Marshall Wace LLP Grows Stake in Madrigal Pharmaceuticals, Inc. $MDGL

Marshall Wace LLP lifted its stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 1,868.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,119 shares of the biopharmaceutical company’s stock after purchasing an additional 52,319 shares during the quarter. Marshall Wace LLP’s holdings in Madrigal Pharmaceuticals were worth $16,681,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of MDGL. AlphaQuest LLC increased its stake in Madrigal Pharmaceuticals by 412.5% during the 2nd quarter. AlphaQuest LLC now owns 82 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 66 shares in the last quarter. Summit Securities Group LLC purchased a new stake in shares of Madrigal Pharmaceuticals during the first quarter valued at approximately $33,000. Spire Wealth Management increased its position in shares of Madrigal Pharmaceuticals by 150.0% during the second quarter. Spire Wealth Management now owns 250 shares of the biopharmaceutical company’s stock valued at $76,000 after acquiring an additional 150 shares in the last quarter. VSM Wealth Advisory LLC raised its holdings in Madrigal Pharmaceuticals by 273.3% in the 2nd quarter. VSM Wealth Advisory LLC now owns 280 shares of the biopharmaceutical company’s stock worth $85,000 after acquiring an additional 205 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC bought a new position in Madrigal Pharmaceuticals in the 2nd quarter valued at approximately $94,000. Institutional investors own 98.50% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. TD Cowen lifted their target price on Madrigal Pharmaceuticals from $390.00 to $554.00 and gave the stock a “buy” rating in a report on Tuesday, August 26th. Oppenheimer boosted their target price on Madrigal Pharmaceuticals from $600.00 to $650.00 and gave the stock an “outperform” rating in a research report on Thursday, November 20th. B. Riley upped their target price on shares of Madrigal Pharmaceuticals from $460.00 to $560.00 and gave the company a “buy” rating in a research note on Monday, September 29th. Piper Sandler lifted their price target on shares of Madrigal Pharmaceuticals from $400.00 to $540.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. Finally, Cowen restated a “buy” rating on shares of Madrigal Pharmaceuticals in a research report on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $553.50.

Insider Transactions at Madrigal Pharmaceuticals

In related news, CFO Mardi Dier sold 4,173 shares of the firm’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $578.34, for a total value of $2,413,412.82. Following the transaction, the chief financial officer directly owned 10,440 shares of the company’s stock, valued at approximately $6,037,869.60. This trade represents a 28.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William John Sibold sold 2,400 shares of the business’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $575.34, for a total value of $1,380,816.00. Following the sale, the chief executive officer directly owned 150,074 shares of the company’s stock, valued at $86,343,575.16. This represents a 1.57% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 33,606 shares of company stock worth $17,332,651 over the last three months. 21.50% of the stock is currently owned by insiders.

Madrigal Pharmaceuticals Price Performance

NASDAQ MDGL opened at $553.92 on Wednesday. Madrigal Pharmaceuticals, Inc. has a 52 week low of $265.00 and a 52 week high of $605.00. The firm has a market capitalization of $12.58 billion, a P/E ratio of -42.58 and a beta of -1.04. The company has a quick ratio of 3.26, a current ratio of 3.44 and a debt-to-equity ratio of 0.54. The company has a 50-day moving average price of $492.71 and a 200-day moving average price of $398.65.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its earnings results on Tuesday, November 4th. The biopharmaceutical company reported ($5.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.01) by ($3.07). Madrigal Pharmaceuticals had a negative net margin of 39.04% and a negative return on equity of 41.50%. Equities research analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current year.

Madrigal Pharmaceuticals Company 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.