Knights of Columbus Asset Advisors LLC Increases Stock Position in Madrigal Pharmaceuticals, Inc. $MDGL

Key Points

• Knights of Columbus Asset Advisors LLC increased its stake in Madrigal Pharmaceuticals by 19.0%, now holding 4,603 shares valued at approximately $1.39 million.
• Insider activity includes a significant purchase of 68,618 shares by Director Bros. Advisors Lp Baker, totaling nearly $25 million, highlighting strong insider confidence in the company.
• Madrigal Pharmaceuticals reported a 1357.5% increase in quarterly revenue over the same period last year, amounting to $212.80 million, significantly exceeding analyst estimates.

Knights of Columbus Asset Advisors LLC raised its holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 19.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,603 shares of the biopharmaceutical company's stock after purchasing an additional 736 shares during the quarter. Knights of Columbus Asset Advisors LLC's holdings in Madrigal Pharmaceuticals were worth $1,393,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Rhumbline Advisers boosted its holdings in Madrigal Pharmaceuticals by 7.9% in the 1st quarter. Rhumbline Advisers now owns 26,364 shares of the biopharmaceutical company's stock valued at $8,733,000 after purchasing an additional 1,924 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Madrigal Pharmaceuticals by 131.4% during the 1st quarter. GAMMA Investing LLC now owns 118 shares of the biopharmaceutical company's stock valued at $39,000 after acquiring an additional 67 shares during the period. XTX Topco Ltd acquired a new stake in shares of Madrigal Pharmaceuticals during the 1st quarter valued at approximately $392,000. Park Avenue Securities LLC acquired a new stake in shares of Madrigal Pharmaceuticals during the 1st quarter valued at approximately $217,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Madrigal Pharmaceuticals by 0.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 151,251 shares of the biopharmaceutical company's stock valued at $50,099,000 after acquiring an additional 505 shares during the period. Hedge funds and other institutional investors own 98.50% of the company's stock.

Madrigal Pharmaceuticals Trading Down 0.2%

Shares of Madrigal Pharmaceuticals stock opened at $442.31 on Tuesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 5.11 and a quick ratio of 4.78. Madrigal Pharmaceuticals, Inc. has a 1 year low of $200.63 and a 1 year high of $463.63. The company has a market capitalization of $9.82 billion, a P/E ratio of -34.42 and a beta of -1.02. The business has a 50 day moving average price of $403.65 and a 200 day moving average price of $338.18.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported ($1.90) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.48) by $1.58. The firm had revenue of $212.80 million during the quarter, compared to the consensus estimate of $158.94 million. Madrigal Pharmaceuticals had a negative return on equity of 38.38% and a negative net margin of 54.68%.The company's quarterly revenue was up 1357.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($7.10) EPS. Sell-side analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on MDGL. Cowen reiterated a "buy" rating on shares of Madrigal Pharmaceuticals in a research report on Tuesday, August 26th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Madrigal Pharmaceuticals in a research report on Saturday, September 27th. HC Wainwright began coverage on shares of Madrigal Pharmaceuticals in a research report on Thursday, September 4th. They set a "buy" rating and a $500.00 price target for the company. TD Cowen lifted their price target on shares of Madrigal Pharmaceuticals from $390.00 to $554.00 and gave the company a "buy" rating in a research report on Tuesday, August 26th. Finally, B. Riley lifted their price objective on Madrigal Pharmaceuticals from $460.00 to $560.00 and gave the stock a "buy" rating in a research report on Monday, September 29th. Nine equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Madrigal Pharmaceuticals has a consensus rating of "Moderate Buy" and a consensus target price of $495.88.

Insider Buying and Selling

In other Madrigal Pharmaceuticals news, Director Bros. Advisors Lp Baker purchased 68,618 shares of the business's stock in a transaction on Monday, August 18th. The stock was bought at an average cost of $364.04 per share, for a total transaction of $24,979,696.72. Following the acquisition, the director owned 1,859,091 shares of the company's stock, valued at approximately $676,783,487.64. The trade was a 3.83% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Rebecca Taub sold 43,263 shares of the business's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $355.69, for a total value of $15,388,216.47. Following the completion of the transaction, the director owned 461,044 shares of the company's stock, valued at $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. In the last three months, insiders acquired 165,683 shares of company stock worth $61,921,142 and sold 309,019 shares worth $112,705,072. 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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