Braidwell LP Makes New $39.01 Million Investment in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

by · The Markets Daily

Braidwell LP purchased a new position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL – Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 183,818 shares of the biopharmaceutical company’s stock, valued at approximately $39,010,000. Braidwell LP owned 0.84% of Madrigal Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently modified their holdings of the business. Fiera Capital Corp purchased a new stake in Madrigal Pharmaceuticals during the second quarter valued at approximately $32,335,000. Avoro Capital Advisors LLC increased its stake in shares of Madrigal Pharmaceuticals by 5.7% in the second quarter. Avoro Capital Advisors LLC now owns 2,055,555 shares of the biopharmaceutical company’s stock worth $575,884,000 after acquiring an additional 111,111 shares during the period. Point72 Asset Management L.P. increased its stake in shares of Madrigal Pharmaceuticals by 172.6% in the second quarter. Point72 Asset Management L.P. now owns 40,958 shares of the biopharmaceutical company’s stock worth $11,475,000 after acquiring an additional 97,387 shares during the period. Paulson & CO. Inc. grew its position in Madrigal Pharmaceuticals by 4.2% during the second quarter. Paulson & CO. Inc. now owns 1,850,000 shares of the biopharmaceutical company’s stock valued at $518,296,000 after buying an additional 75,000 shares during the period. Finally, Fred Alger Management LLC grew its position in Madrigal Pharmaceuticals by 58.7% during the second quarter. Fred Alger Management LLC now owns 102,455 shares of the biopharmaceutical company’s stock valued at $28,704,000 after buying an additional 37,879 shares during the period. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on MDGL. HC Wainwright restated 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 raised shares of Madrigal Pharmaceuticals to a “sell” rating in a research note on Saturday, October 12th. UBS Group lifted their target price 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. Citigroup dropped their price target on shares of Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, Evercore ISI dropped their price target on shares of Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $347.33.

Check Out Our Latest Report on MDGL

Insider Buying and Selling at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, CEO William John Sibold sold 6,363 shares of Madrigal Pharmaceuticals stock in a transaction 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 transaction, the chief executive officer now owns 55,887 shares of the company’s stock, valued at $13,626,927.21. The trade was a 10.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Fred B. Craves sold 3,400 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $350.30, for a total value of $1,191,020.00. Following the completion of the sale, the director now owns 14,600 shares in the company, valued at $5,114,380. The trade was a 18.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,763 shares of company stock valued at $4,247,210 over the last 90 days. 22.80% of the stock is owned by corporate insiders.

Madrigal Pharmaceuticals Stock Down 1.6 %

NASDAQ:MDGL opened at $331.45 on Friday. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $168.25 and a fifty-two week high of $368.29. The firm’s fifty day simple moving average is $260.42 and its 200-day simple moving average is $257.90. 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 (NASDAQ:MDGL – Get Free Report) last released its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($6.94) by $2.02. The firm had revenue of $62.18 million during the quarter, compared to analysts’ expectations of $34.60 million. During the same quarter last year, the company posted ($5.34) earnings per share. Sell-side analysts predict that Madrigal Pharmaceuticals, Inc. will post -24.08 earnings per share for the current year.

Madrigal Pharmaceuticals Profile

(Free Report)

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.

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