Paulson & CO. Inc. Acquires 57,523 Shares of Madrigal Pharmaceuticals, Inc. $MDGL

Key Points

• Paulson & CO. Inc. increased its stake in Madrigal Pharmaceuticals by 2.8%, making it the largest holding in their portfolio, now valued at approximately $695.4 million.
• Madrigal Pharmaceuticals reported a significant revenue increase of 1357.5% year-over-year, with quarterly earnings beating expectations at ($1.90) EPS, compared to an expected ($3.48).
• Insider trading activity included CEO William John Sibold selling 7,616 shares for approximately $3 million, while corporate insiders collectively bought 165,683 shares and sold 301,740 shares in the last quarter.

Paulson & CO. Inc. raised its stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 2.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,099,523 shares of the biopharmaceutical company's stock after purchasing an additional 57,523 shares during the period. Madrigal Pharmaceuticals accounts for about 39.8% of Paulson & CO. Inc.'s portfolio, making the stock its biggest position. Paulson & CO. Inc. owned about 9.46% of Madrigal Pharmaceuticals worth $695,425,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Rhumbline Advisers grew its holdings in Madrigal Pharmaceuticals by 7.9% during the 1st quarter. Rhumbline Advisers now owns 26,364 shares of the biopharmaceutical company's stock valued at $8,733,000 after purchasing an additional 1,924 shares during the last quarter. GAMMA Investing LLC lifted 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 worth $39,000 after purchasing an additional 67 shares during the last quarter. XTX Topco Ltd bought a new stake in Madrigal Pharmaceuticals in the first quarter worth about $392,000. Park Avenue Securities LLC bought a new stake in Madrigal Pharmaceuticals in the first quarter worth about $217,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Madrigal Pharmaceuticals by 0.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 151,251 shares of the biopharmaceutical company's stock worth $50,099,000 after buying an additional 505 shares during the period. 98.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, General Counsel Shannon T. Kelley sold 1,304 shares of the stock in a transaction 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 sale, the general counsel owned 9,173 shares of the company's stock, valued at approximately $3,373,921.13. This trade represents a 12.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bros. Advisors Lp Baker acquired 59,901 shares of the stock in a transaction dated Wednesday, August 20th. The stock was acquired at an average cost of $385.16 per share, with a total value of $23,071,469.16. Following the transaction, 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 ownership of the stock. The disclosure for this purchase can be found here. In the last three months, 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.

Analyst Ratings Changes

Several brokerages have recently weighed in on MDGL. Cowen reiterated a "buy" rating on shares of Madrigal Pharmaceuticals in a report on Tuesday, August 26th. Canaccord Genuity Group increased their price target on Madrigal Pharmaceuticals from $420.00 to $428.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. TD Cowen increased their price target on Madrigal Pharmaceuticals from $390.00 to $554.00 and gave the stock a "buy" rating in a report on Tuesday, August 26th. UBS Group reiterated a "buy" rating and issued a $523.00 price target (up from $458.00) on shares of Madrigal Pharmaceuticals in a report on Tuesday, August 12th. Finally, HC Wainwright began coverage on Madrigal Pharmaceuticals in a report on Thursday. They issued a "buy" rating and a $500.00 price target on the stock. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Madrigal Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus price target of $471.13.

Madrigal Pharmaceuticals Trading Down 0.9%

NASDAQ:MDGL traded down $4.06 during midday trading on Thursday, hitting $431.21. The stock had a trading volume of 257,728 shares, compared to its average volume of 380,707. The company has a quick ratio of 4.78, a current ratio of 5.11 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $9.57 billion, a price-to-earnings ratio of -33.56 and a beta of -1.02. The stock has a 50-day moving average of $347.38 and a 200 day moving average of $322.54. Madrigal Pharmaceuticals, Inc. has a one year low of $200.63 and a one year high of $443.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last announced its earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($1.90) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.48) by $1.58. The business had revenue of $212.80 million for the quarter, compared to analysts' expectations of $158.94 million. Madrigal Pharmaceuticals had a negative return on equity of 38.38% and a negative net margin of 54.68%.The business'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. As a group, sell-side analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current 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.