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

Charles Schwab Investment Management Inc. raised its holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 7.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 147,970 shares of the biopharmaceutical company's stock after purchasing an additional 9,656 shares during the period. Charles Schwab Investment Management Inc. owned 0.68% of Madrigal Pharmaceuticals worth $31,402,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of MDGL. First Horizon Advisors Inc. grew its position in shares of Madrigal Pharmaceuticals by 1,633.3% in the second quarter. First Horizon Advisors Inc. now owns 104 shares of the biopharmaceutical company's stock valued at $29,000 after purchasing an additional 98 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of Madrigal Pharmaceuticals by 36.8% in the second quarter. Signaturefd LLC now owns 145 shares of the biopharmaceutical company's stock worth $41,000 after buying an additional 39 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Madrigal Pharmaceuticals by 47.6% in the third quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company's stock worth $45,000 after buying an additional 68 shares in the last quarter. Quest Partners LLC lifted its holdings in shares of Madrigal Pharmaceuticals by 5,225.0% in the second quarter. Quest Partners LLC now owns 213 shares of the biopharmaceutical company's stock worth $60,000 after buying an additional 209 shares in the last quarter. Finally, Comerica Bank lifted its holdings in shares of Madrigal Pharmaceuticals by 615.4% in the first quarter. Comerica Bank now owns 372 shares of the biopharmaceutical company's stock worth $99,000 after buying an additional 320 shares in the last quarter. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Madrigal Pharmaceuticals Trading Down 0.9 %

Shares of Madrigal Pharmaceuticals stock traded down $2.88 on Wednesday, hitting $318.48. The stock had a trading volume of 217,708 shares, compared to its average volume of 440,639. The company has a quick ratio of 5.93, a current ratio of 5.98 and a debt-to-equity ratio of 0.15. Madrigal Pharmaceuticals, Inc. has a one year low of $168.25 and a one year high of $368.29. The stock has a market cap of $6.95 billion, a price-to-earnings ratio of -13.03 and a beta of -0.42. The stock's 50-day simple moving average is $266.13 and its two-hundred day simple moving average is $260.80.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last issued its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share (EPS) 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 quarter in the prior year, the business posted ($5.34) EPS. As a group, sell-side analysts predict that Madrigal Pharmaceuticals, Inc. will post -24.08 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MDGL. Oppenheimer lowered their price target on shares of Madrigal Pharmaceuticals from $375.00 to $350.00 and set an "outperform" rating on the stock in a report on Wednesday, October 23rd. StockNews.com raised shares of Madrigal Pharmaceuticals to a "sell" rating in a report on Saturday, October 12th. B. Riley raised 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. UBS Group raised 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. Finally, Evercore ISI lowered their target price on shares of Madrigal Pharmaceuticals from $405.00 to $360.00 and set an "outperform" rating on the stock in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $347.33.

Insider Transactions at Madrigal Pharmaceuticals

In related news, CEO William John Sibold sold 6,363 shares of Madrigal Pharmaceuticals stock in a transaction on Monday, September 9th. The shares were sold at an average price of $243.83, for a total value of $1,551,490.29. Following the sale, the chief executive officer now owns 55,887 shares in the company, valued at $13,626,927.21. The trade was a 10.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Fred B. Craves sold 3,400 shares of Madrigal Pharmaceuticals stock in a transaction on 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 sale, the director now owns 14,600 shares in the company, valued at approximately $5,114,380. This trade represents a 18.89 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have 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.