Strid Group LLC bought a new stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,500 shares of the biopharmaceutical company's stock, valued at approximately $757,000.
Several other large investors also recently added to or reduced their stakes in MDGL. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Madrigal Pharmaceuticals during the 4th quarter worth $210,000. GAMMA Investing LLC grew its holdings in shares of Madrigal Pharmaceuticals by 76,537.3% during the 1st quarter. GAMMA Investing LLC now owns 39,085 shares of the biopharmaceutical company's stock worth $12,946,000 after purchasing an additional 39,034 shares during the period. Parallel Advisors LLC grew its holdings in shares of Madrigal Pharmaceuticals by 42.7% during the 1st quarter. Parallel Advisors LLC now owns 284 shares of the biopharmaceutical company's stock worth $94,000 after purchasing an additional 85 shares during the period. Rhumbline Advisers grew its holdings in shares of Madrigal Pharmaceuticals by 7.9% during the 1st quarter. Rhumbline Advisers now owns 26,364 shares of the biopharmaceutical company's stock worth $8,733,000 after purchasing an additional 1,924 shares during the period. Finally, Park Avenue Securities LLC purchased a new position in shares of Madrigal Pharmaceuticals during the 1st quarter worth $217,000. 98.50% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
MDGL has been the subject of a number of research analyst reports. B. Riley increased their price target on Madrigal Pharmaceuticals from $460.00 to $560.00 and gave the stock a "buy" rating in a report on Monday, September 29th. UBS Group reiterated a "buy" rating and set a $523.00 price target (up from $458.00) on shares of Madrigal Pharmaceuticals in a report on Tuesday, August 12th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Madrigal Pharmaceuticals in a report on Saturday, September 27th. HC Wainwright initiated coverage on Madrigal Pharmaceuticals in a research note on Thursday, September 4th. They set a "buy" rating and a $500.00 target price on the stock. Finally, JMP Securities increased their target price on Madrigal Pharmaceuticals from $483.00 to $485.00 and gave the stock a "market outperform" rating in a research note on Wednesday, August 20th. Nine investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $495.88.
View Our Latest Research Report on MDGL
Madrigal Pharmaceuticals Price Performance
Shares of NASDAQ MDGL opened at $443.01 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. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $200.63 and a fifty-two week high of $463.63. The firm has a market capitalization of $9.83 billion, a PE ratio of -34.48 and a beta of -1.02. The stock's 50-day simple moving average is $400.69 and its 200-day simple moving average is $337.46.
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 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 business had revenue of $212.80 million for the quarter, compared to analyst estimates of $158.94 million. During the same quarter last year, the company earned ($7.10) EPS. The business's quarterly revenue was up 1357.5% on a year-over-year basis. As a group, equities research analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current fiscal year.
Insider Activity
In related news, CEO William John Sibold sold 7,616 shares of the firm's stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $400.18, for a total transaction of $3,047,770.88. Following the transaction, the chief executive officer owned 109,753 shares in the company, valued at $43,920,955.54. This trade represents a 6.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Rebecca Taub sold 43,263 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $355.69, for a total value of $15,388,216.47. Following the transaction, the director owned 461,044 shares in the company, valued at $163,988,740.36. This represents a 8.58% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 165,683 shares of company stock worth $61,921,142 and have sold 309,019 shares worth $112,705,072. 21.50% of the stock is owned by corporate insiders.
About Madrigal Pharmaceuticals
(
Free Report)
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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