Madrigal Pharmaceuticals, Inc. $MDGL Shares Acquired by TD Asset Management Inc

Key Points

• TD Asset Management Inc increased its stake in Madrigal Pharmaceuticals by 4.5%, owning approximately 23,240 shares valued at about $7.03 million.
• Insider transactions reveal that Director Bros. Advisors Lp Baker acquired 59,901 shares for about $23.07 million, while CEO William John Sibold sold 7,279 shares for approximately $3.24 million.
• Madrigal Pharmaceuticals reported a significant 1357.5% year-over-year revenue increase, bringing in $212.80 million during the last quarter despite a negative earnings per share of -$1.90.

TD Asset Management Inc lifted its stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 4.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 23,240 shares of the biopharmaceutical company's stock after purchasing an additional 1,000 shares during the quarter. TD Asset Management Inc owned about 0.10% of Madrigal Pharmaceuticals worth $7,033,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. VSM Wealth Advisory LLC acquired a new position in shares of Madrigal Pharmaceuticals during the 1st quarter worth $25,000. Accent Capital Management LLC acquired a new stake in Madrigal Pharmaceuticals in the 1st quarter valued at about $25,000. Summit Securities Group LLC acquired a new stake in Madrigal Pharmaceuticals in the 1st quarter valued at about $33,000. Farther Finance Advisors LLC grew its stake in 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 acquiring an additional 99 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in Madrigal Pharmaceuticals by 131.4% in 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 last quarter. 98.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Bros. Advisors Lp Baker acquired 59,901 shares of the stock in a transaction on Wednesday, August 20th. The stock was bought at an average price of $385.16 per share, with a total value of $23,071,469.16. Following the completion of the transaction, the director directly owned 1,947,968 shares of the company's stock, valued at $750,279,354.88. The trade was a 3.17% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO William John Sibold sold 7,279 shares of the stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $445.63, for a total transaction of $3,243,740.77. Following the completion of the sale, the chief executive officer directly owned 102,474 shares of the company's stock, valued at $45,665,488.62. This trade represents a 6.63% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 165,683 shares of company stock valued at $61,921,142 and have sold 248,642 shares valued at $91,388,103. Insiders own 21.50% of the company's stock.

Madrigal Pharmaceuticals Stock Down 0.7%

Shares of NASDAQ:MDGL opened at $438.90 on Monday. 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 52-week low of $200.63 and a 52-week high of $463.63. The company has a 50 day moving average of $424.54 and a two-hundred day moving average of $344.51. The company has a market capitalization of $9.74 billion, a price-to-earnings ratio of -34.16 and a beta of -1.02.

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, beating the consensus estimate of ($3.48) by $1.58. Madrigal Pharmaceuticals had a negative net margin of 54.68% and a negative return on equity of 38.38%. The company had revenue of $212.80 million during the quarter, compared to the consensus estimate of $158.94 million. During the same quarter last year, the company earned ($7.10) earnings per share. Madrigal Pharmaceuticals's revenue for the quarter was up 1357.5% on a year-over-year basis. As a group, analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on MDGL. HC Wainwright began coverage on shares of Madrigal Pharmaceuticals in a research note on Thursday, September 4th. They set a "buy" rating and a $500.00 price target on the stock. TD Cowen increased their price objective on shares of Madrigal Pharmaceuticals from $390.00 to $554.00 and gave the stock a "buy" rating in a report on Tuesday, August 26th. Canaccord Genuity Group increased their price objective on shares of Madrigal Pharmaceuticals from $428.00 to $526.00 and gave the stock a "buy" rating in a report on Friday, September 12th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, October 8th. Finally, Cowen reiterated a "buy" rating on shares of Madrigal Pharmaceuticals in a report on Tuesday, August 26th. Eleven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $532.70.

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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