Congress Park Capital LLC Invests $320,000 in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Congress Park Capital LLC acquired a new stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) in the first quarter, Holdings Channel.com reports. The firm acquired 1,200 shares of the biopharmaceutical company’s stock, valued at approximately $320,000.

A number of other hedge funds have also bought and sold shares of MDGL. Paulson & CO. Inc. lifted its holdings in shares of Madrigal Pharmaceuticals by 121.1% during the 4th quarter. Paulson & CO. Inc. now owns 1,105,741 shares of the biopharmaceutical company’s stock worth $255,846,000 after acquiring an additional 605,741 shares during the last quarter. RTW Investments LP lifted its stake in Madrigal Pharmaceuticals by 163.4% in the fourth quarter. RTW Investments LP now owns 815,191 shares of the biopharmaceutical company’s stock worth $188,619,000 after purchasing an additional 505,706 shares during the last quarter. Avoro Capital Advisors LLC lifted its stake in Madrigal Pharmaceuticals by 21.5% in the fourth quarter. Avoro Capital Advisors LLC now owns 1,888,888 shares of the biopharmaceutical company’s stock worth $437,051,000 after purchasing an additional 333,888 shares during the last quarter. Bain Capital Life Sciences Investors LLC bought a new stake in Madrigal Pharmaceuticals in the fourth quarter worth $75,110,000. Finally, AlpInvest Partners B.V. bought a new stake in Madrigal Pharmaceuticals in the fourth quarter worth $48,934,000. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MDGL. Oppenheimer boosted their price objective on shares of Madrigal Pharmaceuticals from $320.00 to $375.00 and gave the company an “outperform” rating in a research report on Friday, March 15th. Piper Sandler reiterated an “overweight” rating and set a $336.00 price target on shares of Madrigal Pharmaceuticals in a research report on Thursday, March 14th. Canaccord Genuity Group boosted their price target on shares of Madrigal Pharmaceuticals from $338.00 to $377.00 and gave the company a “buy” rating in a research report on Friday, March 15th. Evercore ISI boosted their price objective on shares of Madrigal Pharmaceuticals from $325.00 to $405.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 20th. Finally, UBS Group boosted their price objective on shares of Madrigal Pharmaceuticals from $337.00 to $410.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. Two investment 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $348.17.

Insider Activity at Madrigal Pharmaceuticals

In other news, VP Robert E. Waltermire sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $285.00, for a total value of $570,000.00. Following the completion of the sale, the vice president now owns 5,500 shares in the company, valued at approximately $1,567,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Madrigal Pharmaceuticals news, VP Robert E. Waltermire sold 2,000 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $285.00, for a total transaction of $570,000.00. Following the sale, the vice president now owns 5,500 shares of the company’s stock, valued at approximately $1,567,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Rebecca Taub sold 27,506 shares of the firm’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $243.36, for a total value of $6,693,860.16. Following the sale, the chief marketing officer now directly owns 458,999 shares in the company, valued at approximately $111,701,996.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 173,921 shares of company stock valued at $37,491,547. Corporate insiders own 23.92% of the company’s stock.

Madrigal Pharmaceuticals Price Performance

Shares of NASDAQ MDGL traded down $5.92 during midday trading on Friday, reaching $279.74. The stock had a trading volume of 132,115 shares, compared to its average volume of 516,102. The stock has a 50-day moving average of $237.06 and a 200-day moving average of $236.15. The company has a debt-to-equity ratio of 0.14, a quick ratio of 9.39 and a current ratio of 9.39. The company has a market capitalization of $5.96 billion, a price-to-earnings ratio of -12.37 and a beta of -0.41. Madrigal Pharmaceuticals, Inc. has a 12-month low of $119.76 and a 12-month high of $299.98.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($7.38) earnings per share for the quarter, missing the consensus estimate of ($6.06) by ($1.32). During the same quarter in the prior year, the firm earned ($4.23) EPS. As a group, research analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -27.62 EPS for the current fiscal year.

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.