Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) is RTW Investments LP's Largest Position

RTW Investments LP boosted its stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 4.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,993,687 shares of the biopharmaceutical company's stock after acquiring an additional 77,825 shares during the period. Madrigal Pharmaceuticals accounts for approximately 6.1% of RTW Investments LP's holdings, making the stock its biggest holding. RTW Investments LP owned 9.14% of Madrigal Pharmaceuticals worth $423,100,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in MDGL. Erste Asset Management GmbH purchased a new position in Madrigal Pharmaceuticals during the 3rd quarter valued at about $49,749,000. Paulson & CO. Inc. lifted its holdings in shares of Madrigal Pharmaceuticals by 10.4% during the third quarter. Paulson & CO. Inc. now owns 2,042,000 shares of the biopharmaceutical company's stock valued at $433,353,000 after purchasing an additional 192,000 shares during the last quarter. Braidwell LP bought a new stake in shares of Madrigal Pharmaceuticals in the 3rd quarter worth approximately $39,010,000. Fiera Capital Corp purchased a new stake in shares of Madrigal Pharmaceuticals in the 2nd quarter worth approximately $32,335,000. Finally, Avoro Capital Advisors LLC increased its position in Madrigal Pharmaceuticals by 5.7% during 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 buying an additional 111,111 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. UBS Group increased their target price on Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. HC Wainwright reiterated a "buy" rating and issued a $390.00 price target on shares of Madrigal Pharmaceuticals in a research note on Tuesday, October 22nd. Cantor Fitzgerald restated a "neutral" rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, November 20th. B. Riley upped their target price on shares of Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 5th. Finally, StockNews.com upgraded shares of Madrigal Pharmaceuticals to a "sell" rating in a report on Saturday, October 12th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $347.33.

Madrigal Pharmaceuticals Stock Performance

MDGL traded down $5.43 during mid-day trading on Thursday, reaching $313.05. 287,092 shares of the company traded hands, compared to its average volume of 439,987. The stock has a market capitalization of $6.83 billion, a P/E ratio of -12.48 and a beta of -0.42. Madrigal Pharmaceuticals, Inc. has a 52-week low of $168.25 and a 52-week high of $368.29. The company has a quick ratio of 5.93, a current ratio of 5.98 and a debt-to-equity ratio of 0.15. The company's fifty day moving average price is $270.16 and its 200-day moving average price is $261.57.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last posted its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share 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 period in the prior year, the company posted ($5.34) EPS. On average, sell-side analysts expect that Madrigal Pharmaceuticals, Inc. will post -24.08 EPS for the current year.

Insider Transactions at Madrigal Pharmaceuticals

In other news, CEO William John Sibold sold 6,363 shares of the company's stock in a transaction on Monday, September 9th. The stock was sold at an average price of $243.83, for a total value of $1,551,490.29. Following the completion of the sale, the chief executive officer now directly owns 55,887 shares in the company, valued at $13,626,927.21. This represents a 10.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Fred B. Craves sold 3,400 shares of the firm's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $350.30, for a total value of $1,191,020.00. Following the completion of the transaction, the director now directly owns 14,600 shares in the company, valued at approximately $5,114,380. This represents a 18.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,363 shares of company stock worth $5,382,326 in the last quarter. Company insiders own 22.80% of the company's stock.

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.