Charles Schwab Investment Management Inc. Purchases 2,776 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Charles Schwab Investment Management Inc. raised its stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 1.9% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 150,746 shares of the biopharmaceutical company's stock after buying an additional 2,776 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.69% of Madrigal Pharmaceuticals worth $46,516,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Erste Asset Management GmbH bought a new stake in shares of Madrigal Pharmaceuticals during the third quarter valued at about $49,749,000. Paulson & CO. Inc. raised its stake 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 valued at $433,353,000 after purchasing an additional 192,000 shares in the last quarter. Braidwell LP bought a new stake in shares of Madrigal Pharmaceuticals during the third quarter valued at about $39,010,000. State Street Corp raised its stake in shares of Madrigal Pharmaceuticals by 19.2% during the third 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. Finally, RTW Investments LP raised its stake in shares of Madrigal Pharmaceuticals by 4.1% during the third quarter. RTW Investments LP now owns 1,993,687 shares of the biopharmaceutical company's stock valued at $423,100,000 after purchasing an additional 77,825 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors.

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Insider Activity

In related news, insider Carole Huntsman sold 347 shares of the business's stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $335.24, for a total value of $116,328.28. Following the completion of the sale, the insider now directly owns 10,438 shares in the company, valued at approximately $3,499,235.12. The trade was a 3.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director James M. Daly sold 15,470 shares of the company's stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $347.45, for a total value of $5,375,051.50. Following the transaction, the director now owns 1,912 shares of the company's stock, valued at approximately $664,324.40. This trade represents a 89.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,900 shares of company stock worth $12,168,079 in the last three months. 22.80% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on MDGL shares. B. Riley upgraded shares of Madrigal Pharmaceuticals from a "hold" rating to a "strong-buy" rating and lifted their price objective for the company from $236.00 to $422.00 in a research note on Thursday, February 27th. Citigroup lifted their target price on 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 set a $427.00 target price on shares of Madrigal Pharmaceuticals in a report on Friday, January 10th. Cantor Fitzgerald reaffirmed a "neutral" rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, November 20th. Finally, HC Wainwright lifted their target price on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Madrigal Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average target price of $378.44.

Madrigal Pharmaceuticals Stock Down 1.1 %

Shares of Madrigal Pharmaceuticals stock traded down $3.90 during trading on Tuesday, hitting $338.54. 167,836 shares of the stock traded hands, compared to its average volume of 396,196. The stock has a market cap of $7.47 billion, a P/E ratio of -13.50 and a beta of -0.40. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.93 and a current ratio of 5.98. Madrigal Pharmaceuticals, Inc. has a twelve month low of $189.00 and a twelve month high of $377.46. The company has a fifty day moving average price of $326.98 and a two-hundred day moving average price of $291.44.

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

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.