Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) is RTW Investments LP’s Largest Position

RTW Investments LP raised its holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 4.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,993,687 shares of the biopharmaceutical company’s stock after acquiring an additional 77,825 shares during the period. Madrigal Pharmaceuticals makes up approximately 6.1% of RTW Investments LP’s portfolio, making the stock its biggest position. RTW Investments LP owned about 0.09% of Madrigal Pharmaceuticals worth $423,100,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MDGL. Eagle Asset Management Inc. bought a new position in shares of Madrigal Pharmaceuticals during the third quarter valued at approximately $6,875,000. Braidwell LP acquired a new position in shares of Madrigal Pharmaceuticals in the third quarter worth $39,010,000. Intech Investment Management LLC bought a new stake in Madrigal Pharmaceuticals in the third quarter worth $1,280,000. Sofinnova Investments Inc. boosted its holdings in Madrigal Pharmaceuticals by 133.4% in the second quarter. Sofinnova Investments Inc. now owns 44,417 shares of the biopharmaceutical company’s stock worth $12,444,000 after purchasing an additional 25,388 shares in the last quarter. Finally, Vestal Point Capital LP acquired a new stake in shares of Madrigal Pharmaceuticals in the third quarter valued at about $6,367,000. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Madrigal Pharmaceuticals Price Performance

Shares of MDGL opened at $318.48 on Thursday. The company has a quick ratio of 5.93, a current ratio of 5.98 and a debt-to-equity ratio of 0.15. Madrigal Pharmaceuticals, Inc. has a 1 year low of $168.25 and a 1 year high of $368.29. The company has a 50 day simple moving average of $268.18 and a two-hundred day simple moving average of $261.21.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) EPS for the quarter, beating the consensus estimate of ($6.94) by $2.02. The firm had revenue of $62.18 million for the quarter, compared to analysts’ expectations of $34.60 million. During the same period in the previous year, the company posted ($5.34) earnings per share. Sell-side analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -24.08 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. UBS Group raised their price target on shares of Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. B. Riley boosted their price objective on shares of Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. HC Wainwright reissued a “buy” rating and set a $390.00 price target on shares of Madrigal Pharmaceuticals in a research report on Tuesday, October 22nd. StockNews.com upgraded shares of Madrigal Pharmaceuticals to a “sell” rating in a research note on Saturday, October 12th. Finally, Evercore ISI decreased their target price on shares of Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Madrigal Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $347.33.

Insider Activity

In related news, Director Richard S. Levy sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $300.94, for a total transaction of $1,504,700.00. Following the completion of the sale, the director now owns 11,012 shares in the company, valued at $3,313,951.28. The trade was a 31.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William John Sibold sold 6,363 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $243.83, for a total value of $1,551,490.29. Following the completion of the sale, the chief executive officer now owns 55,887 shares of the company’s stock, valued at approximately $13,626,927.21. This represents a 10.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,763 shares of company stock worth $4,247,210 in the last quarter. Corporate insiders own 22.80% of the company’s stock.

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.