Charles Schwab Investment Management Inc. Increases Stock Position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Charles Schwab Investment Management Inc. increased its position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 7.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 147,970 shares of the biopharmaceutical company’s stock after acquiring an additional 9,656 shares during the period. Charles Schwab Investment Management Inc. owned about 0.68% of Madrigal Pharmaceuticals worth $31,402,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in MDGL. Fiera Capital Corp purchased a new position in Madrigal Pharmaceuticals in the 2nd quarter worth approximately $32,335,000. Avoro Capital Advisors LLC raised its holdings in Madrigal Pharmaceuticals by 5.7% in the 2nd quarter. Avoro Capital Advisors LLC now owns 2,055,555 shares of the biopharmaceutical company’s stock worth $575,884,000 after acquiring an additional 111,111 shares during the last quarter. Point72 Asset Management L.P. raised its holdings in Madrigal Pharmaceuticals by 172.6% in the 2nd quarter. Point72 Asset Management L.P. now owns 40,958 shares of the biopharmaceutical company’s stock worth $11,475,000 after acquiring an additional 97,387 shares during the last quarter. Paulson & CO. Inc. raised its holdings in Madrigal Pharmaceuticals by 4.2% in the 2nd quarter. Paulson & CO. Inc. now owns 1,850,000 shares of the biopharmaceutical company’s stock worth $518,296,000 after acquiring an additional 75,000 shares during the last quarter. Finally, Fred Alger Management LLC raised its holdings in Madrigal Pharmaceuticals by 58.7% in the 2nd quarter. Fred Alger Management LLC now owns 102,455 shares of the biopharmaceutical company’s stock worth $28,704,000 after acquiring an additional 37,879 shares during the last quarter. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Madrigal Pharmaceuticals news, Director Fred B. Craves sold 3,400 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $350.30, for a total transaction of $1,191,020.00. Following the completion of the transaction, the director now owns 14,600 shares of the company’s stock, valued at $5,114,380. This represents a 18.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William John Sibold sold 6,363 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $243.83, for a total transaction of $1,551,490.29. Following the transaction, the chief executive officer now directly owns 55,887 shares of the company’s stock, valued at $13,626,927.21. This trade represents a 10.22 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,763 shares of company stock valued at $4,247,210. Company insiders own 22.80% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on MDGL shares. B. Riley boosted their target price on shares of Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Citigroup decreased their target price on shares of Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. HC Wainwright reiterated a “buy” rating and set a $390.00 target price on shares of Madrigal Pharmaceuticals in a research note on Tuesday, October 22nd. StockNews.com upgraded shares of Madrigal Pharmaceuticals to a “sell” rating in a research note on Saturday, October 12th. Finally, UBS Group boosted their target price on shares of Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Madrigal Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $347.33.

Madrigal Pharmaceuticals Trading Up 0.9 %

Shares of Madrigal Pharmaceuticals stock opened at $321.36 on Wednesday. The company has a market capitalization of $7.01 billion, a P/E ratio of -12.81 and a beta of -0.42. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.93 and a current ratio of 5.98. The company has a fifty day moving average of $266.13 and a 200 day moving average of $260.80. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $168.25 and a fifty-two week high of $368.29.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share for the quarter, topping the consensus estimate of ($6.94) by $2.02. The firm had revenue of $62.18 million during the quarter, compared to the consensus estimate of $34.60 million. During the same period in the prior year, the company posted ($5.34) EPS. On average, sell-side analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -24.08 earnings per share for the current fiscal year.

Madrigal Pharmaceuticals Company Profile

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.