Iron Triangle Partners LP Makes New $26.78 Million Investment in Madrigal Pharmaceuticals, Inc. $MDGL

Iron Triangle Partners LP bought a new stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 58,378 shares of the biopharmaceutical company’s stock, valued at approximately $26,776,000. Madrigal Pharmaceuticals makes up about 3.8% of Iron Triangle Partners LP’s portfolio, making the stock its 13th biggest position.

Other large investors have also recently made changes to their positions in the company. Universal Beteiligungs und Servicegesellschaft mbH boosted its position in Madrigal Pharmaceuticals by 388.3% during the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 15,288 shares of the biopharmaceutical company’s stock valued at $7,012,000 after purchasing an additional 12,157 shares in the last quarter. Voya Investment Management LLC raised its holdings in Madrigal Pharmaceuticals by 16.3% in the third quarter. Voya Investment Management LLC now owns 59,437 shares of the biopharmaceutical company’s stock worth $27,261,000 after purchasing an additional 8,347 shares in the last quarter. Calamos Advisors LLC bought a new position in Madrigal Pharmaceuticals in the third quarter worth about $2,057,000. Marex Group plc purchased a new stake in shares of Madrigal Pharmaceuticals during the second quarter valued at about $548,000. Finally, New York State Common Retirement Fund boosted its holdings in shares of Madrigal Pharmaceuticals by 13.4% in the 3rd quarter. New York State Common Retirement Fund now owns 69,273 shares of the biopharmaceutical company’s stock valued at $31,773,000 after buying an additional 8,211 shares in the last quarter. 98.50% of the stock is owned by institutional investors.

Madrigal Pharmaceuticals Stock Performance

MDGL opened at $444.83 on Monday. The company has a current ratio of 4.01, a quick ratio of 3.77 and a debt-to-equity ratio of 0.56. Madrigal Pharmaceuticals, Inc. has a 12-month low of $265.00 and a 12-month high of $615.00. The firm has a 50 day moving average of $477.62 and a two-hundred day moving average of $488.83. The firm has a market capitalization of $10.20 billion, a PE ratio of -34.56 and a beta of -0.97.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings data on Thursday, February 19th. The biopharmaceutical company reported ($2.57) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($2.61). The business had revenue of $321.08 million during the quarter, compared to analyst estimates of $310.36 million. Madrigal Pharmaceuticals had a negative return on equity of 43.76% and a negative net margin of 30.08%.The firm’s revenue was up 210.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($2.71) EPS. On average, analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current year.

Insider Buying and Selling

In other Madrigal Pharmaceuticals news, CFO Mardi Dier sold 1,982 shares of the stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $430.87, for a total transaction of $853,984.34. Following the sale, the chief financial officer directly owned 12,490 shares of the company’s stock, valued at approximately $5,381,566.30. This trade represents a 13.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Rebecca Taub sold 491 shares of Madrigal Pharmaceuticals stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $431.94, for a total value of $212,082.54. Following the transaction, the director owned 452,213 shares of the company’s stock, valued at $195,328,883.22. The trade was a 0.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 55,612 shares of company stock valued at $28,326,065 in the last 90 days. 21.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. TD Cowen reaffirmed a “buy” rating on shares of Madrigal Pharmaceuticals in a research report on Monday, January 12th. The Goldman Sachs Group reissued a “buy” rating and set a $571.00 target price on shares of Madrigal Pharmaceuticals in a research report on Wednesday, January 14th. Oppenheimer lifted their price target on shares of Madrigal Pharmaceuticals from $600.00 to $650.00 and gave the stock an “outperform” rating in a report on Thursday, November 20th. Truist Financial increased their price objective on Madrigal Pharmaceuticals from $580.00 to $640.00 and gave the company a “buy” rating in a report on Wednesday, November 19th. Finally, B. Riley Financial boosted their target price on Madrigal Pharmaceuticals from $560.00 to $670.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Madrigal Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $685.31.

Madrigal Pharmaceuticals 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.