Geode Capital Management LLC Grows Position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Geode Capital Management LLC boosted its position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 1.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 410,578 shares of the biopharmaceutical company's stock after buying an additional 4,923 shares during the quarter. Geode Capital Management LLC owned approximately 1.88% of Madrigal Pharmaceuticals worth $126,719,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Franklin Resources Inc. raised its stake in shares of Madrigal Pharmaceuticals by 340.1% during the 4th quarter. Franklin Resources Inc. now owns 6,087 shares of the biopharmaceutical company's stock worth $1,878,000 after buying an additional 4,704 shares during the period. Pictet Asset Management Holding SA raised its position in Madrigal Pharmaceuticals by 38.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 208,484 shares of the biopharmaceutical company's stock worth $64,332,000 after acquiring an additional 57,886 shares during the period. Norges Bank purchased a new position in Madrigal Pharmaceuticals during the fourth quarter valued at $35,514,000. Prudential Financial Inc. lifted its holdings in Madrigal Pharmaceuticals by 166.2% during the fourth quarter. Prudential Financial Inc. now owns 3,655 shares of the biopharmaceutical company's stock valued at $1,128,000 after purchasing an additional 2,282 shares in the last quarter. Finally, LPL Financial LLC increased its stake in shares of Madrigal Pharmaceuticals by 10.1% during the fourth quarter. LPL Financial LLC now owns 5,220 shares of the biopharmaceutical company's stock worth $1,611,000 after purchasing an additional 480 shares in the last quarter. Hedge funds and other institutional investors own 98.50% of the company's stock.

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Insider Transactions at Madrigal Pharmaceuticals

In other news, CEO William John Sibold sold 1,584 shares of the stock in a transaction dated 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 owns 54,303 shares of the company's stock, valued at approximately $18,204,537.72. This represents a 2.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Robert E. Waltermire sold 442 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $273.41, for a total transaction of $120,847.22. Following the completion of the transaction, the vice president now owns 5,058 shares of the company's stock, valued at $1,382,907.78. This trade represents a 8.04 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,900 shares of company stock worth $12,168,079. 22.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MDGL. JMP Securities reaffirmed a "market outperform" rating and issued a $427.00 price target on shares of Madrigal Pharmaceuticals in a research note on Friday, January 10th. B. Riley raised Madrigal Pharmaceuticals from a "hold" rating to a "strong-buy" rating and lifted their price target for the stock from $236.00 to $422.00 in a research note on Thursday, February 27th. Citigroup increased their price objective on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Finally, HC Wainwright upped their target price on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $378.44.

Madrigal Pharmaceuticals Trading Up 2.4 %

Madrigal Pharmaceuticals stock traded up $7.62 during mid-day trading on Monday, hitting $324.77. The company's stock had a trading volume of 27,065 shares, compared to its average volume of 391,417. Madrigal Pharmaceuticals, Inc. has a 1 year low of $189.00 and a 1 year high of $377.46. 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 capitalization of $7.17 billion, a PE ratio of -12.95 and a beta of -0.69. The stock's fifty day moving average is $331.33 and its two-hundred day moving average is $304.37.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $103.32 million during the quarter, compared to analysts' expectations of $97.81 million. On average, analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current year.

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.