M&T Bank Corp Takes Position in Madrigal Pharmaceuticals, Inc. $MDGL

Key Points

• M&T Bank Corp established a new position in Madrigal, buying 6,064 shares worth about $3.53M in Q4, and institutional investors now own roughly 98.5% of the stock with several large funds (Baker Bros., Wellington, Invesco) recently increasing their stakes.
• Madrigal reported a quarterly loss of ($2.57) EPS, missing estimates by about $2.61, while revenue of $321.1M beat expectations and rose 210.8% year-over-year, but the company remains unprofitable with negative net margin and return on equity.
• The stock trades near $512 (12‑month range $265–$615) with a $11.75B market cap; analysts' consensus is a Moderate Buy with an average price target of $685.31, though insiders have sold roughly 6,098 shares in the last 90 days.

M&T Bank Corp bought a new position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 6,064 shares of the biopharmaceutical company's stock, valued at approximately $3,531,000.

Several other large investors also recently modified their holdings of MDGL. Baker BROS. Advisors LP raised its position in Madrigal Pharmaceuticals by 8.4% during the 3rd quarter. Baker BROS. Advisors LP now owns 2,141,701 shares of the biopharmaceutical company's stock valued at $982,313,000 after purchasing an additional 165,683 shares during the last quarter. William Blair Investment Management LLC lifted its holdings in Madrigal Pharmaceuticals by 17.6% in the 3rd quarter. William Blair Investment Management LLC now owns 411,802 shares of the biopharmaceutical company's stock worth $188,877,000 after buying an additional 61,513 shares during the period. Wellington Management Group LLP grew its position in shares of Madrigal Pharmaceuticals by 5,381.2% in the 3rd quarter. Wellington Management Group LLP now owns 404,455 shares of the biopharmaceutical company's stock worth $185,507,000 after buying an additional 397,076 shares during the last quarter. Invesco Ltd. grew its position in shares of Madrigal Pharmaceuticals by 49.5% in the 3rd quarter. Invesco Ltd. now owns 299,565 shares of the biopharmaceutical company's stock worth $137,398,000 after buying an additional 99,209 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Madrigal Pharmaceuticals by 12.7% during the second quarter. Bank of America Corp DE now owns 277,221 shares of the biopharmaceutical company's stock valued at $83,898,000 after buying an additional 31,260 shares during the period. 98.50% of the stock is owned by institutional investors.

Madrigal Pharmaceuticals Stock Performance

NASDAQ MDGL opened at $512.39 on Monday. The company has a quick ratio of 3.77, a current ratio of 4.01 and a debt-to-equity ratio of 0.56. Madrigal Pharmaceuticals, Inc. has a twelve month low of $265.00 and a twelve month high of $615.00. The firm has a market capitalization of $11.75 billion, a PE ratio of -39.81 and a beta of -1.00. The stock's 50 day moving average is $479.28 and its 200 day moving average is $502.84.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last posted its quarterly earnings data on Thursday, February 19th. The biopharmaceutical company reported ($2.57) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.04 by ($2.61). The firm had revenue of $321.08 million during the quarter, compared to the consensus estimate of $310.36 million. Madrigal Pharmaceuticals had a negative return on equity of 43.76% and a negative net margin of 30.08%.Madrigal Pharmaceuticals's revenue for the quarter was up 210.8% compared to the same quarter last year. During the same quarter last year, the company posted ($2.71) EPS. Research analysts forecast that Madrigal Pharmaceuticals, Inc. will post -5.22 earnings per share for the current fiscal year.

Insider Transactions at Madrigal Pharmaceuticals

In related news, insider Carole Huntsman sold 419 shares of the business's stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $431.94, for a total transaction of $180,982.86. Following the sale, the insider owned 12,692 shares of the company's stock, valued at $5,482,182.48. The trade was a 3.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Shannon T. Kelley sold 360 shares of the company's stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $431.94, for a total transaction of $155,498.40. Following the completion of the sale, the general counsel owned 12,138 shares in the company, valued at approximately $5,242,887.72. This trade represents a 2.88% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 6,098 shares of company stock worth $2,626,254. 21.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on MDGL shares. Citizens Jmp upped their target price on Madrigal Pharmaceuticals from $527.00 to $745.00 and gave the company a "market outperform" rating in a report on Tuesday, January 20th. Weiss Ratings reissued a "sell (d-)" rating on shares of Madrigal Pharmaceuticals in a research report on Tuesday, April 21st. Wolfe Research set a $579.00 price objective on shares of Madrigal Pharmaceuticals in a report on Tuesday, January 6th. Bank of America dropped their target price on shares of Madrigal Pharmaceuticals from $570.00 to $529.00 and set a "neutral" rating for the company in a research report on Friday, February 20th. Finally, The Goldman Sachs Group reiterated a "buy" rating and set a $571.00 price target on shares of Madrigal Pharmaceuticals in a research report on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $685.31.

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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