Mutual of America Capital Management LLC Acquires 1,046 Shares of Madrigal Pharmaceuticals, Inc. $MDGL

Key Points

• Mutual of America Capital Management LLC increased its holdings in Madrigal Pharmaceuticals by 9.3%, acquiring an additional 1,046 shares, bringing its total ownership to approximately 12,309 shares valued at $3.7 million.
• Recent insider activity includes the sale of 1,304 shares by General Counsel Shannon T. Kelley, resulting in a 12.45% decrease in their position, while Director Bros. Advisors Lp Baker acquired 59,901 shares, representing a 3.17% increase in ownership.
• Madrigal Pharmaceuticals reported a significant year-over-year revenue increase of 1357.5% in its latest quarterly earnings, achieving $212.8 million compared to analyst estimates of $158.94 million.

Mutual of America Capital Management LLC lifted its holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 9.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,309 shares of the biopharmaceutical company's stock after acquiring an additional 1,046 shares during the period. Mutual of America Capital Management LLC owned approximately 0.06% of Madrigal Pharmaceuticals worth $3,725,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC raised its position in shares of Madrigal Pharmaceuticals by 131.4% in the 1st quarter. GAMMA Investing LLC now owns 118 shares of the biopharmaceutical company's stock worth $39,000 after acquiring an additional 67 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Madrigal Pharmaceuticals in the 1st quarter worth about $392,000. Rhumbline Advisers raised its position in shares of Madrigal Pharmaceuticals by 7.9% in the 1st quarter. Rhumbline Advisers now owns 26,364 shares of the biopharmaceutical company's stock worth $8,733,000 after acquiring an additional 1,924 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Madrigal Pharmaceuticals by 0.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 151,251 shares of the biopharmaceutical company's stock worth $50,099,000 after acquiring an additional 505 shares in the last quarter. Finally, EP Wealth Advisors LLC bought a new position in shares of Madrigal Pharmaceuticals in the 1st quarter worth about $200,000. 98.50% of the stock is owned by institutional investors.

Insider Activity

In other Madrigal Pharmaceuticals news, General Counsel Shannon T. Kelley sold 1,304 shares of the business's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $367.81, for a total transaction of $479,624.24. Following the completion of the sale, the general counsel directly owned 9,173 shares of the company's stock, valued at approximately $3,373,921.13. The trade was a 12.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Bros. Advisors Lp Baker acquired 59,901 shares of the firm's stock in a transaction on Wednesday, August 20th. The shares were bought at an average cost of $385.16 per share, with a total value of $23,071,469.16. Following the completion of the acquisition, the director directly owned 1,947,968 shares in the company, valued at approximately $750,279,354.88. This represents a 3.17% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders purchased 165,683 shares of company stock worth $61,921,142 and sold 248,642 shares worth $91,388,103. Company insiders own 21.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MDGL. B. Riley boosted their target price on Madrigal Pharmaceuticals from $460.00 to $560.00 and gave the company a "buy" rating in a research report on Monday, September 29th. HC Wainwright began coverage on Madrigal Pharmaceuticals in a research report on Thursday, September 4th. They issued a "buy" rating and a $500.00 target price for the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, October 8th. Canaccord Genuity Group boosted their target price on Madrigal Pharmaceuticals from $428.00 to $526.00 and gave the company a "buy" rating in a research report on Friday, September 12th. Finally, TD Cowen boosted their target price on Madrigal Pharmaceuticals from $390.00 to $554.00 and gave the company a "buy" rating in a research report on Tuesday, August 26th. Eleven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Madrigal Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus price target of $532.70.

Madrigal Pharmaceuticals Stock Performance

Shares of MDGL opened at $423.87 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 4.78 and a current ratio of 5.11. The stock has a 50 day moving average price of $429.67 and a two-hundred day moving average price of $347.24. The firm has a market capitalization of $9.41 billion, a P/E ratio of -32.99 and a beta of -1.02. Madrigal Pharmaceuticals, Inc. has a 52 week low of $201.22 and a 52 week high of $463.63.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported ($1.90) EPS for the quarter, topping analysts' consensus estimates of ($3.48) by $1.58. The firm had revenue of $212.80 million during the quarter, compared to analyst estimates 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 revenue for the quarter was up 1357.5% on a year-over-year basis. During the same period in the previous year, the company posted ($7.10) EPS. Equities analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

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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