Strs Ohio Makes New $629,000 Investment in Madrigal Pharmaceuticals, Inc. $MDGL

Strs Ohio 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 Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,900 shares of the biopharmaceutical company's stock, valued at approximately $629,000.

Several other large investors have also bought and sold shares of the company. VSM Wealth Advisory LLC acquired a new position in Madrigal Pharmaceuticals during the first quarter worth $25,000. Accent Capital Management LLC bought a new position in shares of Madrigal Pharmaceuticals in the first quarter valued at approximately $25,000. Summit Securities Group LLC purchased a new stake in shares of Madrigal Pharmaceuticals during the first quarter worth $33,000. Farther Finance Advisors LLC grew its stake in shares of Madrigal Pharmaceuticals by 825.0% during the first quarter. Farther Finance Advisors LLC now owns 111 shares of the biopharmaceutical company's stock valued at $36,000 after buying an additional 99 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Madrigal Pharmaceuticals by 131.4% during 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. Institutional investors own 98.50% of the company's stock.

Insiders Place Their Bets

In related news, Director Kenneth Bate sold 10,000 shares of the firm's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $365.20, for a total transaction of $3,652,000.00. Following the sale, the director directly owned 2,627 shares of the company's stock, valued at $959,380.40. This trade represents a 79.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William John Sibold sold 7,616 shares of Madrigal Pharmaceuticals stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $400.18, for a total value of $3,047,770.88. Following the completion of the sale, the chief executive officer directly owned 109,753 shares of the company's stock, valued at $43,920,955.54. The trade was a 6.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 165,683 shares of company stock valued at $61,921,142 and have sold 309,019 shares valued at $112,705,072. 21.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. JMP Securities lifted their price objective on shares of Madrigal Pharmaceuticals from $483.00 to $485.00 and gave the company a "market outperform" rating in a report on Wednesday, August 20th. UBS Group reaffirmed a "buy" rating and set a $523.00 price target (up previously from $458.00) on shares of Madrigal Pharmaceuticals in a research report on Tuesday, August 12th. HC Wainwright began coverage on shares of Madrigal Pharmaceuticals in a report on Thursday, September 4th. They issued a "buy" rating and a $500.00 target price for the company. Canaccord Genuity Group upped their price target on Madrigal Pharmaceuticals from $428.00 to $526.00 and gave the company a "buy" rating in a research note on Friday, September 12th. Finally, TD Cowen lifted their target price on Madrigal Pharmaceuticals from $390.00 to $554.00 and gave the company a "buy" rating in a research report on Tuesday, August 26th. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Madrigal Pharmaceuticals has an average rating of "Moderate Buy" and a consensus target price of $483.38.

Madrigal Pharmaceuticals Stock Down 0.2%

Shares of NASDAQ MDGL opened at $439.93 on Friday. The company has a current ratio of 5.11, a quick ratio of 4.78 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $9.77 billion, a PE ratio of -34.24 and a beta of -1.02. The firm's 50-day moving average is $376.82 and its 200-day moving average is $330.13. Madrigal Pharmaceuticals, Inc. has a 1 year low of $200.63 and a 1 year high of $457.16.

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, topping analysts' consensus estimates of ($3.48) by $1.58. The firm had revenue of $212.80 million for the quarter, compared to analyst estimates of $158.94 million. Madrigal Pharmaceuticals had a negative net margin of 54.68% and a negative return on equity of 38.38%. The business's revenue was up 1357.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($7.10) EPS. Equities analysts expect 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.

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