Russell Investments Group Ltd. Has $9.80 Million Holdings in Madrigal Pharmaceuticals, Inc. $MDGL

Key Points

• Russell Investments Group Ltd. significantly increased its holdings in Madrigal Pharmaceuticals by 1,895.5%, now owning nearly 30,000 shares worth approximately $9.80 million as of the last reporting period.
• Madrigal Pharmaceuticals' stock experienced a notable 5.8% increase and has a market cap of $8.69 billion, with a current price of around $391.43.
• The company reported earnings per share of ($1.90), significantly outperforming analyst expectations, with a revenue increase of 1357.5% compared to the same quarter last year.

Russell Investments Group Ltd. lifted its position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 1,895.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,574 shares of the biopharmaceutical company's stock after acquiring an additional 28,092 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.13% of Madrigal Pharmaceuticals worth $9,796,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Woodline Partners LP raised its holdings in Madrigal Pharmaceuticals by 110.2% in the 4th quarter. Woodline Partners LP now owns 309,117 shares of the biopharmaceutical company's stock valued at $95,384,000 after buying an additional 162,027 shares during the last quarter. Rock Springs Capital Management LP lifted its holdings in shares of Madrigal Pharmaceuticals by 0.8% during the fourth quarter. Rock Springs Capital Management LP now owns 265,212 shares of the biopharmaceutical company's stock worth $81,836,000 after purchasing an additional 2,150 shares during the period. Bank of America Corp DE grew its stake in shares of Madrigal Pharmaceuticals by 1.4% in the fourth quarter. Bank of America Corp DE now owns 217,828 shares of the biopharmaceutical company's stock worth $67,215,000 after purchasing an additional 2,940 shares during the last quarter. ArrowMark Colorado Holdings LLC increased its holdings in Madrigal Pharmaceuticals by 23.3% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 199,667 shares of the biopharmaceutical company's stock valued at $61,611,000 after purchasing an additional 37,715 shares during the period. Finally, Northern Trust Corp raised its position in Madrigal Pharmaceuticals by 5.5% during the 4th quarter. Northern Trust Corp now owns 155,883 shares of the biopharmaceutical company's stock worth $48,101,000 after purchasing an additional 8,111 shares during the last quarter. Institutional investors own 98.50% of the company's stock.

Madrigal Pharmaceuticals Stock Up 5.8%

MDGL stock opened at $391.43 on Tuesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 4.78 and a current ratio of 5.11. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $200.63 and a fifty-two week high of $393.76. The stock's 50 day simple moving average is $312.58 and its 200 day simple moving average is $314.57. The company has a market cap of $8.69 billion, a P/E ratio of -30.46 and a beta of -1.02.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last issued its earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($1.90) earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $212.80 million for the quarter, compared to analysts' expectations of $158.94 million. During the same period last year, the business earned ($7.10) EPS. Madrigal Pharmaceuticals's quarterly revenue was up 1357.5% compared to the same quarter last year. On average, research analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

Insider Activity

In other Madrigal Pharmaceuticals news, Director Rebecca Taub sold 43,263 shares of Madrigal Pharmaceuticals stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $355.69, for a total transaction of $15,388,216.47. Following the transaction, the director directly owned 461,044 shares of the company's stock, valued at $163,988,740.36. The trade was a 8.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul A. Friedman sold 129,172 shares of the company's stock in a transaction dated 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 completion of the sale, the director directly owned 187,164 shares of the company's stock, valued at $69,295,599.36. The trade was a 40.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 294,124 shares of company stock worth $106,413,560 over the last 90 days. 21.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MDGL. UBS Group restated a "buy" rating and set a $523.00 price objective (up from $458.00) on shares of Madrigal Pharmaceuticals in a research report on Tuesday, August 12th. JMP Securities reaffirmed a "market outperform" rating and issued a $443.00 price objective on shares of Madrigal Pharmaceuticals in a research note on Thursday, April 24th. Wall Street Zen raised shares of Madrigal Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Monday, May 5th. B. Riley restated a "buy" rating and issued a $460.00 target price (up previously from $422.00) on shares of Madrigal Pharmaceuticals in a report on Friday, May 2nd. Finally, 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. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $439.71.

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.

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