Iron Triangle Partners LP Makes New Investment in Madrigal Pharmaceuticals, Inc. $MDGL

Iron Triangle Partners LP acquired a new position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 58,378 shares of the biopharmaceutical company’s stock, valued at approximately $26,776,000. Madrigal Pharmaceuticals makes up about 3.8% of Iron Triangle Partners LP’s portfolio, making the stock its 13th largest position. Iron Triangle Partners LP owned approximately 0.26% of Madrigal Pharmaceuticals as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Mather Group LLC. bought a new stake in Madrigal Pharmaceuticals in the third quarter worth $33,000. Global Retirement Partners LLC lifted its position in Madrigal Pharmaceuticals by 221.7% during the third quarter. Global Retirement Partners LLC now owns 74 shares of the biopharmaceutical company’s stock valued at $34,000 after purchasing an additional 51 shares during the last quarter. First Horizon Corp purchased a new position in shares of Madrigal Pharmaceuticals in the 3rd quarter worth $34,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Madrigal Pharmaceuticals in the 3rd quarter worth $39,000. Finally, GAMMA Investing LLC increased its holdings in shares of Madrigal Pharmaceuticals by 114.3% in the 3rd quarter. GAMMA Investing LLC now owns 90 shares of the biopharmaceutical company’s stock worth $41,000 after buying an additional 48 shares during the last quarter. 98.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $571.00 price target on shares of Madrigal Pharmaceuticals in a report on Wednesday, January 14th. B. Riley Financial raised their price objective on Madrigal Pharmaceuticals from $560.00 to $670.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. Oppenheimer boosted their target price on Madrigal Pharmaceuticals from $600.00 to $650.00 and gave the company an “outperform” rating in a research report on Thursday, November 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a report on Thursday, January 22nd. Finally, Wolfe Research set a $579.00 price target on Madrigal Pharmaceuticals in a research report on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $685.31.

Madrigal Pharmaceuticals Stock Performance

Madrigal Pharmaceuticals stock opened at $444.83 on Monday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 3.77 and a current ratio of 4.01. The company has a market capitalization of $10.20 billion, a PE ratio of -34.56 and a beta of -0.97. The company has a 50 day moving average price of $477.62 and a 200-day moving average price of $488.83. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $265.00 and a fifty-two week high of $615.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $310.36 million. During the same quarter in the previous year, the business earned ($2.71) earnings per share. The company’s revenue for the quarter was up 210.8% compared to the same quarter last year. As a group, equities analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current year.

Insider Activity

In related news, insider Carole Huntsman sold 910 shares of Madrigal Pharmaceuticals stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $493.78, for a total value of $449,339.80. Following the completion of the sale, the insider directly owned 9,122 shares in the company, valued at $4,504,261.16. The trade was a 9.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Rebecca Taub sold 18,410 shares of the company’s stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $522.40, for a total transaction of $9,617,384.00. Following the completion of the sale, the director directly owned 455,589 shares of the company’s stock, valued at approximately $237,999,693.60. This trade represents a 3.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 55,612 shares of company stock valued at $28,326,065. Company insiders own 21.50% of the company’s stock.

Madrigal Pharmaceuticals 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.