Nuveen LLC Makes New Investment in Madrigal Pharmaceuticals, Inc. $MDGL

Key Points

• Nuveen LLC has acquired a new stake in Madrigal Pharmaceuticals, purchasing 49,922 shares valued at approximately $16.5 million, representing about 0.22% of the company's total shares.
• During the same period, several institutional investors, including Woodline Partners LP and Hood River Capital Management LLC, significantly increased their holdings, showcasing a growing interest in Madrigal Pharmaceuticals.
• Madrigal Pharmaceuticals reported earnings per share of ($1.90), exceeding analyst expectations, with quarterly revenue soaring 1357.5% year-over-year, signaling strong performance amid significant market interest.

Nuveen LLC bought a new position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 49,922 shares of the biopharmaceutical company's stock, valued at approximately $16,536,000. Nuveen LLC owned 0.22% of Madrigal Pharmaceuticals as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. 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. GAMMA Investing LLC grew its stake in Madrigal Pharmaceuticals by 131.4% in the first quarter. GAMMA Investing LLC now owns 118 shares of the biopharmaceutical company's stock valued at $39,000 after purchasing an additional 67 shares during the last quarter. XTX Topco Ltd bought a new position in Madrigal Pharmaceuticals in the first quarter worth about $392,000. Cerity Partners LLC purchased a new position in shares of Madrigal Pharmaceuticals in the 4th quarter worth approximately $453,000. Finally, Park Avenue Securities LLC purchased a new stake in Madrigal Pharmaceuticals during the first quarter valued at approximately $217,000. Institutional investors own 98.50% of the company's stock.

Insider Activity at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, Director Bros. Advisors Lp Baker purchased 68,618 shares of Madrigal Pharmaceuticals stock in a transaction on Monday, August 18th. The stock was bought at an average cost of $364.04 per share, with a total value of $24,979,696.72. Following the transaction, the director owned 1,859,091 shares of the company's stock, valued at $676,783,487.64. This represents a 3.83% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Paul A. Friedman sold 129,172 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $370.24, for a total transaction of $47,824,641.28. Following the transaction, the director directly owned 187,164 shares of the company's stock, valued at $69,295,599.36. This represents a 40.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders bought 165,683 shares of company stock worth $61,921,142 and sold 301,740 shares worth $109,461,331. 21.50% of the stock is owned by corporate insiders.

Madrigal Pharmaceuticals Stock Performance

MDGL traded up $7.59 on Friday, reaching $414.68. 465,908 shares of the stock were exchanged, compared to its average volume of 461,278. 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 company's 50-day moving average price is $321.05 and its 200 day moving average price is $316.59. The firm has a market capitalization of $9.21 billion, a PE ratio of -32.27 and a beta of -1.02. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $200.63 and a fifty-two week high of $419.99.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last announced 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. Madrigal Pharmaceuticals had a negative return on equity of 38.38% and a negative net margin of 54.68%.The firm had revenue of $212.80 million during the quarter, compared to analysts' expectations of $158.94 million. During the same period last year, the business posted ($7.10) earnings per share. The company's revenue for the quarter was up 1357.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. B. Riley reissued a "buy" rating and set a $460.00 target price (up previously from $422.00) on shares of Madrigal Pharmaceuticals in a research report on Friday, May 2nd. JMP Securities increased their target price on shares of Madrigal Pharmaceuticals from $483.00 to $485.00 and gave the company a "market outperform" rating in a research report on Wednesday. UBS Group reissued a "buy" rating and set a $523.00 target price (up previously from $458.00) on shares of Madrigal Pharmaceuticals in a research report on Tuesday, August 12th. Canaccord Genuity Group increased their target price on shares of Madrigal Pharmaceuticals from $420.00 to $428.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Finally, Wall Street Zen raised shares of Madrigal Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Monday, May 5th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, Madrigal Pharmaceuticals has an average rating of "Moderate Buy" and an average target price of $445.71.

Madrigal Pharmaceuticals 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.