Commonwealth Equity Services LLC Increases Stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Commonwealth Equity Services LLC lifted its position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 116.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,068 shares of the biopharmaceutical company’s stock after acquiring an additional 1,114 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Madrigal Pharmaceuticals were worth $579,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Avoro Capital Advisors LLC lifted its stake in Madrigal Pharmaceuticals by 2.9% in the first quarter. Avoro Capital Advisors LLC now owns 1,944,444 shares of the biopharmaceutical company’s stock worth $519,244,000 after purchasing an additional 55,556 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Madrigal Pharmaceuticals by 6.0% during the 1st quarter. Vanguard Group Inc. now owns 1,668,806 shares of the biopharmaceutical company’s stock worth $445,638,000 after acquiring an additional 94,064 shares during the last quarter. Paulson & CO. Inc. boosted its holdings in Madrigal Pharmaceuticals by 121.1% during the 4th quarter. Paulson & CO. Inc. now owns 1,105,741 shares of the biopharmaceutical company’s stock valued at $255,846,000 after acquiring an additional 605,741 shares during the period. RTW Investments LP grew its position in Madrigal Pharmaceuticals by 163.4% in the 4th quarter. RTW Investments LP now owns 815,191 shares of the biopharmaceutical company’s stock valued at $188,619,000 after acquiring an additional 505,706 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in Madrigal Pharmaceuticals by 106.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 803,213 shares of the biopharmaceutical company’s stock valued at $214,491,000 after acquiring an additional 414,484 shares during the last quarter. 98.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, CEO William John Sibold sold 6,363 shares of Madrigal Pharmaceuticals stock in a transaction on Monday, September 9th. The shares were sold at an average price of $243.83, for a total value of $1,551,490.29. Following the transaction, the chief executive officer now directly owns 55,887 shares of the company’s stock, valued at $13,626,927.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 23.92% of the stock is currently owned by corporate insiders.

Madrigal Pharmaceuticals Stock Performance

Shares of MDGL stock opened at $233.49 on Friday. The company’s 50 day moving average is $255.47 and its 200 day moving average is $250.09. The company has a quick ratio of 8.67, a current ratio of 8.72 and a debt-to-equity ratio of 0.14. The firm has a market cap of $5.07 billion, a price-to-earnings ratio of -10.11 and a beta of -0.43. Madrigal Pharmaceuticals, Inc. has a 52-week low of $119.76 and a 52-week high of $299.98.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($7.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($7.55) by $0.45. The company had revenue of $14.64 million for the quarter, compared to the consensus estimate of $4.25 million. Madrigal Pharmaceuticals’s revenue for the quarter was up 146280.0% compared to the same quarter last year. During the same period in the previous year, the business earned ($4.69) EPS. On average, sell-side analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -27.67 EPS for the current fiscal year.

Analyst Ratings Changes

MDGL has been the subject of several research analyst reports. Wolfe Research assumed coverage on Madrigal Pharmaceuticals in a research report on Tuesday, June 11th. They set an “outperform” rating and a $382.00 target price for the company. Evercore ISI decreased their price objective on shares of Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Cantor Fitzgerald restated a “neutral” rating on shares of Madrigal Pharmaceuticals in a research note on Tuesday, July 23rd. Citigroup reduced their target price on shares of Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Finally, StockNews.com upgraded Madrigal Pharmaceuticals to a “sell” rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Madrigal Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $343.83.

About Madrigal Pharmaceuticals

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.