Braidwell LP Takes $39.01 Million Position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Braidwell LP acquired a new stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 183,818 shares of the biopharmaceutical company's stock, valued at approximately $39,010,000. Braidwell LP owned 0.84% of Madrigal Pharmaceuticals as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Fiera Capital Corp acquired a new stake in Madrigal Pharmaceuticals in the 2nd quarter valued at about $32,335,000. Avoro Capital Advisors LLC boosted its position in shares of Madrigal Pharmaceuticals by 5.7% in the 2nd quarter. Avoro Capital Advisors LLC now owns 2,055,555 shares of the biopharmaceutical company's stock valued at $575,884,000 after purchasing an additional 111,111 shares during the period. Point72 Asset Management L.P. increased its position in shares of Madrigal Pharmaceuticals by 172.6% in the second quarter. Point72 Asset Management L.P. now owns 40,958 shares of the biopharmaceutical company's stock worth $11,475,000 after acquiring an additional 97,387 shares in the last quarter. Paulson & CO. Inc. grew its position in Madrigal Pharmaceuticals by 4.2% during the 2nd quarter. Paulson & CO. Inc. now owns 1,850,000 shares of the biopharmaceutical company's stock worth $518,296,000 after purchasing an additional 75,000 shares in the last quarter. Finally, Fred Alger Management LLC raised its position in Madrigal Pharmaceuticals by 58.7% during the second quarter. Fred Alger Management LLC now owns 102,455 shares of the biopharmaceutical company's stock valued at $28,704,000 after buying an additional 37,879 shares during the period. Institutional investors own 98.50% of the company's stock.

Insider Buying and Selling

In related news, CEO William John Sibold sold 6,363 shares of the business's stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $243.83, for a total transaction of $1,551,490.29. Following the completion of the transaction, the chief executive officer now owns 55,887 shares in the company, valued at approximately $13,626,927.21. The trade was a 10.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard S. Levy sold 5,000 shares of the business's stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $300.94, for a total value of $1,504,700.00. Following the completion of the transaction, the director now directly owns 11,012 shares of the company's stock, valued at approximately $3,313,951.28. The trade was a 31.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,763 shares of company stock valued at $4,247,210 over the last ninety days. Insiders own 22.80% of the company's stock.

Wall Street Analysts Forecast Growth

MDGL has been the topic of several research reports. UBS Group upped their price objective on shares of Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a "buy" rating in a research note on Friday, November 1st. Oppenheimer reduced their price objective on shares of Madrigal Pharmaceuticals from $375.00 to $350.00 and set an "outperform" rating for the company in a research note on Wednesday, October 23rd. StockNews.com upgraded Madrigal Pharmaceuticals to a "sell" rating in a research note on Saturday, October 12th. Citigroup reduced their price target on shares of Madrigal Pharmaceuticals from $382.00 to $371.00 and set a "buy" rating for the company in a report on Thursday, August 8th. Finally, B. Riley lifted their price objective on Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the stock a "neutral" rating in a report on Tuesday, November 5th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $347.33.

Madrigal Pharmaceuticals Price Performance

Shares of NASDAQ:MDGL traded down $3.26 during midday trading on Friday, reaching $328.19. The company's stock had a trading volume of 189,365 shares, compared to its average volume of 442,068. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $168.25 and a fifty-two week high of $368.29. The business's fifty day simple moving average is $262.31 and its 200-day simple moving average is $259.04. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.98 and a quick ratio of 5.93. The company has a market capitalization of $7.16 billion, a P/E ratio of -13.09 and a beta of -0.46.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($4.92) EPS for the quarter, beating analysts' consensus estimates of ($6.94) by $2.02. The firm had revenue of $62.18 million during the quarter, compared to the consensus estimate of $34.60 million. During the same quarter in the previous year, the business posted ($5.34) earnings per share. As a group, equities research analysts expect that Madrigal Pharmaceuticals, Inc. will post -24.08 EPS for the current fiscal year.

About Madrigal Pharmaceuticals

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.