1,130 Shares in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Purchased by Overbrook Management Corp

Overbrook Management Corp bought a new stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,130 shares of the biopharmaceutical company’s stock, valued at approximately $302,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Tower Research Capital LLC TRC boosted its position in Madrigal Pharmaceuticals by 21.7% during the third quarter. Tower Research Capital LLC TRC now owns 2,060 shares of the biopharmaceutical company’s stock worth $301,000 after purchasing an additional 367 shares during the period. Glenmede Trust Co. NA raised its position in Madrigal Pharmaceuticals by 53.2% during the third quarter. Glenmede Trust Co. NA now owns 1,567 shares of the biopharmaceutical company’s stock valued at $229,000 after purchasing an additional 544 shares in the last quarter. Rhenman & Partners Asset Management AB purchased a new position in shares of Madrigal Pharmaceuticals during the 4th quarter valued at about $5,206,000. Charles Schwab Investment Management Inc. raised its stake in shares of Madrigal Pharmaceuticals by 11.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 109,501 shares of the biopharmaceutical company’s stock worth $15,992,000 after acquiring an additional 11,083 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Madrigal Pharmaceuticals by 7.4% in the 3rd quarter. Vanguard Group Inc. now owns 1,573,338 shares of the biopharmaceutical company’s stock worth $229,770,000 after purchasing an additional 107,816 shares during the period. 98.50% of the stock is owned by institutional investors.

Madrigal Pharmaceuticals Stock Up 3.7 %

Shares of Madrigal Pharmaceuticals stock traded up $10.30 during midday trading on Thursday, hitting $285.66. The company had a trading volume of 252,955 shares, compared to its average volume of 519,224. Madrigal Pharmaceuticals, Inc. has a 52-week low of $119.76 and a 52-week high of $299.98. The company has a debt-to-equity ratio of 0.14, a quick ratio of 9.39 and a current ratio of 9.39. The stock has a market capitalization of $6.09 billion, a P/E ratio of -12.37 and a beta of -0.41. The company has a 50 day moving average of $237.06 and a 200 day moving average of $236.15.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($7.38) EPS for the quarter, missing analysts’ consensus estimates of ($6.06) by ($1.32). During the same period in the previous year, the firm earned ($4.23) earnings per share. On average, equities analysts predict that Madrigal Pharmaceuticals, Inc. will post -27.62 earnings per share for the current fiscal year.

Insider Activity at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, CMO Rebecca Taub sold 27,506 shares of the company’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $243.36, for a total value of $6,693,860.16. Following the completion of the transaction, the chief marketing officer now directly owns 458,999 shares in the company, valued at $111,701,996.64. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CMO Rebecca Taub sold 27,506 shares of the company’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $243.36, for a total value of $6,693,860.16. Following the completion of the transaction, the chief marketing officer now owns 458,999 shares of the company’s stock, valued at approximately $111,701,996.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Robert E. Waltermire sold 1,036 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $231.34, for a total value of $239,668.24. Following the sale, the vice president now directly owns 5,500 shares in the company, valued at $1,272,370. The disclosure for this sale can be found here. In the last ninety days, insiders sold 173,921 shares of company stock worth $37,491,547. 23.92% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Oppenheimer increased their target price on shares of Madrigal Pharmaceuticals from $320.00 to $375.00 and gave the stock an “outperform” rating in a report on Friday, March 15th. Citigroup decreased their target price on Madrigal Pharmaceuticals from $389.00 to $382.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Bank of America began coverage on shares of Madrigal Pharmaceuticals in a report on Monday, April 22nd. They issued an “underperform” rating and a $150.00 price target on the stock. JMP Securities decreased their price target on shares of Madrigal Pharmaceuticals from $397.00 to $381.00 and set a “market outperform” rating for the company in a research note on Wednesday, May 8th. Finally, TD Cowen lifted their price objective on Madrigal Pharmaceuticals from $349.00 to $390.00 and gave the company an “outperform” rating in a research report on Friday, March 15th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $348.17.

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.