Wellington Management Group LLP Has $2.52 Million Stock Holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Wellington Management Group LLP lowered its position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 9.5% in the fourth quarter, HoldingsChannel reports. The firm owned 8,172 shares of the biopharmaceutical company’s stock after selling 859 shares during the period. Wellington Management Group LLP’s holdings in Madrigal Pharmaceuticals were worth $2,522,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in shares of Madrigal Pharmaceuticals by 1.5% during the third quarter. Geode Capital Management LLC now owns 405,655 shares of the biopharmaceutical company’s stock worth $86,104,000 after buying an additional 5,801 shares in the last quarter. Newbridge Financial Services Group Inc. bought a new stake in Madrigal Pharmaceuticals during the 4th quarter worth approximately $1,297,000. Barclays PLC increased its holdings in Madrigal Pharmaceuticals by 159.9% during the 3rd quarter. Barclays PLC now owns 40,279 shares of the biopharmaceutical company’s stock valued at $8,549,000 after purchasing an additional 24,783 shares in the last quarter. Prudential Financial Inc. raised its position in Madrigal Pharmaceuticals by 166.2% in the 4th 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 during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Madrigal Pharmaceuticals by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 150,746 shares of the biopharmaceutical company’s stock worth $46,516,000 after purchasing an additional 2,776 shares in the last quarter. 98.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MDGL has been the subject of a number of research reports. B. Riley upgraded Madrigal Pharmaceuticals from a “hold” rating to a “strong-buy” rating and raised their target price for the company from $236.00 to $422.00 in a research note on Thursday, February 27th. JMP Securities reaffirmed a “market outperform” rating and issued a $427.00 target price on shares of Madrigal Pharmaceuticals in a research note on Friday, January 10th. Citigroup increased their price target on shares of 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 raised their price target on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, one has assigned 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 an average rating of “Moderate Buy” and a consensus target price of $378.44.

Insiders Place Their Bets

In related news, 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 value of $461,789.49. Following the sale, the chief marketing officer now directly owns 457,310 shares in the company, valued at $125,033,127.10. This trade represents a 0.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Robert E. Waltermire sold 14,113 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $341.32, for a total transaction of $4,817,049.16. Following the transaction, the vice president now owns 3,728 shares of the company’s stock, valued at approximately $1,272,440.96. This represents a 79.10 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,900 shares of company stock worth $12,168,079. Insiders own 22.80% of the company’s stock.

Madrigal Pharmaceuticals Price Performance

Shares of MDGL stock opened at $317.15 on Friday. The firm’s 50 day moving average price is $331.33 and its two-hundred day moving average price is $303.74. 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 52-week low of $189.00 and a 52-week high of $377.46. The stock has a market cap of $7.00 billion, a PE ratio of -12.65 and a beta of -0.69.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings results on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) earnings per share (EPS) for the quarter, topping the consensus estimate of ($4.32) by $1.61. The company had revenue of $103.32 million during the quarter, compared to the consensus estimate of $97.81 million. As a group, analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current 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.