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BofA lowers its Price Target on Madrigal Pharmaceuticals, Inc. (MDGL)

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BofA lowers its Price Target on Madrigal Pharmaceuticals, Inc. (MDGL)


Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) is one of the 10 Best Under-the-Radar Stocks to Invest In.

On June 11, BofA lowered its price target on Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) to $542 from $550. It maintained a Neutral rating on the stock. The firm said Rezdiffra’s launch in MASH has impressed, but debate has shifted to whether that momentum can continue. The analyst reduced the firm’s 2028 Rezdiffra revenue forecast to $2.6 billion from $2.7 billion after discussions with key opinion leaders and prior management feedback.

Separately, on July 1, Ribo and Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) achieved the first candidate drug nomination milestone under their siRNA collaboration for MASH. Ribo said the partnership consists of multiple preclinical assets targeting liver diseases.

BofA lowers its Price Target on Madrigal Pharmaceuticals, Inc. (MDGL)

Li Ming Gan, Ribo’s co-CEO and Global R&D President, said the companies reached the milestone within months. It combined Madrigal’s clinical expertise in MASH with Ribo’s siRNA discovery and delivery capabilities. Both partners plan to speed up development of the novel therapy.

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) is a biopharmaceutical company. It delivers novel therapeutics for metabolic dysfunction-associated steatohepatitis in the United States.

While we acknowledge the potential of MDGL as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 33 Stocks That Should Double in 3 Years and Cathie Wood 2026 Portfolio: 10 Best Stocks to Buy.

Disclosure: None. Follow Insider Monkey on Google News.



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Here’s why Uniswap is betting on execution over higher LP incentives

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Here's why Uniswap is betting on execution over higher LP incentives


Competition among decentralized exchanges is increasingly forcing protocols to rethink the incentives that originally fueled DeFi’s rapid expansion. In fact, Uniswap [UNI] has become the latest to test that transition after proposing a reduction of up to 33% in V4 liquidity provider fee incentives. 

More importantly, Uniswap’s TVL stood at $3.02 billion while its monthly volume hovered near $36 billion at press time. This hinted at strong market leadership, despite intensifying competition from rival decentralized exchanges.

Source: DeFILlama

The proposal marks a clear departure from previous models. The V3 model used much higher percentages of each trade to incentivize early liquidity providers to quickly capitalize on its platform.

Instead, the protocol believes that a lower cost of trading, tighter spreads, and better capital usage will result in a sufficient increase in volume to offset reduced LP returns.

Source: Gov. Uniswap

That calculation carries meaningful risk. This, because liquidity providers can easily move capital to competing protocols offering stronger yields. If trading activity rises fast enough, the new model could strengthen Uniswap’s long-term competitiveness. 

And yet, weakening LP participation may pressure liquidity depth and reshape incentive structures across the wider DeFi ecosystem.

Uniswap strengthens stablecoin liquidity

That strategy is already taking shape through Uniswap’s integration of Sky’s LitePSM.

Rather than relying solely on liquidity provider rewards, the peg stability module enables zero-slippage routing between USDS, DAI, and USDC. The integration deepens liquidity, reduces execution costs, and allows larger trades to settle with minimal price impact.

Source: Uniswap on X

Also, it enhances Sky’s FX Layer by converting parity-based stablecoin routing into operational infrastructure. While these enhancements improve competitive positioning for Uniswap, infrastructure alone may not be sufficient to generate greater trading volumes.

However, lasting success will ultimately depend on whether lower execution friction attracts enough users and volume to offset reduced liquidity provider incentives.

Still, the real test for Uniswap now lies in market adoption rather than protocol design. Success will depend on whether stronger execution and higher trading volumes offset lower liquidity provider rewards.

If traders embrace the model, Uniswap could reinforce its leadership. Otherwise, rival DEXs may attract liquidity through more competitive incentives instead.


Final Summary

  • Uniswap [UNI] has proposed prioritizing execution over higher liquidity incentives.
  • Uniswap’s success now depends on trading volume, not liquidity incentives alone.



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BTC, ETH price news: What next as bitcoin zips to nearly $64,000

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BTC price news: Bitcoin retakes $63,000, reversing end-June losses

“Once liquidations begin to drive price action, the market can move faster than real demand would justify,” said Shawn Young, chief analyst at MEXC Research, who is watching how bitcoin trades inside the $60,000 to $63,000 band now that the first recovery is in.

MSCI’s Asia Pacific equities gauge climbed 1.4% as investors moved back into semiconductor shares on renewed optimism over AI demand, cutting the week’s loss to under 1%.

South Korea’s Kospi, a bellwether for AI investment, jumped 4%. SK Hynix was among the winners after pricing $26.5 billion of American depositary shares, one of the largest share sales of the year.

Gains were further extended as yen strengthened 0.6% and long-dated Japanese government bond yields fell after Finance Minister Satsuki Katayama said the government wants pension funds to increase their holdings of domestic assets. Bloomberg’s dollar gauge declined and is heading for a second consecutive weekly drop.

Nothing crypto-native moved bitcoin this week. There was no ETF flow of any size, no protocol event and no exchange failure. Bitcoin absorbed an oil shock, a global bond selloff, a hawkish repricing of Fed expectations and two rounds of U.S. strikes on Iran, and finished up 4.2% because Korean memory chips are in demand and the dollar is losing ground.



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JPMorgan to pursue smaller deals in latest growth push

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JPMorgan to pursue smaller deals in latest growth push


JPMorgan Chase (JPM) is well known for advising some of the world’s biggest companies on their most significant deals. Now the country’s largest bank is looking to get a piece of the smaller pies.

The banking giant said Wednesday it’s launching a dealmaking team catering to small-cap companies valued between $100 million and $500 million, according to an internal memo shared with Yahoo Finance.

The move expands JPMorgan’s middle-market investment banking group that targets companies between $500 million and $1 billion and currently includes a little under 400 bankers.

The new small-cap group will be based in key US cities, including New York, Los Angeles, Dallas, Chicago, and Atlanta. It’ll initially focus on companies in diversified industries, consumer and retail, and business services with plans to hire more than 75 bankers in over the near term.

The team will be led by new hire Michael Flynn, a veteran investment banker who formerly served as a managing director for middle-market investment banking boutique G2 Capital Advisors. 

The Wall Street Journal earlier reported the move.

The group will work with JPMorgan’s commercial bank and private bank, as well as its investment banking team focused on midcap private equity firms. That gives the new team access to JPMorgan’s existing banking relationships with smaller corporate clients.

It comes as JPMorgan and other big banks are pushing for growth amid a period of regulatory freedom and mega deals fueled by the AI frenzy.

JPMorgan remains deeply entrenched in the biggest end of Wall Street dealmaking. The bank has been among the biggest beneficiaries of this year’s capital markets boom. It has worked on major equity and M&A transactions tied to AI and infrastructure, such as SpaceX’s IPO last month and NextEra Energy Inc.’s merger with Dominion Energy Inc. earlier this year. 

But this latest push puts the country’s largest lender further into a territory that has traditionally been the domain of boutique firms and regional lenders.

Next week, JPMorgan and its big bank rivals will kick off earnings, with a key question being how durable Wall Street’s deal boom looks following the second quarter.

David Hollerith is a senior reporter at Yahoo Finance covering the cryptocurrency and stock markets. Follow him on X at @DsHollers.

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Tech Leaders Spotted at Allen & Co Conference in Sun Valley, Idaho

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Tech Leaders Spotted at Allen & Co Conference in Sun Valley, Idaho


Summer camp is back in session — if your bunkmates run the world’s biggest tech and media companies.

Tech CEOs are descending on Sun Valley, Idaho, as the annual Allen & Co. conference kicks off on Tuesday.

Known as “summer camp for billionaires,” the invite-only gathering is expected to draw leaders from Amazon, Apple, Meta, OpenAI, and other major media companies. Though discussions among invitees are kept confidential, Tim Armstrong, the CEO of Flowcode, previously told Business Insider that AI was the “1,000-pound gorilla” in “every conversation, every meeting” at last year’s conference.

Hundreds of private jets, bringing some of the world’s most influential executives, have been flocking to the mountain resort since Monday. Tim Burke, director of the Sun Valley Friedman Memorial Airport, told Business Insider he expects between 300 and 350 aircraft each day of the conference, more than four times the typical traffic.

Here are the CEOs and billionaires we’ve spotted in Sun Valley so far.

David Zaslav, President and CEO of Warner Bros. Discovery, waves at the camera


Kevin Dietsch/Getty Images

Zaslav arrived as Warner Bros. Discovery weighs major strategic changes after announcing plans to split into two stand-alone public companies, separating its streaming and studio business from its traditional cable networks.

Jerry Yang, former CEO of Yahoo, arrives at the conference


Former CEO of Yahoo Jerry Yang


Kevin Dietsch/Getty Images

The Yahoo cofounder remains a prominent investor through AME Cloud Ventures, backing AI and enterprise technology startups. Yang has become a regular fixture at Sun Valley as AI has emerged as the dominant topic among tech leaders.

Mary Barra, CEO of General Motors, walks past reporters after arriving


CEO of General Motors Mary Barra


Kevin Dietsch/Getty Images

Barra is steering GM through a slower-than-expected transition to electric vehicles while expanding its lineup of hybrid models. The automaker has also been investing heavily in autonomous driving and software as competition intensifies.

Bret Taylor, chairman of OpenAI, arrives at the Sun Valley Lodge


Chairman of OpenAI Bret Taylor


Kevin Dietsch/Getty Images

Taylor chairs OpenAI’s board while also leading Sierra, the AI startup he cofounded that builds customer service agents for businesses. His appearance comes as AI investment, infrastructure costs, and enterprise adoption remain top themes at this year’s conference.

Neal Mohan, CEO of YouTube, walks with a hot drink in hand


CEO of YouTube Neal Mohan


Kevin Dietsch/Getty Images

Mohan oversees YouTube as it continues to dominate streaming watch time and expand its business around Shorts, podcasts, and AI-powered creator tools. The platform remains a key player in the battle for digital advertising and entertainment audiences.

Bob Iger, former CEO of The Walt Disney Company, arrives at the annual gathering


Former CEO of The Walt Disney Company Bob Iger


Kevin Dietsch/Getty Images

Iger stepped down as Disney CEO in March after handing the reins to Josh D’Amaro, ending his second stint leading the entertainment giant. He remains a senior advisor and Disney board member through the end of 2026.

Ted Sarandos, co-CEO of Netflix, checks into the lodge


Co-CEO of Netflix Ted Sarandos


Kevin Dietsch/Getty Images

Sarandos leads Netflix as the streaming giant continues to invest in live events, advertising, and sports programming while maintaining its lead over traditional media rivals. Netflix remains a central player in conversations about the future of entertainment.

Ken Langone, cofounder of Home Depot, is greeted by Zaslav upon arrival


Co-founder of Home Depot Ken Langone (L)


Kevin Dietsch/Getty Images

The billionaire investor and Home Depot cofounder remains an influential voice in corporate America and philanthropy. Langone frequently weighs in on the economy, politics, and business leadership.

Barry Diller, chairman and senior executive of IAC, arrives on a bike


Chairman and Senior Executive of IAC Barry Diller


Kevin Dietsch/Getty Images

Arriving on a bike as he did in previous years, the veteran conference attendee has spent decades shaping the media industry through companies including IAC, Expedia, and Match Group.

Rob Manfred, MLB Commissioner, steps out of a van


MLB Commissioner Rob Manfred


Kevin Dietsch/Getty Images

Manfred is overseeing MLB’s efforts to expand streaming distribution and modernize the league’s media business, as sports rights remain among the entertainment industry’s most valuable assets.

John Henry, principal owner of Fenway Sports Group, heads into the lodge


Principal owner of Fenway Sports Group John Henry


Kevin Dietsch/Getty Images

Henry oversees Fenway Sports Group, whose portfolio includes the Boston Red Sox, Liverpool FC, and the Pittsburgh Penguins.

Kevin Warsh, chair of the Federal Reserve, arrives in a suit


Federal Reserve Chair Kevin Warsh arrives to the Allen & Company Sun Valley Conference at the Sun Valley Lodge on July 7, 2026 in Sun Valley, Idaho. Every year, some of the world's wealthiest and most powerful figures from the media, finance, technology, and political spheres converge at the Sun Valley


Kevin Dietsch/Getty Images

Warsh arrived in Sun Valley just weeks after taking over as chair of the Federal Reserve, replacing Jerome Powell. He’s taking over at a pivotal moment for the economy, with investors watching how he approaches inflation, interest rates, and the Fed’s independence.

Uber CEO Dara Khosrowshahi is seen chatting with Wendi Murdoch, former wife of Rupert Murdoch


SUN VALLEY, IDAHO - JULY 07: CEO of Uber Dara Khosrowshahi (L) speaks to Investor and Entrepreneur Wendi Murdoch as they attend the Allen & Company Sun Valley Conference at the Sun Valley Lodge on July 7, 2026 in Sun Valley, Idaho. Every year, some of the world's wealthiest and most powerful figures from the media, finance,


Kevin Dietsch/Getty Images

Khosrowshahi is steering Uber into its next phase as the company expands beyond rides into AI and autonomous vehicles. The CEO has been positioning Uber as a potential backbone for the future of self-driving transportation.

Wendi Murdoch, the ex-wife of media mogul Rupert Murdoch, returns to Sun Valley as a longtime attendee. She’s been investing in startups through her venture firm and remains connected to Silicon Valley and global business leaders.

Alex Karp, CEO of Palantir Technologies, flashes a peace sign


CEO of Palantir Technologies Alex Karp


Kevin Dietsch/Getty Images

Karp leads Palantir as the defense software company expands its AI business across government and commercial customers. The outspoken CEO has emerged as one of Silicon Valley’s most vocal figures on AI.

Josh D’Amaro, CEO of Disney, is seen chatting with Michael Kives, cofounder and managing partner of K5 Global


CEO of Disney Josh D'Amaro (C) and co-founder and managing partner of K5 Global Michael Kives (R)


Kevin Dietsch/Getty Images

D’Amaro is attending his first Sun Valley conference as Disney CEO after succeeding Bob Iger in March. He takes the helm as Disney focuses on streaming profitability, AI, and the expansion of its theme parks and entertainment businesses.

Kives arrives as one of Hollywood and Silicon Valley’s well-connected investors. Before co-founding K5 Global, he spent more than a decade as a talent agent at Creative Artists Agency and has built K5 into a venture firm known for backing tech companies.

Tim Cook, CEO of Apple, is seen walking with John Ternus, incoming CEO of Apple


SUN VALLEY, IDAHO - JULY 07: Tim Cook (L), CEO of Apple, walks with John Ternus, incoming CEO of Apple, at the Allen & Company Sun Valley Conference at the Sun Valley Lodge on July 7, 2026 in Sun Valley, Idaho. Every year, some of the world's wealthiest and most powerful figures from the media, finance, technology, and political spheres


Kevin Dietsch/Getty Images

Cook arrives as he prepares to step down as Apple’s CEO after nearly 15 years at the helm. He will hand the role to Apple hardware chief John Ternus in September while remaining with the company as executive chairman.

Sam Altman, CEO of OpenAI, waves as he walks into the conference


Sam Altman, chief executive officer and co-founder of OpenAI Inc., arrives for the Allen & Co. Media and Technology Conference in Sun Valley, Idaho, US, on Tuesday, July 7, 2026.


Bloomberg/Getty Images

Altman arrives as OpenAI continues its push to build the next generation of AI systems while expanding its business beyond ChatGPT. The CEO is helping lead one of the biggest technology races in decades as the company looks toward filing an IPO.

Andy Jassy, CEO of Amazon, with his wife Elena


Andy Jassy, president and CEO of Amazon, and his wife Elana Jassy arrive at the Allen & Company Sun Valley Conference at the Sun Valley Lodge on July 7, 2026 in Sun Valley, Idaho.


Kevin Dietsch/Getty Images

Amazon’s chief executive, Andy Jassy, arrived in Sun Valley dressed casually in a button-down shirt over a black T-shirt, accompanied by his wife, Elena Jassy.

Retail giant Amazon is cementing its place in the AI race after inking a $50 billion investment agreement with OpenAI in February.

Sheryl Sandberg, former COO of Meta


Sheryl Sandberg.


Bloomberg/Getty Images

Meta’s former operations chief, Sheryl Sandberg, was photographed in Sun Valley dressed comfortably in a white cardigan over a black tank top, with a to-go cup in hand.

Sandberg stepped down as COO in 2022 and from Meta’s board in 2024. She now runs a women’s nonprofit that she founded, as well as a venture capital firm, Sandberg Bernthal Venture Partners.

Reid Hoffman, cofounder of LinkedIn, arrives at the conference


Reid Hoffman, co-founder of LinkedIn, arrives at the Allen & Company Sun Valley Conference at the Sun Valley Lodge on July 7, 2026 in Sun Valley, Idaho.


Kevin Dietsch/Getty Images

LinkedIn cofounder Reid Hoffman was part of this year’s Sun Valley attendee list. Hoffman, who founded LinkedIn in 2003, launched Manas AI last year, a company that uses AI to accelerate drug research.

Joshua Kushner attended with his wife, Karlie Kloss


Josh Kushner, founder and CEO of Thrive Capital, and his wife Karlie Kloss attend the Allen & Company Sun Valley Conference at the Sun Valley Lodge on July 7, 2026 in Sun Valley, Idaho.


Kevin Dietsch/Getty Images

Billionaire venture capitalist Joshua Kushner, the founder and managing partner of Thrive Capital, was photographed hand in hand with his wife, supermodel Karlie Kloss.

Bill Gates, cofounder of Microsoft, rides in a golf cart with girlfriend Paula Hurd


Bill Gates, co-founded of Microsoft and co-chair of the Bill & Melinda Gates Foundation, and Paula Hurd ride in a golf cart


Kevin Dietsch/Getty Images

The semi-retired Microsoft cofounder continues to focus on AI, global health, and climate through the Gates Foundation.

Jeff Bezos, executive chairman of Amazon, attends the conference with his wife, Lauren Sánchez Bezos


Executive Chairman of Amazon Jeff Bezos and his wife Lauren Sánchez Bezos attend the Allen & Company Sun Valley Conference at the Sun Valley Lodge on July 9, 2026 in Sun Valley, Idaho. Every year, some of the world's wealthiest and most powerful figures from the media, finance, technology, and political spheres converge at the Sun Valley Resort for the exclusive week-long conference hosted by boutique investment bank Allen & Co. (Photo by Kevin Dietsch/Getty Images)


Kevin Dietsch/Getty Images

Bezos arrives as Amazon continues investing heavily in AI, cloud computing, and logistics. The billionaire stepped down as CEO in 2021 but remains closely involved in the company’s long-term strategy, overseeing Blue Origin and his other ventures.

Mark Zuckerberg, CEO of Meta, is seen walking with Dina Powell McCormick, a former US Deputy national security advisor, and two Meta executives


CEO of Meta Platforms Mark Zuckerberg, Chief Operating Officer of Meta Platforms Javier Olivan, former U.S. Deputy National Security Advisor Dina Powell McCormick and Chief Strategy Officer of Meta Platforms David Wehner


Kevin Dietsch/Getty Images

Zuckerberg attends the conference with a line-up of other Meta executives, including president and vice chair Powell McCormick, chief operating officer Javier Olivan, and chief strategy officer David Wehner. The CEO has made AI the company’s top priority, while continuing to expand its smart glasses and wearable tech businesses.

Bari Weiss, editor in chief of CBS News, is seen on the phone outside the Sun Valley lodge


Editor-in-chief of CBS News Bari Weiss


Kevin Dietsch/Getty Images

In one of the year’s biggest shake-ups in broadcast journalism, Weiss was named editor in chief of CBS News. The former opinion editor and founder of The Free Press now oversees the network’s news division.

Jared Kushner, CEO of Affinity Partners, is seen attending with his wife, Ivanka Trump


CEO of Affinity Partners Jared Kushner and Ivanka Trump


Kevin Dietsch/Getty Images

The former White House senior advisor and son-in-law to Donald Trump is a longtime attendee at Sun Valley. Kushner recently expanded his Miami-based investment firm’s portfolio while remaining involved in global affairs.





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Bitcoin price recovers – But ONE hurdle keeps BTC bulls on edge

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Bitcoin price recovers - But ONE hurdle keeps BTC bulls on edge


Bitcoin [BTC] is beginning to regain demand. This comes after weeks of persistent selling pressure weakened participation across both spot and derivatives markets.

Over the past week, the 30-day cumulative demand rebounded sharply from nearly -500,000 BTC to around -75,000 BTC. This shift signaled that risk appetite is gradually returning.

Source: CryptoQuant

Notably, futures demand recovered from roughly -295,000 BTC to slightly above neutral. Despite that, spot demand remained weak near -78,000 BTC, showing long-term investors are still waiting for stronger confirmation. Moreover, that divergence suggests traders are positioning for higher prices before meaningful capital enters the spot market.

Although sentiment has clearly improved, Bitcoin’s recovery will remain vulnerable until spot accumulation strengthens, reinforcing derivatives-driven momentum with broader investor conviction.

Downside fears begin to ease

Bitcoin’s options market nuances cautious spot participation, although investors are no longer pricing downside risk as aggressively compared to the previous sell-offs.

During the February and June selloffs, put implied volatility surged as traders rushed to hedge against deeper losses. July presents a different picture. In contrast, in July, as Bitcoin traded between $60,000 and $65,000, downside premiums have cooled noticeably.

Such a divergence indicates that expectations are shifting from another capitulation toward a slower bottoming process.

Source: Glassnode

This shift reflects a market that has already experienced significant declines over several months. As a result, reducing the urgency for costly downside protection. Even so, investors should be cautious since calmer options pricing does not necessarily translate to renewed conviction.

Additionally, ETF participation remains inconsistent while spot accumulation has fallen behind derivative demand. Therefore, until fresh capital flows back into spot markets, improved sentiment could face challenges in generating widespread buying needed for a durable recovery.

Distribution remains a market headwind

Even as downside fears continue easing, Bitcoin’s recovery is still meeting resistance from holders taking profits accumulated during the previous cycle. Long-term holder realized losses remain elevated on the 30-day Moving Average, although they have moderated from the extreme spikes recorded during the 2022 bear market.

Source: Glassnode

Meanwhile, realized profit and loss data shows short-term holders continue accounting for a larger share of market activity, reflecting uncertainty among newer investors as prices stabilize.

That combination suggests supply is gradually rotating from experienced holders to fresh participants rather than disappearing altogether. Furthermore, an increase in demand for bitcoin is absorbing most of the distribution of supply.

However, until long-term holder selling slows further, Bitcoin’s recovery is likely to remain gradual instead of accelerating into a sustained bullish trend.


Final Summary

  • Bitcoin recovery remains incomplete as spot demand continues trailing derivatives activity.
  • BTC still faces long-term holder selling despite easing downside fears and improving market sentiment.



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With SEC fight over, Coinbase’s top legal exec Grewal moves on, and others reassigned

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With SEC fight over, Coinbase's top legal exec Grewal moves on, and others reassigned

Coinbase Chief Legal Officer Paul Grewal is leaving the company after its high-profile, years-long legal fight with U.S. regulators, and the U.S. exchange also announced further changes to its senior leadership.

Grewal is departing to work at a startup, according to a Thursday announcement from Coinbase. Molly Abraham will now lead the company’s legal team as general counsel, and Ryan Van Grack will become vice chairman, in what’s anticipated to be a broader and more public-facing role.

“Leading Coinbase’s legal team through the biggest fight of our industry has been the single greatest achievement of my six-year tenure,” Grewal said in a statement. “Our legal wins helped ensure crypto not only had a future in this country, but could flourish.”

His statement continued on to say he would continue as an adviser to Coinbase, and would work on Coinbase’s trust charter work through the Office of the Comptroller of the Currency.

Abraham has been at Coinbase since March 2021, running multiple legal teams as the company’s vice president of legal. Prior to that, she was general counsel at an electric flying car startup, according to her LinkedIn.



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