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

Charles Schwab Investment Management Inc. grew its holdings in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 7.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 147,970 shares of the biopharmaceutical company’s stock after acquiring an additional 9,656 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Madrigal Pharmaceuticals were worth $31,402,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. grew its stake in shares of Madrigal Pharmaceuticals by 2.1% during the third quarter. Oppenheimer Asset Management Inc. now owns 1,507 shares of the biopharmaceutical company’s stock valued at $320,000 after buying an additional 31 shares during the last quarter. Signaturefd LLC grew its stake in shares of Madrigal Pharmaceuticals by 36.8% during the second quarter. Signaturefd LLC now owns 145 shares of the biopharmaceutical company’s stock valued at $41,000 after buying an additional 39 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Madrigal Pharmaceuticals by 1.8% during the third quarter. Victory Capital Management Inc. now owns 2,292 shares of the biopharmaceutical company’s stock valued at $486,000 after buying an additional 40 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Madrigal Pharmaceuticals by 47.6% during the third quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock valued at $45,000 after buying an additional 68 shares during the last quarter. Finally, Creative Planning grew its stake in shares of Madrigal Pharmaceuticals by 2.7% during the third quarter. Creative Planning now owns 3,299 shares of the biopharmaceutical company’s stock valued at $700,000 after buying an additional 87 shares during the last quarter. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MDGL. B. Riley upped their target price on Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. HC Wainwright reaffirmed a “buy” rating and set a $390.00 target price on shares of Madrigal Pharmaceuticals in a research note on Tuesday, October 22nd. Evercore ISI dropped their price objective on Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Cantor Fitzgerald reissued a “neutral” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, November 20th. Finally, StockNews.com raised Madrigal Pharmaceuticals to a “sell” rating in a research note on Saturday, October 12th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Madrigal Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $347.33.

Madrigal Pharmaceuticals Stock Performance

Shares of MDGL opened at $321.36 on Wednesday. Madrigal Pharmaceuticals, Inc. has a 12 month low of $168.25 and a 12 month high of $368.29. The stock has a fifty day moving average price of $266.13 and a 200-day moving average price of $260.80. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15. The firm has a market cap of $7.01 billion, a PE ratio of -12.81 and a beta of -0.42.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($4.92) EPS for the quarter, beating the consensus estimate of ($6.94) by $2.02. The business had revenue of $62.18 million for the quarter, compared to analysts’ expectations of $34.60 million. During the same quarter in the prior year, the company posted ($5.34) EPS. Equities research analysts predict that Madrigal Pharmaceuticals, Inc. will post -24.08 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Fred B. Craves sold 3,400 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $350.30, for a total value of $1,191,020.00. Following the completion of the transaction, the director now owns 14,600 shares in the company, valued at $5,114,380. This trade represents a 18.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William John Sibold sold 6,363 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $243.83, for a total value of $1,551,490.29. Following the completion of the transaction, the chief executive officer now 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 worth $4,247,210. Insiders own 22.80% of the company’s stock.

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.