During the third quarter, Gladstone Institutional Advisory LLC established a new position of 1,093 shares in Madrigal Pharmaceuticals, representing an approximate $501,000 allocation in the biopharmaceutical firm. This marks Gladstone’s first reported investment in Madrigal and underscores growing institutional interest in the company’s late-stage pipeline assets.

Several other major investors significantly adjusted their Madrigal holdings in the latest filings. Adage Capital Partners GP L.L.C. increased its stake by 96.3%, adding 184,554 shares for a total holding of 376,163 shares. Norges Bank initiated a new position valued at roughly $53.4 million. Invesco Ltd. boosted its position by 50.7%, acquiring an additional 67,422 shares. BNP Paribas Financial Markets expanded its stake by 1,886.1%, and Artisan Partners Limited Partnership added 63,833 shares for a 46.3% increase. Collectively, hedge funds and other institutions now control 98.50% of Madrigal’s outstanding shares.

In recent months, company insiders have trimmed their holdings substantially. Director Carole Huntsman sold 1,958 shares, while Chief Financial Officer Mardi Dier disposed of 4,173 shares, together reducing insider ownership by more than 16% and 28%, respectively. Over the last quarter, insiders have sold a total of 77,056 shares, equivalent to roughly one-fifth of total insider-held stock, signaling profit-taking activity ahead of key clinical readouts.

Madrigal remains a clinical-stage biopharmaceutical company targeting cardiovascular, metabolic and liver diseases. Its lead candidate, resmetirom (MGL-3196), is an orally administered, selective thyroid hormone receptor-β agonist in Phase 3 development for nonalcoholic steatohepatitis (NASH). The company’s strategy centers on novel, liver-directed therapies addressing significant unmet needs in NASH and related metabolic disorders, with resmetirom positioned as the potential first oral agent to demonstrate both histological and metabolic improvements in late-stage trials.