 664 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $514.97, for a total transaction of $341,940.08. Following the completion of the sale, the general counsel owned 11,474 shares of the company's stock, valued at $5,908,765.78. This trade represents a 5.47% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 17.60% of the stock is owned by company insiders.

Madrigal Pharmaceuticals Stock Performance

NASDAQ MDGL opened at $512.16 on Wednesday. The stock has a market cap of $11.83 billion, a PE ratio of -39.73 and a beta of -1.01. The company has a current ratio of 3.20, a quick ratio of 2.94 and a debt-to-equity ratio of 0.65. Madrigal Pharmaceuticals, Inc. has a twelve month low of $393.61 and a twelve month high of $615.00. The stock has a fifty day simple moving average of $524.86 and a 200-day simple moving average of $501.54.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported ($1.99) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.68) by $0.69. Madrigal Pharmaceuticals had a negative net margin of 25.32% and a negative return on equity of 56.65%. The firm had revenue of $364.25 million for the quarter, compared to analyst estimates of $352.13 million. During the same period in the previous year, the firm earned ($1.90) EPS. Madrigal Pharmaceuticals's revenue was up 71.2% on a year-over-year basis. Equities analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -7.03 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MDGL. Wolfe Research raised shares of Madrigal Pharmaceuticals from a "peer perform" rating to an "outperform" rating and set a $605.00 price target for the company in a research note on Tuesday, August 4th. HC Wainwright reaffirmed a "buy" rating on shares of Madrigal Pharmaceuticals in a research report on Friday, July 31st. UBS Group reiterated a "buy" rating on shares of Madrigal Pharmaceuticals in a research note on Friday, July 31st. Citigroup reissued an "outperform" rating on shares of Madrigal Pharmaceuticals in a research note on Friday, July 17th. Finally, Piper Sandler reissued an "overweight" rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, June 24th. Fifteen research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $699.64.

Madrigal Pharmaceuticals Company 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.

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