Gladstone Institutional Advisory LLC Makes New Investment in Madrigal Pharmaceuticals, Inc. $MDGL

Gladstone Institutional Advisory LLC acquired a new stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,093 shares of the biopharmaceutical company’s stock, valued at approximately $501,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MDGL. Adage Capital Partners GP L.L.C. lifted its position 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 worth $113,842,000 after acquiring an additional 184,554 shares during the period. Norges Bank acquired a new stake in shares of Madrigal Pharmaceuticals during the second quarter worth about $53,406,000. Invesco Ltd. lifted its holdings in shares of Madrigal Pharmaceuticals by 50.7% during the second quarter. Invesco Ltd. now owns 200,356 shares of the biopharmaceutical company’s stock worth $60,636,000 after purchasing an additional 67,422 shares during the period. BNP Paribas Financial Markets boosted its position in Madrigal Pharmaceuticals by 1,886.1% in the second quarter. BNP Paribas Financial Markets now owns 69,037 shares of the biopharmaceutical company’s stock valued at $20,893,000 after buying an additional 65,561 shares during the last quarter. Finally, Artisan Partners Limited Partnership increased its holdings 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 worth $61,003,000 after buying an additional 63,833 shares during the period. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Trading Down 7.6%

Shares of Madrigal Pharmaceuticals stock opened at $514.06 on Friday. The firm has a 50-day simple moving average of $557.79 and a two-hundred day simple moving average of $443.93. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.26 and a current ratio of 3.44. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $265.00 and a fifty-two week high of $615.00. The company has a market cap of $11.67 billion, a P/E ratio of -39.51, a price-to-earnings-growth ratio of 3.94 and a beta of -1.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings results on Tuesday, November 4th. The biopharmaceutical company reported ($5.08) earnings per share for the quarter, missing the consensus estimate 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%. As a group, equities analysts predict that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Madrigal Pharmaceuticals news, insider Carole Huntsman sold 1,958 shares of the company’s stock in a transaction on 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 completion of the transaction, the insider directly owned 10,032 shares in the company, valued at approximately $5,548,799.52. This represents a 16.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Mardi Dier sold 4,173 shares of the stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $578.34, for a total transaction of $2,413,412.82. Following the transaction, the chief financial officer directly owned 10,440 shares in the company, valued at approximately $6,037,869.60. The trade was a 28.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 77,056 shares of company stock valued at $41,324,312. 21.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

MDGL has been the subject of several research reports. UBS Group set a $900.00 price objective on shares of Madrigal Pharmaceuticals in a research note on Friday, December 19th. Citigroup restated an “outperform” rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, November 5th. JMP Securities set a $527.00 price target on shares of Madrigal Pharmaceuticals in a report on Wednesday, November 5th. Bank of America upgraded Madrigal Pharmaceuticals from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $266.00 to $445.00 in a research note on Monday, November 3rd. Finally, Oppenheimer boosted their price objective on Madrigal Pharmaceuticals from $600.00 to $650.00 and gave the company an “outperform” rating in a report on Thursday, November 20th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Madrigal Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $620.62.

About Madrigal Pharmaceuticals

Madrigal Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the development of innovative therapies for cardiovascular, metabolic and liver diseases. The company’s pipeline centers on novel, liver-directed agents designed to address significant unmet medical needs, with an emphasis on nonalcoholic steatohepatitis (NASH) and related metabolic disorders.

The lead product candidate, resmetirom (MGL-3196), is an orally administered, selective thyroid hormone receptor-β agonist in Phase 3 development for the treatment of NASH.