Charles Schwab Investment Management Inc. Grows Position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Charles Schwab Investment Management Inc. boosted its stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 0.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 151,251 shares of the biopharmaceutical company’s stock after acquiring an additional 505 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Madrigal Pharmaceuticals were worth $50,099,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. American Assets Investment Management LLC acquired a new stake in Madrigal Pharmaceuticals during the 1st quarter worth approximately $1,491,000. Accent Capital Management LLC acquired a new stake in shares of Madrigal Pharmaceuticals in the 1st quarter valued at approximately $25,000. Earned Wealth Advisors LLC acquired a new stake in shares of Madrigal Pharmaceuticals in the 1st quarter valued at approximately $802,000. Blair William & Co. IL acquired a new stake in shares of Madrigal Pharmaceuticals in the 1st quarter valued at approximately $332,000. Finally, Blueshift Asset Management LLC acquired a new stake in shares of Madrigal Pharmaceuticals in the 1st quarter valued at approximately $406,000. 98.50% of the stock is owned by institutional investors and hedge funds.

Madrigal Pharmaceuticals Stock Performance

NASDAQ MDGL opened at $369.84 on Friday. Madrigal Pharmaceuticals, Inc. has a 1-year low of $200.63 and a 1-year high of $377.46. The company has a market capitalization of $8.21 billion, a P/E ratio of -28.78 and a beta of -1.02. The business has a 50 day moving average price of $310.35 and a 200 day moving average price of $314.35. The company has a debt-to-equity ratio of 0.17, a current ratio of 5.11 and a quick ratio of 4.78.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported ($1.90) earnings per share for the quarter, beating the consensus estimate of ($3.48) by $1.58. Madrigal Pharmaceuticals had a negative return on equity of 38.38% and a negative net margin of 54.68%. The firm had revenue of $212.80 million during the quarter, compared to the consensus estimate of $158.94 million. During the same period last year, the business posted ($7.10) EPS. Madrigal Pharmaceuticals’s quarterly revenue was up 1357.5% on a year-over-year basis. Sell-side analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on MDGL. Wall Street Zen raised Madrigal Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Monday, May 5th. B. Riley reissued a “buy” rating and issued a $460.00 price target (up from $422.00) on shares of Madrigal Pharmaceuticals in a report on Friday, May 2nd. Canaccord Genuity Group raised their price target on Madrigal Pharmaceuticals from $420.00 to $428.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. UBS Group reissued a “buy” rating and issued a $523.00 price target (up from $458.00) on shares of Madrigal Pharmaceuticals in a report on Tuesday, August 12th. Finally, JMP Securities reissued a “market outperform” rating and issued a $443.00 price target on shares of Madrigal Pharmaceuticals in a report on Thursday, April 24th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $439.71.

Insider Activity at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, Director Paul A. Friedman sold 129,172 shares of the firm’s stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $370.24, for a total transaction of $47,824,641.28. Following the completion of the transaction, the director owned 187,164 shares of the company’s stock, valued at approximately $69,295,599.36. This trade represents a 40.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Kenneth Bate sold 10,000 shares of the firm’s stock in a transaction on Friday, August 15th. The stock was sold at an average price of $365.20, for a total value of $3,652,000.00. Following the transaction, the director directly owned 2,627 shares of the company’s stock, valued at $959,380.40. The trade was a 79.20% decrease in their position. The disclosure for this sale can be found here. Insiders sold 292,820 shares of company stock valued at $105,933,936 in the last ninety days. Corporate insiders own 21.50% of the company’s stock.

Madrigal Pharmaceuticals Company 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.