Braidwell LP Buys Shares of 183,818 Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Braidwell LP bought a new stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 183,818 shares of the biopharmaceutical company’s stock, valued at approximately $39,010,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. First Horizon Advisors Inc. lifted its holdings in Madrigal Pharmaceuticals by 1,633.3% in the 2nd quarter. First Horizon Advisors Inc. now owns 104 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 98 shares during the last quarter. Signaturefd LLC raised its stake in Madrigal Pharmaceuticals by 36.8% during the second quarter. Signaturefd LLC now owns 145 shares of the biopharmaceutical company’s stock worth $41,000 after acquiring an additional 39 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Madrigal Pharmaceuticals by 47.6% in the third quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock valued at $45,000 after buying an additional 68 shares in the last quarter. Quest Partners LLC increased its stake in shares of Madrigal Pharmaceuticals by 5,225.0% in the second quarter. Quest Partners LLC now owns 213 shares of the biopharmaceutical company’s stock valued at $60,000 after buying an additional 209 shares in the last quarter. Finally, Comerica Bank boosted its holdings in Madrigal Pharmaceuticals by 615.4% in the first quarter. Comerica Bank now owns 372 shares of the biopharmaceutical company’s stock valued at $99,000 after acquiring an additional 320 shares during the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on MDGL shares. Evercore ISI reduced their target price on Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. StockNews.com upgraded Madrigal Pharmaceuticals to a “sell” rating in a research note on Saturday, October 12th. HC Wainwright restated a “buy” rating and issued a $390.00 price target on shares of Madrigal Pharmaceuticals in a research note on Tuesday, October 22nd. Oppenheimer cut their target price on Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Finally, Cantor Fitzgerald reissued a “neutral” rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, November 20th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $347.33.

Madrigal Pharmaceuticals Stock Performance

NASDAQ MDGL opened at $331.45 on Friday. The stock’s 50-day simple moving average is $260.42 and its two-hundred day simple moving average is $257.90. Madrigal Pharmaceuticals, Inc. has a twelve month low of $168.25 and a twelve month high of $368.29. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.93 and a current ratio of 5.98.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($4.92) EPS for the quarter, topping the consensus estimate of ($6.94) by $2.02. The company had revenue of $62.18 million during the quarter, compared to analysts’ expectations of $34.60 million. During the same quarter in the prior year, the firm posted ($5.34) EPS. As a group, equities research analysts predict that Madrigal Pharmaceuticals, Inc. will post -24.08 earnings per share for the current year.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other news, CEO William John Sibold sold 6,363 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $243.83, for a total value of $1,551,490.29. Following the sale, the chief executive officer now directly owns 55,887 shares of the company’s stock, valued at $13,626,927.21. The trade was a 10.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Fred B. Craves sold 3,400 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $350.30, for a total value of $1,191,020.00. Following the completion of the transaction, the director now directly owns 14,600 shares in the company, valued at $5,114,380. This trade represents a 18.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,763 shares of company stock valued at $4,247,210. 22.80% of the stock is currently owned by corporate insiders.

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.