Rheos Capital Works Inc. Buys New Shares in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Rheos Capital Works Inc. purchased a new position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGLFree Report) in the first quarter, HoldingsChannel.com reports. The firm purchased 110,215 shares of the biopharmaceutical company’s stock, valued at approximately $29,432,000. Madrigal Pharmaceuticals comprises 1.4% of Rheos Capital Works Inc.’s portfolio, making the stock its 19th biggest holding.

Other hedge funds have also recently made changes to their positions in the company. Tower Research Capital LLC TRC grew its stake in Madrigal Pharmaceuticals by 21.7% in the third quarter. Tower Research Capital LLC TRC now owns 2,060 shares of the biopharmaceutical company’s stock valued at $301,000 after acquiring an additional 367 shares during the period. Glenmede Trust Co. NA increased its stake in Madrigal Pharmaceuticals by 53.2% during the 3rd 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 bought a new stake in Madrigal Pharmaceuticals during the 4th quarter valued at $5,206,000. Charles Schwab Investment Management Inc. raised its holdings in 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 buying an additional 11,083 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Madrigal Pharmaceuticals by 7.4% in the third quarter. Vanguard Group Inc. now owns 1,573,338 shares of the biopharmaceutical company’s stock valued at $229,770,000 after buying an additional 107,816 shares in the last quarter. 98.50% of the stock is owned by institutional investors.

Insider Transactions at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, Director James M. Daly sold 32,489 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $102.77, for a total transaction of $3,338,894.53. Following the sale, the director now owns 1,198 shares in the company, valued at approximately $123,118.46. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director James M. Daly sold 32,489 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $102.77, for a total value of $3,338,894.53. Following the transaction, the director now owns 1,198 shares of the company’s stock, valued at $123,118.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard S. Levy sold 11,000 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $257.48, for a total value of $2,832,280.00. Following the completion of the sale, the director now owns 10,298 shares in the company, valued at $2,651,529.04. The disclosure for this sale can be found here. Insiders sold 173,921 shares of company stock worth $37,491,547 in the last three months. Corporate insiders own 23.92% of the company’s stock.

Madrigal Pharmaceuticals Stock Up 4.0 %

MDGL stock traded up $10.63 on Friday, reaching $278.42. 586,651 shares of the company traded hands, compared to its average volume of 558,754. The firm has a fifty day simple moving average of $232.85 and a 200-day simple moving average of $234.68. The company has a market cap of $5.93 billion, a P/E ratio of -12.06 and a beta of -0.41. Madrigal Pharmaceuticals, Inc. has a one year low of $119.76 and a one year high of $299.98. The company has a debt-to-equity ratio of 0.14, a current ratio of 9.39 and a quick ratio of 9.39.

Madrigal Pharmaceuticals (NASDAQ:MDGLGet Free Report) last released its quarterly earnings data on Tuesday, May 7th. The biopharmaceutical company reported ($7.38) EPS for the quarter, missing the consensus estimate of ($6.06) by ($1.32). During the same quarter in the prior year, the firm earned ($4.23) earnings per share. Research analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -27.62 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on MDGL. JMP Securities decreased their price objective on Madrigal Pharmaceuticals from $397.00 to $381.00 and set a “market outperform” rating for the company in a report on Wednesday, May 8th. HC Wainwright decreased their price target on Madrigal Pharmaceuticals from $425.00 to $390.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. TD Cowen raised their price objective on Madrigal Pharmaceuticals from $349.00 to $390.00 and gave the company an “outperform” rating in a research note on Friday, March 15th. Wolfe Research started coverage on shares of Madrigal Pharmaceuticals in a research note on Tuesday, June 11th. They issued an “outperform” rating and a $382.00 target price for the company. Finally, Piper Sandler reissued an “overweight” rating and set a $336.00 price target on shares of Madrigal Pharmaceuticals in a research report on Thursday, March 14th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $348.17.

Get Our Latest Report on Madrigal Pharmaceuticals

Madrigal Pharmaceuticals Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding MDGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGLFree Report).

Institutional Ownership by Quarter for Madrigal Pharmaceuticals (NASDAQ:MDGL)

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