Braidwell LP Takes Position in Madrigal Pharmaceuticals, Inc. $MDGL

Braidwell LP bought a new position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 48,690 shares of the biopharmaceutical company’s stock, valued at approximately $16,128,000.

A number of other institutional investors have also added to or reduced their stakes in the company. VSM Wealth Advisory LLC bought a new stake in Madrigal Pharmaceuticals during the first quarter worth about $25,000. Accent Capital Management LLC purchased a new position in shares of Madrigal Pharmaceuticals during the 1st quarter valued at about $25,000. Summit Securities Group LLC purchased a new position in shares of Madrigal Pharmaceuticals during the 1st quarter valued at about $33,000. Farther Finance Advisors LLC lifted its position in Madrigal Pharmaceuticals by 825.0% in the 1st quarter. Farther Finance Advisors LLC now owns 111 shares of the biopharmaceutical company’s stock worth $36,000 after buying an additional 99 shares during the last quarter. Finally, GAMMA Investing LLC boosted 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 buying an additional 67 shares in the last quarter. Institutional investors own 98.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on MDGL. UBS Group reissued a “buy” rating and set a $523.00 price target (up from $458.00) on shares of Madrigal Pharmaceuticals in a research note on Tuesday, August 12th. JMP Securities increased their target price 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. Wall Street Zen raised shares of Madrigal Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday, May 5th. TD Cowen upped their price target on shares of Madrigal Pharmaceuticals from $390.00 to $554.00 and gave the company a “buy” rating in a research report on Tuesday, August 26th. Finally, Canaccord Genuity Group raised their price objective on Madrigal Pharmaceuticals from $420.00 to $428.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. Nine investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $459.25.

Madrigal Pharmaceuticals Trading Up 0.2%

NASDAQ:MDGL opened at $437.85 on Monday. The firm has a market capitalization of $9.72 billion, a P/E ratio of -34.07 and a beta of -1.02. 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 fifty day moving average of $335.47 and a 200 day moving average of $319.59. Madrigal Pharmaceuticals, Inc. has a 52 week low of $200.63 and a 52 week high of $439.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($1.90) EPS for the quarter, beating analysts’ consensus estimates of ($3.48) by $1.58. The business had revenue of $212.80 million during the quarter, compared to analyst estimates of $158.94 million. Madrigal Pharmaceuticals had a negative return on equity of 38.38% and a negative net margin of 54.68%.Madrigal Pharmaceuticals’s quarterly revenue was up 1357.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($7.10) EPS. On average, research analysts predict that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current year.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other news, Director Bros. Advisors Lp Baker bought 59,901 shares of the stock in a transaction dated Wednesday, August 20th. The stock was bought at an average price of $385.16 per share, for a total transaction of $23,071,469.16. Following the purchase, the director directly owned 1,947,968 shares in the company, valued at $750,279,354.88. This trade represents a 3.17% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $479,624.24. Following the completion of the transaction, 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 disclosure for this sale can be found here. In the last 90 days, insiders purchased 165,683 shares of company stock worth $61,921,142 and sold 301,740 shares worth $109,461,331. Insiders own 21.50% of the company’s stock.

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.