Chicago Partners Investment Group LLC Takes $277,000 Position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Chicago Partners Investment Group LLC acquired a new stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 835 shares of the biopharmaceutical company’s stock, valued at approximately $277,000.

Several other hedge funds and other institutional investors have also made changes to their positions in MDGL. Woodline Partners LP lifted its stake in Madrigal Pharmaceuticals by 110.2% during the fourth quarter. Woodline Partners LP now owns 309,117 shares of the biopharmaceutical company’s stock worth $95,384,000 after purchasing an additional 162,027 shares during the last quarter. Rock Springs Capital Management LP lifted its stake in Madrigal Pharmaceuticals by 0.8% during the fourth quarter. Rock Springs Capital Management LP now owns 265,212 shares of the biopharmaceutical company’s stock worth $81,836,000 after purchasing an additional 2,150 shares during the last quarter. Bank of America Corp DE lifted its stake in Madrigal Pharmaceuticals by 1.4% during the fourth quarter. Bank of America Corp DE now owns 217,828 shares of the biopharmaceutical company’s stock worth $67,215,000 after purchasing an additional 2,940 shares during the last quarter. ArrowMark Colorado Holdings LLC lifted its stake in Madrigal Pharmaceuticals by 23.3% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 199,667 shares of the biopharmaceutical company’s stock worth $61,611,000 after purchasing an additional 37,715 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Madrigal Pharmaceuticals by 5.5% during the fourth quarter. Northern Trust Corp now owns 155,883 shares of the biopharmaceutical company’s stock worth $48,101,000 after purchasing an additional 8,111 shares during the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Insiders Place Their Bets

In related news, Director Paul A. Friedman sold 26,176 shares of the company’s stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $353.47, for a total transaction of $9,252,430.72. Following the transaction, the director owned 187,164 shares of the company’s stock, valued at $66,156,859.08. This represents a 12.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Rebecca Taub sold 26,444 shares of the company’s stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $353.47, for a total value of $9,347,160.68. Following the transaction, the director directly owned 461,044 shares in the company, valued at $162,965,222.68. This represents a 5.42% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 60,377 shares of company stock worth $21,316,969 in the last ninety days. 21.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MDGL. B. Riley restated a “buy” rating and set a $460.00 target price (up previously from $422.00) on shares of Madrigal Pharmaceuticals in a research note on Friday, May 2nd. Canaccord Genuity Group lifted their price target on Madrigal Pharmaceuticals from $420.00 to $428.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. UBS Group lifted their price target on Madrigal Pharmaceuticals from $441.00 to $458.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. Wall Street Zen raised Madrigal Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, May 5th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $443.00 price target on shares of Madrigal Pharmaceuticals in a research report on Thursday, April 24th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $430.43.

Madrigal Pharmaceuticals Price Performance

Madrigal Pharmaceuticals stock opened at $349.50 on Tuesday. Madrigal Pharmaceuticals, Inc. has a 12 month low of $200.63 and a 12 month high of $377.46. The company has a debt-to-equity ratio of 0.17, a current ratio of 5.11 and a quick ratio of 4.78. The business has a 50 day simple moving average of $303.20 and a 200-day simple moving average of $312.98. The stock has a market capitalization of $7.76 billion, a PE ratio of -27.20 and a beta of -1.02.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($1.90) EPS for the quarter, topping the consensus estimate of ($3.48) by $1.58. Madrigal Pharmaceuticals had a negative return on equity of 38.38% and a negative net margin of 54.68%. The business had revenue of $212.80 million during the quarter, compared to analysts’ expectations of $158.94 million. During the same quarter in the prior year, the business earned ($7.10) earnings per share. The company’s quarterly revenue was up 1357.5% compared to the same quarter last year. Equities analysts predict that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current 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.