Magnetar Financial LLC Makes New $2.04 Million Investment in Madrigal Pharmaceuticals, Inc. $MDGL

Magnetar Financial LLC acquired a new stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 6,730 shares of the biopharmaceutical company’s stock, valued at approximately $2,037,000.

Other hedge funds also recently made changes to their positions in the company. Adage Capital Partners GP L.L.C. boosted its stake in shares of Madrigal Pharmaceuticals by 860.0% in the first quarter. Adage Capital Partners GP L.L.C. now owns 191,609 shares of the biopharmaceutical company’s stock valued at $63,467,000 after purchasing an additional 171,649 shares during the period. MPM Bioimpact LLC purchased a new stake in Madrigal Pharmaceuticals during the 1st quarter worth $33,260,000. Lord Abbett & CO. LLC lifted its holdings in Madrigal Pharmaceuticals by 141.3% in the 1st quarter. Lord Abbett & CO. LLC now owns 118,024 shares of the biopharmaceutical company’s stock worth $39,093,000 after buying an additional 69,107 shares in the last quarter. Artisan Partners Limited Partnership boosted its position in Madrigal Pharmaceuticals by 46.3% in the 2nd quarter. Artisan Partners Limited Partnership now owns 201,571 shares of the biopharmaceutical company’s stock valued at $61,003,000 after buying an additional 63,833 shares during the last quarter. Finally, Federated Hermes Inc. purchased a new position in Madrigal Pharmaceuticals in the 1st quarter valued at about $19,220,000. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Price Performance

Shares of NASDAQ MDGL opened at $547.96 on Friday. The company has a current ratio of 5.11, a quick ratio of 4.78 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $12.44 billion, a price-to-earnings ratio of -42.64 and a beta of -1.04. Madrigal Pharmaceuticals, Inc. has a twelve month low of $265.00 and a twelve month high of $577.90. The business has a 50 day simple moving average of $456.96 and a 200-day simple moving average of $373.19.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings data 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 return on equity of 38.38% and a negative net margin of 54.68%. As a group, equities research analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current year.

Wall Street Analyst Weigh In

MDGL has been the topic of a number of analyst reports. Canaccord Genuity Group lifted their target price on Madrigal Pharmaceuticals from $526.00 to $587.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. TD Cowen lifted their price objective on Madrigal Pharmaceuticals from $390.00 to $554.00 and gave the stock a “buy” rating in a report on Tuesday, August 26th. Bank of America raised Madrigal Pharmaceuticals from an “underperform” rating to a “neutral” rating and upped their target price for the company from $266.00 to $445.00 in a research report on Monday, November 3rd. Cantor Fitzgerald upgraded Madrigal Pharmaceuticals from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 4th. Finally, B. Riley lifted their price target on shares of Madrigal Pharmaceuticals from $460.00 to $560.00 and gave the stock a “buy” rating in a research note on Monday, September 29th. Thirteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $553.50.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other news, CEO William John Sibold sold 7,279 shares of Madrigal Pharmaceuticals stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $445.63, for a total value of $3,243,740.77. Following the completion of the transaction, the chief executive officer directly owned 102,474 shares of the company’s stock, valued at approximately $45,665,488.62. The trade was a 6.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Carole Huntsman sold 1,958 shares of the business’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $553.11, for a total transaction of $1,082,989.38. Following the sale, the insider directly owned 10,032 shares of the company’s stock, valued at approximately $5,548,799.52. This represents a 16.33% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 34,312 shares of company stock valued at $16,782,163. Corporate insiders own 21.50% of the company’s stock.

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.