Madrigal Pharmaceuticals, Inc. $MDGL Shares Acquired by Chicago Partners Investment Group LLC

Chicago Partners Investment Group LLC boosted its position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 16.0% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 969 shares of the biopharmaceutical company’s stock after buying an additional 134 shares during the period. Chicago Partners Investment Group LLC’s holdings in Madrigal Pharmaceuticals were worth $297,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. VSM Wealth Advisory LLC bought a new stake in Madrigal Pharmaceuticals in the first quarter valued at about $25,000. Accent Capital Management LLC bought a new stake in Madrigal Pharmaceuticals in the first quarter valued at about $25,000. Summit Securities Group LLC bought a new stake in Madrigal Pharmaceuticals in the first quarter valued at about $33,000. GAMMA Investing LLC increased its holdings in Madrigal Pharmaceuticals by 131.4% in the first quarter. GAMMA Investing LLC now owns 118 shares of the biopharmaceutical company’s stock valued at $39,000 after buying an additional 67 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its holdings in Madrigal Pharmaceuticals by 38.9% in the first quarter. First Horizon Advisors Inc. now owns 157 shares of the biopharmaceutical company’s stock valued at $52,000 after buying an additional 44 shares during the last quarter. 98.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on MDGL shares. TD Cowen boosted their price objective on Madrigal Pharmaceuticals from $390.00 to $554.00 and gave the company a “buy” rating in a report on Tuesday, August 26th. UBS Group reissued a “buy” rating and issued a $523.00 price objective (up from $458.00) on shares of Madrigal Pharmaceuticals in a report on Tuesday, August 12th. JMP Securities upped their target price on Madrigal Pharmaceuticals from $483.00 to $485.00 and gave the company a “market outperform” rating in a report on Wednesday, August 20th. Cowen reaffirmed a “buy” rating on shares of Madrigal Pharmaceuticals in a report on Tuesday, August 26th. Finally, Canaccord Genuity Group upped their target price on Madrigal Pharmaceuticals from $428.00 to $526.00 and gave the company a “buy” rating in a report on Friday, September 12th. Eleven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $532.70.

Madrigal Pharmaceuticals Stock Performance

Shares of MDGL stock opened at $421.50 on Friday. Madrigal Pharmaceuticals, Inc. has a 12-month low of $203.18 and a 12-month high of $463.63. The firm has a market capitalization of $9.36 billion, a price-to-earnings ratio of -32.80 and a beta of -1.02. The business has a 50 day simple moving average of $430.70 and a 200 day simple moving average of $348.06. The company has a debt-to-equity ratio of 0.17, a current ratio of 5.11 and a quick ratio of 4.78.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported ($1.90) earnings per share (EPS) for the quarter, topping 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 business had revenue of $212.80 million during the quarter, compared to analyst estimates of $158.94 million. During the same period in the prior year, the company posted ($7.10) EPS. The business’s revenue for the quarter was up 1357.5% compared to the same quarter last year. On average, equities research analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current year.

Insiders Place Their Bets

In related news, Director Paul A. Friedman sold 129,172 shares of the stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $370.24, for a total value of $47,824,641.28. Following the completion of the transaction, the director directly owned 187,164 shares of the company’s stock, valued at $69,295,599.36. This represents a 40.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kenneth Bate sold 10,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the director directly owned 2,627 shares of the company’s stock, valued at $959,380.40. This trade represents a 79.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders purchased 165,683 shares of company stock worth $61,921,142 and sold 248,642 shares worth $91,388,103. 21.50% of the stock is owned by corporate insiders.

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.