Park Avenue Securities LLC Has $212,000 Holdings in Madrigal Pharmaceuticals, Inc. $MDGL

Park Avenue Securities LLC boosted its holdings in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 6.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 699 shares of the biopharmaceutical company’s stock after buying an additional 43 shares during the quarter. Park Avenue Securities LLC’s holdings in Madrigal Pharmaceuticals were worth $212,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in MDGL. Paulson & CO. Inc. increased its holdings in shares of Madrigal Pharmaceuticals by 2.8% during the 1st quarter. Paulson & CO. Inc. now owns 2,099,523 shares of the biopharmaceutical company’s stock valued at $695,425,000 after acquiring an additional 57,523 shares during the last quarter. Woodline Partners LP lifted its stake in shares of Madrigal Pharmaceuticals by 2.7% in the first quarter. Woodline Partners LP now owns 317,433 shares of the biopharmaceutical company’s stock worth $105,143,000 after buying an additional 8,316 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its stake in Madrigal Pharmaceuticals by 860.0% in the 1st 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 buying an additional 171,649 shares during the last quarter. American Century Companies Inc. raised its holdings in Madrigal Pharmaceuticals by 15.7% in the 1st quarter. American Century Companies Inc. now owns 158,306 shares of the biopharmaceutical company’s stock worth $52,436,000 after acquiring an additional 21,457 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Madrigal Pharmaceuticals by 0.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 151,251 shares of the biopharmaceutical company’s stock worth $50,099,000 after acquiring an additional 505 shares during the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MDGL. Cowen reiterated a “buy” rating on shares of Madrigal Pharmaceuticals in a research note on Tuesday, August 26th. HC Wainwright began coverage on Madrigal Pharmaceuticals in a research report on Thursday, September 4th. They issued a “buy” rating and a $500.00 price target on the stock. TD Cowen increased their price objective on Madrigal Pharmaceuticals from $390.00 to $554.00 and gave the company a “buy” rating in a research report on Tuesday, August 26th. UBS Group reaffirmed a “buy” rating and set a $523.00 target price (up previously from $458.00) on shares of Madrigal Pharmaceuticals in a research report on Tuesday, August 12th. Finally, Canaccord Genuity Group boosted their price target on Madrigal Pharmaceuticals from $428.00 to $526.00 and gave the company a “buy” rating in a research note on Friday, September 12th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $495.88.

Insiders Place Their Bets

In other news, Director Bros. Advisors Lp Baker acquired 59,901 shares of the firm’s stock in a transaction on Wednesday, August 20th. The shares were purchased at an average cost of $385.16 per share, with a total value of $23,071,469.16. Following the completion of the purchase, the director owned 1,947,968 shares of the company’s stock, valued at $750,279,354.88. This represents a 3.17% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Shannon T. Kelley sold 1,304 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $367.81, for a total transaction of $479,624.24. Following the sale, the general counsel directly owned 9,173 shares of the company’s stock, valued at approximately $3,373,921.13. The trade was a 12.45% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 165,683 shares of company stock worth $61,921,142 and have sold 309,019 shares worth $112,705,072. 21.50% of the stock is owned by company insiders.

Madrigal Pharmaceuticals Trading Down 2.1%

Shares of MDGL opened at $449.14 on Thursday. 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 stock has a market cap of $9.97 billion, a PE ratio of -34.95 and a beta of -1.02. Madrigal Pharmaceuticals, Inc. has a 1 year low of $200.63 and a 1 year high of $463.63. The stock has a 50 day simple moving average of $394.79 and a 200-day simple moving average of $336.02.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($1.90) earnings per share for the quarter, beating analysts’ consensus estimates of ($3.48) by $1.58. Madrigal Pharmaceuticals had a negative return on equity of 38.38% and a negative net margin of 54.68%.The firm had revenue of $212.80 million for the quarter, compared to analysts’ expectations of $158.94 million. During the same period in the prior year, the business posted ($7.10) earnings per share. The business’s revenue was up 1357.5% compared to the same quarter last year. On average, sell-side analysts predict that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current fiscal 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.