1,154 Shares in Madrigal Pharmaceuticals, Inc. $MDGL Acquired by Peak Financial Advisors LLC

Peak Financial Advisors LLC bought a new position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,154 shares of the biopharmaceutical company’s stock, valued at approximately $529,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Adage Capital Partners GP L.L.C. increased its holdings in Madrigal Pharmaceuticals by 96.3% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 376,163 shares of the biopharmaceutical company’s stock valued at $113,842,000 after acquiring an additional 184,554 shares in the last quarter. Norges Bank acquired a new position in shares of Madrigal Pharmaceuticals in the second quarter worth $53,406,000. MPM Bioimpact LLC acquired a new position in shares of Madrigal Pharmaceuticals in the first quarter worth $33,260,000. Invesco Ltd. lifted its position in shares of Madrigal Pharmaceuticals by 50.7% in the second quarter. Invesco Ltd. now owns 200,356 shares of the biopharmaceutical company’s stock valued at $60,636,000 after acquiring an additional 67,422 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in shares of Madrigal Pharmaceuticals by 1,886.1% during the second quarter. BNP Paribas Financial Markets now owns 69,037 shares of the biopharmaceutical company’s stock valued at $20,893,000 after acquiring an additional 65,561 shares during the last quarter. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on MDGL shares. Citigroup reaffirmed an “outperform” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, November 5th. Canaccord Genuity Group lifted their price objective on Madrigal Pharmaceuticals from $526.00 to $587.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. Piper Sandler upped their target price on Madrigal Pharmaceuticals from $400.00 to $540.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. HC Wainwright raised their price target on Madrigal Pharmaceuticals from $568.00 to $620.00 and gave the stock a “buy” rating in a research note on Friday, November 21st. Finally, Bank of America upgraded Madrigal Pharmaceuticals from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $266.00 to $445.00 in a report on Monday, November 3rd. 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 company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $562.67.

Insider Activity

In other news, CFO Mardi Dier sold 4,173 shares of the firm’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $578.34, for a total value of $2,413,412.82. Following the transaction, the chief financial officer 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 legal filing with the SEC, which is available at this link. Also, CEO William John Sibold sold 2,400 shares of the company’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $575.34, for a total transaction of $1,380,816.00. Following the sale, the chief executive officer directly owned 150,074 shares of the company’s stock, valued at approximately $86,343,575.16. This trade represents a 1.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 77,056 shares of company stock worth $41,324,312. Insiders own 21.50% of the company’s stock.

Madrigal Pharmaceuticals Trading Down 1.5%

MDGL stock opened at $546.19 on Thursday. 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 market cap of $12.40 billion, a price-to-earnings ratio of -41.98 and a beta of -1.04. The business has a fifty day simple moving average of $506.70 and a 200-day simple moving average of $409.84. Madrigal Pharmaceuticals, Inc. has a 52 week low of $265.00 and a 52 week high of $605.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its earnings results on Tuesday, November 4th. The biopharmaceutical company reported ($5.08) earnings per share for the quarter, missing analysts’ consensus estimates 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%. On average, equities research analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS 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.