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

Congress Park Capital LLC purchased 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 SEC. The fund purchased 1,200 shares of the biopharmaceutical company’s stock, valued at approximately $320,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MDGL. Avoro Capital Advisors LLC grew its stake in Madrigal Pharmaceuticals by 21.5% in the 4th quarter. Avoro Capital Advisors LLC now owns 1,888,888 shares of the biopharmaceutical company’s stock valued at $437,051,000 after buying an additional 333,888 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Madrigal Pharmaceuticals by 7.4% during the third quarter. Vanguard Group Inc. now owns 1,573,338 shares of the biopharmaceutical company’s stock worth $229,770,000 after buying an additional 107,816 shares during the period. Paulson & CO. Inc. grew its holdings in Madrigal Pharmaceuticals by 121.1% in the fourth quarter. Paulson & CO. Inc. now owns 1,105,741 shares of the biopharmaceutical company’s stock worth $255,846,000 after purchasing an additional 605,741 shares during the period. RTW Investments LP lifted its position in shares of Madrigal Pharmaceuticals by 163.4% during the fourth quarter. RTW Investments LP now owns 815,191 shares of the biopharmaceutical company’s stock valued at $188,619,000 after purchasing an additional 505,706 shares in the last quarter. Finally, FMR LLC raised its position in Madrigal Pharmaceuticals by 26.2% in the third quarter. FMR LLC now owns 440,380 shares of the biopharmaceutical company’s stock worth $64,313,000 after acquiring an additional 91,337 shares during the period. 98.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on MDGL. Canaccord Genuity Group boosted their price target on shares of Madrigal Pharmaceuticals from $338.00 to $377.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. Citigroup cut their price objective on shares of Madrigal Pharmaceuticals from $389.00 to $382.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Oppenheimer upped their target price on shares of Madrigal Pharmaceuticals from $320.00 to $375.00 and gave the company an “outperform” rating in a research note on Friday, March 15th. Evercore ISI increased their price objective on shares of Madrigal Pharmaceuticals from $325.00 to $405.00 and gave the company an “outperform” rating in a report on Wednesday, March 20th. Finally, UBS Group raised their target price on shares of Madrigal Pharmaceuticals from $337.00 to $410.00 and gave the company a “buy” rating in a report on Friday, March 15th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $348.17.

Insider Activity at Madrigal Pharmaceuticals

In related news, Director James M. Daly sold 32,489 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $102.77, for a total transaction of $3,338,894.53. Following the completion of the sale, the director now owns 1,198 shares in the company, valued at $123,118.46. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director James M. Daly sold 32,489 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $102.77, for a total transaction of $3,338,894.53. Following the transaction, the director now owns 1,198 shares of the company’s stock, valued at $123,118.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Robert E. Waltermire sold 2,000 shares of the company’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $285.00, for a total value of $570,000.00. Following the transaction, the vice president now directly owns 5,500 shares in the company, valued at approximately $1,567,500. The disclosure for this sale can be found here. Insiders sold 173,921 shares of company stock worth $37,491,547 in the last three months. 23.92% of the stock is owned by company insiders.

Madrigal Pharmaceuticals Stock Performance

NASDAQ:MDGL traded down $5.92 during midday trading on Friday, hitting $279.74. The company’s stock had a trading volume of 132,115 shares, compared to its average volume of 516,102. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $299.98. The firm has a market cap of $5.96 billion, a P/E ratio of -12.37 and a beta of -0.41. The company has a debt-to-equity ratio of 0.14, a current ratio of 9.39 and a quick ratio of 9.39. The firm’s 50 day moving average is $237.06 and its 200-day moving average is $236.15.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings data on Tuesday, May 7th. The biopharmaceutical company reported ($7.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($6.06) by ($1.32). During the same quarter in the prior year, the firm posted ($4.23) earnings per share. Equities analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -27.62 earnings per share 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.