32,662 Shares in Madrigal Pharmaceuticals, Inc. $MDGL Bought by Ally Bridge Group NY LLC

Ally Bridge Group NY LLC bought a new stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 32,662 shares of the biopharmaceutical company’s stock, valued at approximately $14,981,000. Madrigal Pharmaceuticals comprises about 9.1% of Ally Bridge Group NY LLC’s portfolio, making the stock its 3rd biggest holding. Ally Bridge Group NY LLC owned 0.14% of Madrigal Pharmaceuticals as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in shares of Madrigal Pharmaceuticals by 388.3% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 15,288 shares of the biopharmaceutical company’s stock worth $7,012,000 after purchasing an additional 12,157 shares during the period. Voya Investment Management LLC raised its holdings in Madrigal Pharmaceuticals by 16.3% in the third quarter. Voya Investment Management LLC now owns 59,437 shares of the biopharmaceutical company’s stock valued at $27,261,000 after buying an additional 8,347 shares during the period. Calamos Advisors LLC purchased a new position in Madrigal Pharmaceuticals in the third quarter valued at approximately $2,057,000. Marex Group plc acquired a new position in Madrigal Pharmaceuticals during the second quarter valued at approximately $548,000. Finally, New York State Common Retirement Fund grew its stake in Madrigal Pharmaceuticals by 13.4% during the third quarter. New York State Common Retirement Fund now owns 69,273 shares of the biopharmaceutical company’s stock worth $31,773,000 after buying an additional 8,211 shares during the period. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MDGL has been the subject of several recent research reports. HC Wainwright increased their price objective on shares of Madrigal Pharmaceuticals from $568.00 to $620.00 and gave the stock a “buy” rating in a research report on Friday, November 21st. B. Riley Financial upped their price target on shares of Madrigal Pharmaceuticals from $560.00 to $670.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Piper Sandler increased their price target on Madrigal Pharmaceuticals from $540.00 to $900.00 and gave the company an “overweight” rating in a report on Friday, December 19th. Citizens Jmp raised their price objective on Madrigal Pharmaceuticals from $527.00 to $745.00 and gave the company a “market outperform” rating in a research report on Tuesday, January 20th. Finally, Wolfe Research set a $579.00 price objective on Madrigal Pharmaceuticals in a research note on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $685.31.

Insider Activity

In other Madrigal Pharmaceuticals news, CFO Mardi Dier sold 1,982 shares of the stock in a transaction on Friday, March 6th. The shares were sold at an average price of $430.87, for a total transaction of $853,984.34. Following the sale, the chief financial officer directly owned 12,490 shares of the company’s stock, valued at approximately $5,381,566.30. This represents a 13.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Carole Huntsman sold 910 shares of the firm’s stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $493.78, for a total transaction of $449,339.80. Following the completion of the transaction, the insider owned 9,122 shares in the company, valued at approximately $4,504,261.16. The trade was a 9.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 55,612 shares of company stock valued at $28,326,065 over the last three months. 21.50% of the stock is currently owned by company insiders.

Madrigal Pharmaceuticals Trading Up 1.4%

NASDAQ:MDGL opened at $444.83 on Friday. The company has a quick ratio of 3.77, a current ratio of 4.01 and a debt-to-equity ratio of 0.56. The business’s 50 day moving average is $477.62 and its two-hundred day moving average is $488.39. Madrigal Pharmaceuticals, Inc. has a 52 week low of $265.00 and a 52 week high of $615.00. The company has a market cap of $10.20 billion, a PE ratio of -34.56 and a beta of -0.97.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its earnings results on Thursday, February 19th. The biopharmaceutical company reported ($2.57) EPS for the quarter, missing the consensus estimate of $0.04 by ($2.61). Madrigal Pharmaceuticals had a negative return on equity of 43.76% and a negative net margin of 30.08%.The firm had revenue of $321.08 million during the quarter, compared to analyst estimates of $310.36 million. During the same quarter in the previous year, the business posted ($2.71) EPS. Madrigal Pharmaceuticals’s revenue was up 210.8% compared to the same quarter last year. On average, analysts predict that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current year.

Madrigal Pharmaceuticals Company Profile

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.