SG Americas Securities LLC Makes New Investment in Madrigal Pharmaceuticals, Inc. $MDGL

SG Americas Securities LLC bought a new stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 5,191 shares of the biopharmaceutical company’s stock, valued at approximately $2,381,000.

Several other hedge funds also recently made changes to their positions in the company. Teacher Retirement System of Texas lifted its position in Madrigal Pharmaceuticals by 9.6% during the second quarter. Teacher Retirement System of Texas now owns 3,860 shares of the biopharmaceutical company’s stock valued at $1,168,000 after buying an additional 338 shares during the period. Voya Investment Management LLC grew its position in shares of Madrigal Pharmaceuticals by 16.3% in the 3rd quarter. Voya Investment Management LLC now owns 59,437 shares of the biopharmaceutical company’s stock worth $27,261,000 after buying an additional 8,347 shares during the period. Marex Group plc bought a new position in shares of Madrigal Pharmaceuticals in the 2nd quarter worth about $548,000. Calamos Advisors LLC bought a new position in shares of Madrigal Pharmaceuticals in the 3rd quarter worth about $2,057,000. Finally, Gladstone Institutional Advisory LLC purchased a new position in Madrigal Pharmaceuticals during the 3rd quarter valued at about $501,000. 98.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. UBS Group set a $900.00 price objective on shares of Madrigal Pharmaceuticals in a report on Friday, December 19th. Citigroup reiterated an “outperform” rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, November 5th. JMP Securities set a $527.00 price target on Madrigal Pharmaceuticals in a research note on Wednesday, November 5th. Wolfe Research set a $579.00 price objective on Madrigal Pharmaceuticals in a research report on Tuesday, January 6th. Finally, Oppenheimer lifted their price objective on Madrigal Pharmaceuticals from $600.00 to $650.00 and gave the company an “outperform” rating in a research note on Thursday, November 20th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $617.07.

Madrigal Pharmaceuticals Trading Down 3.3%

NASDAQ:MDGL opened at $493.90 on Wednesday. Madrigal Pharmaceuticals, Inc. has a 52 week low of $265.00 and a 52 week high of $615.00. The stock has a market cap of $11.22 billion, a price-to-earnings ratio of -37.96, a PEG ratio of 3.62 and a beta of -1.00. The company’s 50 day moving average price is $560.74 and its 200-day moving average price is $449.07. The company has a quick ratio of 3.26, a current ratio of 3.44 and a debt-to-equity ratio of 0.54.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its earnings results on Tuesday, November 4th. The biopharmaceutical company reported ($5.08) EPS for the quarter, missing the consensus estimate of ($2.01) by ($3.07). Madrigal Pharmaceuticals had a negative net margin of 39.04% and a negative return on equity of 41.50%. On average, equities research analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

Insider Activity at Madrigal Pharmaceuticals

In related news, Director Paul A. Friedman sold 24,520 shares of Madrigal Pharmaceuticals stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $522.39, for a total value of $12,809,002.80. Following the completion of the sale, the director directly owned 187,164 shares in the company, valued at approximately $97,772,601.96. This trade represents a 11.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mardi Dier sold 4,173 shares of the company’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $578.34, for a total transaction of $2,413,412.82. Following the transaction, the chief financial officer owned 10,440 shares in the company, valued at $6,037,869.60. This represents a 28.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 120,506 shares of company stock valued at $64,037,125 over the last three months. 21.50% of the stock is owned by insiders.

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.