Mutual of America Capital Management LLC Increases Position in Madrigal Pharmaceuticals, Inc. $MDGL

Mutual of America Capital Management LLC lifted its holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 9.3% during the second quarter, Holdings Channel.com reports. The institutional investor owned 12,309 shares of the biopharmaceutical company’s stock after acquiring an additional 1,046 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Madrigal Pharmaceuticals were worth $3,725,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MDGL. Adage Capital Partners GP L.L.C. boosted its stake in shares of Madrigal Pharmaceuticals by 860.0% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 191,609 shares of the biopharmaceutical company’s stock worth $63,467,000 after buying an additional 171,649 shares during the last quarter. MPM Bioimpact LLC purchased a new position in shares of Madrigal Pharmaceuticals in the 1st quarter worth approximately $33,260,000. Lord Abbett & CO. LLC lifted its stake in Madrigal Pharmaceuticals by 141.3% in the first quarter. Lord Abbett & CO. LLC now owns 118,024 shares of the biopharmaceutical company’s stock valued at $39,093,000 after purchasing an additional 69,107 shares during the last quarter. Federated Hermes Inc. purchased a new position in Madrigal Pharmaceuticals in the first quarter valued at approximately $19,220,000. Finally, Paulson & CO. Inc. lifted its stake in Madrigal Pharmaceuticals by 2.8% in the first quarter. Paulson & CO. Inc. now owns 2,099,523 shares of the biopharmaceutical company’s stock valued at $695,425,000 after purchasing an additional 57,523 shares during the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Wall Street Analysts Forecast Growth

MDGL has been the topic of several research analyst reports. Oppenheimer upped their price objective on Madrigal Pharmaceuticals from $500.00 to $590.00 and gave the company an “outperform” rating in a research note on Friday, October 10th. TD Cowen upped their price objective on Madrigal Pharmaceuticals from $390.00 to $554.00 and gave the company a “buy” rating in a research note on Tuesday, August 26th. Cowen reiterated a “buy” rating on shares of Madrigal Pharmaceuticals in a research note on Tuesday, August 26th. UBS Group reiterated a “buy” rating and issued a $523.00 price objective (up previously from $458.00) on shares of Madrigal Pharmaceuticals in a research note on Tuesday, August 12th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, October 8th. Eleven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Madrigal Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $532.70.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other news, General Counsel Shannon T. Kelley sold 1,304 shares of the company’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $367.81, for a total value of $479,624.24. Following the transaction, the general counsel owned 9,173 shares of the company’s stock, valued at approximately $3,373,921.13. This represents a 12.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Paul A. Friedman sold 129,172 shares of the company’s stock in a transaction on 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 transaction, the director directly owned 187,164 shares in the company, valued at approximately $69,295,599.36. The trade was a 40.83% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 165,683 shares of company stock worth $61,921,142 and have sold 248,642 shares worth $91,388,103. 21.50% of the stock is owned by insiders.

Madrigal Pharmaceuticals Trading Up 1.9%

Shares of MDGL stock opened at $423.87 on Friday. The company’s fifty day simple moving average is $429.67 and its two-hundred day simple moving average is $347.24. The company has a debt-to-equity ratio of 0.17, a current ratio of 5.11 and a quick ratio of 4.78. Madrigal Pharmaceuticals, Inc. has a 1 year low of $201.22 and a 1 year high of $463.63. The stock has a market capitalization of $9.41 billion, a price-to-earnings ratio of -32.99 and a beta of -1.02.

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

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.