Two Sigma Securities LLC Invests $1.19 Million in Madrigal Pharmaceuticals, Inc. $MDGL

Two Sigma Securities LLC purchased a new stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 2,219 shares of the biopharmaceutical company’s stock, valued at approximately $1,191,000.

Several other large investors have also modified their holdings of the stock. GTS Securities LLC purchased a new position in Madrigal Pharmaceuticals during the second quarter worth approximately $210,000. Greenwood Capital Associates LLC grew its stake in shares of Madrigal Pharmaceuticals by 13.3% during the 2nd quarter. Greenwood Capital Associates LLC now owns 773 shares of the biopharmaceutical company’s stock valued at $415,000 after buying an additional 91 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Madrigal Pharmaceuticals by 36.2% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 32,403 shares of the biopharmaceutical company’s stock valued at $17,399,000 after buying an additional 8,607 shares during the period. Hsbc Holdings PLC increased its holdings in shares of Madrigal Pharmaceuticals by 1,738.3% during the 2nd quarter. Hsbc Holdings PLC now owns 20,240 shares of the biopharmaceutical company’s stock worth $10,868,000 after buying an additional 19,139 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of Madrigal Pharmaceuticals by 18.8% during the 2nd quarter. Wellington Management Group LLP now owns 825,714 shares of the biopharmaceutical company’s stock worth $443,367,000 after buying an additional 130,756 shares during the last quarter. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Madrigal Pharmaceuticals Stock Performance

Shares of MDGL opened at $540.03 on Tuesday. The firm has a market cap of $12.47 billion, a price-to-earnings ratio of -41.90 and a beta of -1.01. The company has a quick ratio of 2.94, a current ratio of 3.20 and a debt-to-equity ratio of 0.65. The business’s 50 day moving average is $527.51 and its two-hundred day moving average is $503.29. Madrigal Pharmaceuticals, Inc. has a 52-week low of $393.61 and a 52-week high of $615.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported ($1.99) earnings per share for the quarter, beating the consensus estimate of ($2.68) by $0.69. Madrigal Pharmaceuticals had a negative return on equity of 56.65% and a negative net margin of 25.32%.The firm had revenue of $364.25 million during the quarter, compared to analyst estimates of $352.13 million. During the same period in the previous year, the company earned ($1.90) earnings per share. Madrigal Pharmaceuticals’s quarterly revenue was up 71.2% on a year-over-year basis. Analysts forecast that Madrigal Pharmaceuticals, Inc. will post -7.03 EPS for the current fiscal year.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, General Counsel Shannon T. Kelley sold 664 shares of the stock in a transaction on Monday, August 17th. The shares were sold at an average price of $514.97, for a total transaction of $341,940.08. Following the sale, the general counsel directly owned 11,474 shares of the company’s stock, valued at approximately $5,908,765.78. This represents a 5.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 17.60% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on MDGL. UBS Group reiterated a “buy” rating on shares of Madrigal Pharmaceuticals in a report on Friday, July 31st. Truist Financial upped their price target on Madrigal Pharmaceuticals from $640.00 to $709.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. HC Wainwright restated a “buy” rating on shares of Madrigal Pharmaceuticals in a report on Friday, July 31st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a research note on Friday, July 17th. Finally, Bank of America decreased their target price on Madrigal Pharmaceuticals from $550.00 to $542.00 and set a “neutral” rating for the company in a report on Thursday, June 11th. Fifteen analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Madrigal Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $699.64.

Madrigal Pharmaceuticals Company Profile

Madrigal Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the development of innovative therapies for cardiovascular, metabolic and liver diseases. The company’s pipeline centers on novel, liver-directed agents designed to address significant unmet medical needs, with an emphasis on nonalcoholic steatohepatitis (NASH) and related metabolic disorders.

The lead product candidate, resmetirom (MGL-3196), is an orally administered, selective thyroid hormone receptor-? agonist in Phase 3 development for the treatment of NASH.