Sheaff Brock Investment Advisors LLC Makes New Investment in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Sheaff Brock Investment Advisors LLC bought a new position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,600 shares of the biopharmaceutical company’s stock, valued at approximately $961,000.

Several other hedge funds have also recently bought and sold shares of the business. Nan Fung Group Holdings Ltd increased its position in Madrigal Pharmaceuticals by 380.7% during the first quarter. Nan Fung Group Holdings Ltd now owns 5,682 shares of the biopharmaceutical company’s stock worth $1,517,000 after buying an additional 4,500 shares during the last quarter. EntryPoint Capital LLC bought a new stake in Madrigal Pharmaceuticals during the first quarter valued at about $41,000. Propel Bio Management LLC boosted its holdings in Madrigal Pharmaceuticals by 43.3% during the first quarter. Propel Bio Management LLC now owns 43,032 shares of the biopharmaceutical company’s stock valued at $11,491,000 after acquiring an additional 13,000 shares during the period. Pitcairn Co. bought a new stake in Madrigal Pharmaceuticals during the first quarter valued at about $269,000. Finally, Vanguard Group Inc. boosted its holdings in Madrigal Pharmaceuticals by 6.0% during the first quarter. Vanguard Group Inc. now owns 1,668,806 shares of the biopharmaceutical company’s stock valued at $445,638,000 after acquiring an additional 94,064 shares during the period. 98.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on MDGL shares. Cantor Fitzgerald restated a “neutral” rating on shares of Madrigal Pharmaceuticals in a report on Tuesday. HC Wainwright decreased their price target on shares of Madrigal Pharmaceuticals from $425.00 to $390.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Bank of America began coverage on shares of Madrigal Pharmaceuticals in a report on Monday, April 22nd. They set an “underperform” rating and a $150.00 price target for the company. JMP Securities increased their target price on shares of Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the company a “market outperform” rating in a research note on Tuesday, July 16th. Finally, Wolfe Research began coverage on shares of Madrigal Pharmaceuticals in a research note on Tuesday, June 11th. They issued an “outperform” rating and a $382.00 target price for the company. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $348.50.

Insider Transactions at Madrigal Pharmaceuticals

In related news, Director Fred B. Craves sold 22,489 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $212.88, for a total value of $4,787,458.32. Following the completion of the sale, the director now owns 413,362 shares of the company’s stock, valued at $87,996,502.56. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Fred B. Craves sold 22,489 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $212.88, for a total value of $4,787,458.32. Following the completion of the sale, the director now owns 413,362 shares of the company’s stock, valued at $87,996,502.56. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Robert E. Waltermire sold 1,036 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $231.34, for a total transaction of $239,668.24. Following the completion of the transaction, the vice president now directly owns 5,500 shares in the company, valued at $1,272,370. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,425 shares of company stock valued at $6,129,127. Corporate insiders own 23.92% of the company’s stock.

Madrigal Pharmaceuticals Price Performance

MDGL traded up $1.03 during midday trading on Friday, reaching $284.49. 167,769 shares of the company’s stock were exchanged, compared to its average volume of 488,499. The firm has a market capitalization of $6.06 billion, a price-to-earnings ratio of -12.28 and a beta of -0.42. The company has a quick ratio of 9.39, a current ratio of 9.39 and a debt-to-equity ratio of 0.14. Madrigal Pharmaceuticals, Inc. has a one year low of $119.76 and a one year high of $299.98. The business has a 50-day simple moving average of $264.94 and a two-hundred day simple moving average of $243.55.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($7.38) EPS for the quarter, missing analysts’ consensus estimates of ($6.06) by ($1.32). During the same period in the previous year, the company posted ($4.23) EPS. As a group, research analysts predict that Madrigal Pharmaceuticals, Inc. will post -27.7 EPS for the current year.

Madrigal Pharmaceuticals 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.