Madrigal Pharmaceuticals, Inc. $MDGL Shares Bought by Sei Investments Co.

Key Points

• Sei Investments Co. increased its stake in Madrigal Pharmaceuticals by 22.8%, bringing its total shares to 10,104, valued at approximately $3,162,000.
• In the latest quarterly report, Madrigal Pharmaceuticals posted a revenue increase of 1357.5% year-over-year, amounting to $212.80 million, and beat EPS estimates by $1.58.
• Several analysts have recently raised their price targets for Madrigal Pharmaceuticals, with UBS Group increasing its target from $458.00 to $523.00, reflecting a strong bullish sentiment on the stock.

Sei Investments Co. grew its holdings in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 22.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,104 shares of the biopharmaceutical company's stock after purchasing an additional 1,875 shares during the period. Sei Investments Co.'s holdings in Madrigal Pharmaceuticals were worth $3,162,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. VSM Wealth Advisory LLC acquired a new stake in shares of Madrigal Pharmaceuticals during the first quarter worth about $25,000. Accent Capital Management LLC acquired a new stake in Madrigal Pharmaceuticals during the 1st quarter worth about $25,000. Farther Finance Advisors LLC grew its position in Madrigal Pharmaceuticals by 825.0% during the 1st 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. GAMMA Investing LLC grew 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. Finally, First Horizon Advisors Inc. grew its position in shares of Madrigal Pharmaceuticals by 38.9% during the 1st quarter. First Horizon Advisors Inc. now owns 157 shares of the biopharmaceutical company's stock valued at $52,000 after acquiring an additional 44 shares during the period. Hedge funds and other institutional investors own 98.50% of the company's stock.

Madrigal Pharmaceuticals Trading Down 3.0%

Shares of MDGL stock traded down $11.88 during trading on Tuesday, hitting $379.55. 547,512 shares of the stock traded hands, compared to its average volume of 381,278. The firm has a market capitalization of $8.43 billion, a P/E ratio of -29.54 and a beta of -1.02. 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 firm's fifty day moving average price is $314.52 and its 200-day moving average price is $315.03. Madrigal Pharmaceuticals, Inc. has a 52-week low of $200.63 and a 52-week high of $393.76.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($1.90) EPS for the quarter, beating the consensus estimate of ($3.48) by $1.58. The firm had revenue of $212.80 million for 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 business's revenue for the quarter was up 1357.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($7.10) EPS. As a group, research analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on MDGL shares. Canaccord Genuity Group raised their price target on shares of Madrigal Pharmaceuticals from $420.00 to $428.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Wall Street Zen raised shares of Madrigal Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Monday, May 5th. UBS Group reaffirmed a "buy" rating and issued a $523.00 price target (up from $458.00) on shares of Madrigal Pharmaceuticals in a research note on Tuesday, August 12th. JMP Securities reaffirmed a "market outperform" rating and issued a $443.00 price target on shares of Madrigal Pharmaceuticals in a research note on Thursday, April 24th. Finally, B. Riley reaffirmed a "buy" rating and issued a $460.00 price target (up from $422.00) on shares of Madrigal Pharmaceuticals in a research note on Friday, May 2nd. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $439.71.

Insider Activity

In related news, Director Paul A. Friedman sold 129,172 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $370.24, for a total value of $47,824,641.28. Following the completion of the sale, the director owned 187,164 shares in the company, valued at approximately $69,295,599.36. This trade represents a 40.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kenneth Bate sold 10,000 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on 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 sale, the director owned 2,627 shares of the company's stock, valued at $959,380.40. This trade represents a 79.20% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 294,124 shares of company stock worth $106,413,560 in the last 90 days. 21.50% of the stock is owned by corporate insiders.

Madrigal Pharmaceuticals Company 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.