Spire Wealth Management Has $76,000 Holdings in Madrigal Pharmaceuticals, Inc. $MDGL

Spire Wealth Management lifted its holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 150.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 250 shares of the biopharmaceutical company’s stock after acquiring an additional 150 shares during the period. Spire Wealth Management’s holdings in Madrigal Pharmaceuticals were worth $76,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of MDGL. VSM Wealth Advisory LLC bought a new position in Madrigal Pharmaceuticals in the 1st quarter valued at about $25,000. Accent Capital Management LLC acquired a new stake in shares of Madrigal Pharmaceuticals during the 1st quarter worth approximately $25,000. AlphaQuest LLC increased its stake in Madrigal Pharmaceuticals by 412.5% in the second quarter. AlphaQuest LLC now owns 82 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 66 shares during the last quarter. Summit Securities Group LLC bought a new position in Madrigal Pharmaceuticals in the first quarter valued at approximately $33,000. Finally, GAMMA Investing LLC raised its position in Madrigal Pharmaceuticals by 131.4% during the first quarter. GAMMA Investing LLC now owns 118 shares of the biopharmaceutical company’s stock valued at $39,000 after purchasing an additional 67 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on MDGL. Truist Financial assumed coverage on Madrigal Pharmaceuticals in a report on Tuesday, October 14th. They issued a “buy” rating and a $580.00 target price on the stock. B. Riley raised their price objective on Madrigal Pharmaceuticals from $460.00 to $560.00 and gave the company a “buy” rating in a research note on Monday, September 29th. Oppenheimer lifted their target price on Madrigal Pharmaceuticals from $500.00 to $590.00 and gave the company an “outperform” rating in a research report on Friday, October 10th. Citizens Jmp increased their target price on shares of Madrigal Pharmaceuticals from $485.00 to $527.00 and gave the stock a “market outperform” rating in a report on Wednesday. Finally, UBS Group restated a “buy” rating and issued a $523.00 price target (up from $458.00) on shares of Madrigal Pharmaceuticals in a research note on Tuesday, August 12th. Thirteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $528.42.

Insider Buying and Selling at Madrigal Pharmaceuticals

In related news, Director Paul A. Friedman sold 129,172 shares of the business’s stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $370.24, for a total transaction of $47,824,641.28. Following the sale, the director owned 187,164 shares in the company, valued at $69,295,599.36. The trade was a 40.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kenneth Bate sold 10,000 shares of the business’s stock in a transaction on Friday, August 15th. The stock was sold at an average price of $365.20, for a total value of $3,652,000.00. Following the sale, the director owned 2,627 shares in the company, valued at $959,380.40. This represents a 79.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have purchased 165,683 shares of company stock worth $61,921,142 and have sold 248,642 shares worth $91,388,103. 21.50% of the stock is currently owned by insiders.

Madrigal Pharmaceuticals Trading Up 7.0%

Shares of MDGL stock opened at $475.87 on Thursday. The firm has a market capitalization of $10.57 billion, a P/E ratio of -37.03 and a beta of -1.02. Madrigal Pharmaceuticals, Inc. has a twelve month low of $265.00 and a twelve month high of $496.98. The company has a quick ratio of 4.78, a current ratio of 5.11 and a debt-to-equity ratio of 0.17. The stock’s fifty day simple moving average is $435.09 and its 200 day simple moving average is $355.41.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings data 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). The firm had revenue of $287.27 million for the quarter, compared to the consensus estimate of $244.33 million. Madrigal Pharmaceuticals had a negative return on equity of 38.38% and a negative net margin of 54.68%. As a group, 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.