Two Sigma Securities LLC Makes New Investment in Madrigal Pharmaceuticals, Inc. $MDGL

Two Sigma Securities LLC bought a new position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 2,219 shares of the biopharmaceutical company’s stock, valued at approximately $1,191,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GTS Securities LLC acquired a new stake in Madrigal Pharmaceuticals in the second quarter valued at approximately $210,000. Greenwood Capital Associates LLC grew its holdings in Madrigal Pharmaceuticals by 13.3% during the 2nd quarter. Greenwood Capital Associates LLC now owns 773 shares of the biopharmaceutical company’s stock worth $415,000 after acquiring an additional 91 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Madrigal Pharmaceuticals by 36.2% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 32,403 shares of the biopharmaceutical company’s stock valued at $17,399,000 after purchasing an additional 8,607 shares during the last quarter. Hsbc Holdings PLC increased its position in shares of Madrigal Pharmaceuticals by 1,738.3% in the 2nd quarter. Hsbc Holdings PLC now owns 20,240 shares of the biopharmaceutical company’s stock valued at $10,868,000 after purchasing an additional 19,139 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Madrigal Pharmaceuticals by 18.8% in the 2nd quarter. Wellington Management Group LLP now owns 825,714 shares of the biopharmaceutical company’s stock valued at $443,367,000 after purchasing an additional 130,756 shares in the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Price Performance

Shares of NASDAQ MDGL opened at $540.03 on Tuesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.20 and a quick ratio of 2.94. The stock has a fifty day moving average price of $527.51 and a 200 day moving average price of $503.29. Madrigal Pharmaceuticals, Inc. has a 1-year low of $393.61 and a 1-year high of $615.00. The company has a market cap of $12.47 billion, a PE ratio of -41.90 and a beta of -1.01.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported ($1.99) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.68) by $0.69. Madrigal Pharmaceuticals had a negative return on equity of 56.65% and a negative net margin of 25.32%.The company had revenue of $364.25 million for the quarter, compared to analyst estimates of $352.13 million. During the same quarter in the previous year, the company earned ($1.90) EPS. The firm’s revenue for the quarter was up 71.2% compared to the same quarter last year. Sell-side analysts forecast that Madrigal Pharmaceuticals, Inc. will post -7.03 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Canaccord Genuity Group boosted their target price on Madrigal Pharmaceuticals from $578.00 to $587.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Piper Sandler reiterated an “overweight” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, June 24th. Evercore set a $649.00 price objective on shares of Madrigal Pharmaceuticals in a report on Thursday, May 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a research report on Friday, July 17th. Finally, Truist Financial upped their target price on shares of Madrigal Pharmaceuticals from $640.00 to $709.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Fifteen analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $699.64.

Insider Activity at Madrigal Pharmaceuticals

In other news, General Counsel Shannon T. Kelley sold 664 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $514.97, for a total value of $341,940.08. Following the sale, the general counsel directly owned 11,474 shares in the company, valued at $5,908,765.78. This represents a 5.47% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 17.60% of the stock is owned by corporate insiders.

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.