Teacher Retirement System of Texas Has $1.19 Million Stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Teacher Retirement System of Texas grew its holdings in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 20.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,859 shares of the biopharmaceutical company’s stock after acquiring an additional 652 shares during the period. Teacher Retirement System of Texas’ holdings in Madrigal Pharmaceuticals were worth $1,191,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Victory Capital Management Inc. grew its stake in Madrigal Pharmaceuticals by 1.8% during the third quarter. Victory Capital Management Inc. now owns 2,292 shares of the biopharmaceutical company’s stock worth $486,000 after purchasing an additional 40 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Madrigal Pharmaceuticals by 7.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 147,970 shares of the biopharmaceutical company’s stock worth $31,402,000 after buying an additional 9,656 shares during the period. BNP Paribas Financial Markets increased its stake in shares of Madrigal Pharmaceuticals by 97.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 9,767 shares of the biopharmaceutical company’s stock valued at $2,073,000 after acquiring an additional 4,811 shares in the last quarter. Martingale Asset Management L P acquired a new position in shares of Madrigal Pharmaceuticals during the 3rd quarter valued at $1,223,000. Finally, Paulson & CO. Inc. boosted its stake in Madrigal Pharmaceuticals by 10.4% during the third quarter. Paulson & CO. Inc. now owns 2,042,000 shares of the biopharmaceutical company’s stock worth $433,353,000 after acquiring an additional 192,000 shares in the last quarter. 98.50% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO William John Sibold sold 1,584 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $335.24, for a total value of $531,020.16. Following the sale, the chief executive officer now owns 54,303 shares of the company’s stock, valued at approximately $18,204,537.72. The trade was a 2.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Robert E. Waltermire sold 442 shares of the stock in a transaction on Friday, January 17th. The shares were sold at an average price of $273.41, for a total value of $120,847.22. Following the transaction, the vice president now directly owns 5,058 shares of the company’s stock, valued at approximately $1,382,907.78. This trade represents a 8.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,900 shares of company stock valued at $12,168,079. Insiders own 22.80% of the company’s stock.

Madrigal Pharmaceuticals Stock Performance

Shares of MDGL stock opened at $327.87 on Friday. Madrigal Pharmaceuticals, Inc. has a one year low of $189.00 and a one year high of $377.46. The company has a market cap of $7.24 billion, a P/E ratio of -13.07 and a beta of -0.41. The firm has a 50-day moving average of $332.93 and a 200-day moving average of $297.12. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.98 and a quick ratio of 5.93.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its earnings results on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) EPS for the quarter, topping the consensus estimate of ($4.32) by $1.61. The firm had revenue of $103.32 million for the quarter, compared to the consensus estimate of $97.81 million. Equities research analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current fiscal year.

Analyst Ratings Changes

MDGL has been the subject of several research analyst reports. B. Riley raised shares of Madrigal Pharmaceuticals from a “hold” rating to a “strong-buy” rating and lifted their price target for the company from $236.00 to $422.00 in a research note on Thursday, February 27th. Citigroup increased their price target on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. HC Wainwright lifted their price target on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Finally, JMP Securities restated a “market outperform” rating and set a $427.00 price objective on shares of Madrigal Pharmaceuticals in a report on Friday, January 10th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $378.44.

About Madrigal Pharmaceuticals

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.