Nuveen LLC Makes New $16.54 Million 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 Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. 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 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in MDGL. Envestnet Asset Management Inc. boosted its holdings in Madrigal Pharmaceuticals by 2.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 15,001 shares of the biopharmaceutical company's stock worth $4,629,000 after buying an additional 334 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in Madrigal Pharmaceuticals by 120.2% during the fourth quarter. Russell Investments Group Ltd. now owns 1,482 shares of the biopharmaceutical company's stock worth $457,000 after buying an additional 809 shares in the last quarter. Cerity Partners LLC bought a new stake in Madrigal Pharmaceuticals during the fourth quarter worth approximately $453,000. Jump Financial LLC bought a new stake in Madrigal Pharmaceuticals during the fourth quarter worth approximately $210,000. Finally, Canada Pension Plan Investment Board bought a new stake in Madrigal Pharmaceuticals during the fourth quarter worth approximately $4,135,000. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MDGL. TD Cowen raised their price objective on shares of Madrigal Pharmaceuticals from $390.00 to $554.00 and gave the stock a "buy" rating in a research note on Tuesday. Cowen reaffirmed a "buy" rating on shares of Madrigal Pharmaceuticals in a research note on Tuesday. JMP Securities raised their price objective on shares of Madrigal Pharmaceuticals from $483.00 to $485.00 and gave the stock a "market outperform" rating in a research note on Wednesday, August 20th. UBS Group reaffirmed a "buy" rating and issued a $523.00 price objective (up previously from $458.00) on shares of Madrigal Pharmaceuticals in a research note on Tuesday, August 12th. Finally, Wall Street Zen raised shares of Madrigal Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Monday, May 5th. Nine investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $459.25.

Insider Transactions at Madrigal Pharmaceuticals

In other news, Director Paul A. Friedman sold 129,172 shares of the business's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $370.24, for a total transaction of $47,824,641.28. Following the transaction, the director owned 187,164 shares in the company, valued at approximately $69,295,599.36. The trade was a 40.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO William John Sibold sold 7,616 shares of Madrigal Pharmaceuticals stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $400.18, for a total transaction of $3,047,770.88. Following the sale, the chief executive officer owned 109,753 shares in the company, valued at approximately $43,920,955.54. This trade represents a 6.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 165,683 shares of company stock worth $61,921,142 and have sold 301,740 shares worth $109,461,331. Insiders own 21.50% of the company's stock.

Madrigal Pharmaceuticals Stock Up 3.1%

Shares of NASDAQ:MDGL traded up $12.63 during trading on Tuesday, reaching $424.86. 427,358 shares of the company traded hands, compared to its average volume of 467,391. The firm has a fifty day simple moving average of $326.50 and a 200 day simple moving average of $317.80. The firm has a market cap of $9.43 billion, a P/E ratio of -33.06 and a beta of -1.02. Madrigal Pharmaceuticals, Inc. has a 1-year low of $200.63 and a 1-year high of $426.73. 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 (NASDAQ:MDGL - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($1.90) earnings per share for the quarter, beating analysts' consensus estimates of ($3.48) by $1.58. The business had revenue of $212.80 million for the quarter, compared to the consensus estimate of $158.94 million. Madrigal Pharmaceuticals had a negative net margin of 54.68% and a negative return on equity of 38.38%. Madrigal Pharmaceuticals's revenue for the quarter was up 1357.5% on a year-over-year basis. During the same quarter last year, the firm earned ($7.10) EPS. Analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

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.