Charles Schwab Investment Management Inc. Has $46.52 Million Stock Position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Charles Schwab Investment Management Inc. boosted its position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 1.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 150,746 shares of the biopharmaceutical company’s stock after purchasing an additional 2,776 shares during the period. Charles Schwab Investment Management Inc. owned about 0.69% of Madrigal Pharmaceuticals worth $46,516,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of MDGL. Paulson & CO. Inc. increased its holdings in shares of 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 purchasing an additional 192,000 shares during the period. RTW Investments LP boosted its stake in Madrigal Pharmaceuticals by 4.1% in the third quarter. RTW Investments LP now owns 1,993,687 shares of the biopharmaceutical company’s stock valued at $423,100,000 after buying an additional 77,825 shares in the last quarter. State Street Corp boosted its stake in shares of Madrigal Pharmaceuticals by 19.2% in the 3rd quarter. State Street Corp now owns 887,752 shares of the biopharmaceutical company’s stock valued at $188,399,000 after purchasing an additional 143,038 shares in the last quarter. Geode Capital Management LLC increased its position in Madrigal Pharmaceuticals by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 405,655 shares of the biopharmaceutical company’s stock worth $86,104,000 after purchasing an additional 5,801 shares in the last quarter. Finally, Erste Asset Management GmbH acquired a new stake in Madrigal Pharmaceuticals in the third quarter valued at approximately $49,749,000. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO William John Sibold sold 1,584 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $335.24, for a total transaction of $531,020.16. Following the sale, the chief executive officer now directly owns 54,303 shares in the company, valued at approximately $18,204,537.72. This represents a 2.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Robert E. Waltermire sold 14,113 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $341.32, for a total value of $4,817,049.16. Following the sale, the vice president now owns 3,728 shares in the company, valued at approximately $1,272,440.96. This represents a 79.10 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 35,900 shares of company stock worth $12,168,079. 22.80% of the stock is owned by insiders.

Madrigal Pharmaceuticals Stock Performance

Shares of Madrigal Pharmaceuticals stock opened at $348.35 on Friday. Madrigal Pharmaceuticals, Inc. has a 52 week low of $189.00 and a 52 week high of $377.46. The company has a quick ratio of 5.93, a current ratio of 5.98 and a debt-to-equity ratio of 0.15. The business has a 50 day moving average price of $326.55 and a 200-day moving average price of $290.25. The company has a market cap of $7.69 billion, a PE ratio of -13.89 and a beta of -0.41.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings results on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) EPS for the quarter, beating analysts’ consensus estimates of ($4.32) by $1.61. The company had revenue of $103.32 million during the quarter, compared to analysts’ expectations of $97.81 million. Equities analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on MDGL shares. Citigroup boosted their target price on shares of Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. JMP Securities reaffirmed a “market outperform” rating and issued a $427.00 price objective on shares of Madrigal Pharmaceuticals in a research note on Friday, January 10th. Cantor Fitzgerald restated a “neutral” rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, November 20th. HC Wainwright upped their price objective on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Finally, B. Riley upgraded shares of Madrigal Pharmaceuticals from a “hold” rating to a “strong-buy” rating and increased their price objective for the stock from $236.00 to $422.00 in a research report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Madrigal Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $379.36.

Madrigal Pharmaceuticals 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.