Schroder Investment Management Group Reduces Stock Holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Schroder Investment Management Group lessened its stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 47.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 11,047 shares of the biopharmaceutical company’s stock after selling 9,795 shares during the period. Schroder Investment Management Group’s holdings in Madrigal Pharmaceuticals were worth $3,442,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. BNP Paribas Financial Markets raised its stake in shares of Madrigal Pharmaceuticals by 97.1% in the third quarter. BNP Paribas Financial Markets now owns 9,767 shares of the biopharmaceutical company’s stock valued at $2,073,000 after acquiring an additional 4,811 shares during the period. State Street Corp boosted its position 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 buying an additional 143,038 shares during the period. Wellington Management Group LLP bought a new position in shares of Madrigal Pharmaceuticals during the third quarter valued at approximately $1,917,000. XTX Topco Ltd purchased a new stake in shares of Madrigal Pharmaceuticals in the third quarter worth approximately $1,036,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Madrigal Pharmaceuticals during the 3rd quarter worth approximately $368,000. 98.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other news, Director James M. Daly sold 15,470 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Thursday, February 27th. The shares were 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 $664,324.40. The trade was a 89.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Rebecca Taub sold 1,689 shares of the 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 $461,789.49. Following the sale, the chief marketing officer now directly owns 457,310 shares of the company’s stock, valued at $125,033,127.10. The trade was a 0.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,900 shares of company stock worth $12,168,079 over the last quarter. Insiders own 22.80% of the company’s stock.

Analyst Ratings Changes

MDGL has been the topic of several research analyst reports. B. Riley raised Madrigal Pharmaceuticals from a “hold” rating to a “strong-buy” rating and upped their price objective for the company from $236.00 to $422.00 in a research report on Thursday, February 27th. JMP Securities reiterated a “market outperform” rating and set a $427.00 price objective on shares of Madrigal Pharmaceuticals in a report on Friday, January 10th. HC Wainwright boosted their price objective on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Finally, Citigroup raised their target price on shares of Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Two analysts have rated the stock with a sell rating, one has given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $378.44.

Madrigal Pharmaceuticals Stock Performance

Shares of MDGL stock opened at $314.39 on Friday. The firm has a market cap of $6.94 billion, a price-to-earnings ratio of -12.54 and a beta of -0.68. 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 company’s 50 day moving average is $333.68 and its 200 day moving average is $300.30.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings results on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) earnings per share (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. On average, sell-side analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current fiscal 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.