Teacher Retirement System of Texas Acquires 652 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Teacher Retirement System of Texas increased its holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 20.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 3,859 shares of the biopharmaceutical company’s stock after purchasing an additional 652 shares during the period. Teacher Retirement System of Texas’ holdings in Madrigal Pharmaceuticals were worth $1,191,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Victory Capital Management Inc. boosted its holdings in shares of Madrigal Pharmaceuticals by 1.8% in the third quarter. Victory Capital Management Inc. now owns 2,292 shares of the biopharmaceutical company’s stock worth $486,000 after acquiring an additional 40 shares during the period. Sanctuary Advisors LLC lifted its holdings in Madrigal Pharmaceuticals by 5.2% during the 4th quarter. Sanctuary Advisors LLC now owns 1,247 shares of the biopharmaceutical company’s stock worth $422,000 after purchasing an additional 62 shares in the last quarter. Arizona State Retirement System boosted its stake in Madrigal Pharmaceuticals by 2.5% in the 4th quarter. Arizona State Retirement System now owns 3,774 shares of the biopharmaceutical company’s stock worth $1,165,000 after purchasing an additional 91 shares during the period. Franklin Resources Inc. grew its holdings in Madrigal Pharmaceuticals by 8.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,383 shares of the biopharmaceutical company’s stock valued at $298,000 after buying an additional 103 shares in the last quarter. Finally, Xponance Inc. increased its position in shares of Madrigal Pharmaceuticals by 9.8% during the fourth quarter. Xponance Inc. now owns 1,268 shares of the biopharmaceutical company’s stock valued at $391,000 after buying an additional 113 shares during the period. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Madrigal Pharmaceuticals Stock Performance

Shares of NASDAQ MDGL opened at $327.87 on Friday. The stock’s 50-day moving average is $332.93 and its 200 day moving average is $297.12. The stock has a market cap of $7.24 billion, a price-to-earnings ratio of -13.07 and a beta of -0.41. Madrigal Pharmaceuticals, Inc. has a 1-year low of $189.00 and a 1-year high of $377.46. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings results on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) EPS for the quarter, topping the consensus estimate of ($4.32) by $1.61. The business had revenue of $103.32 million for 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.

Insiders Place Their Bets

In related news, CMO Rebecca Taub sold 1,689 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $273.41, for a total transaction of $461,789.49. Following the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William John Sibold sold 1,584 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $335.24, for a total value of $531,020.16. Following the completion of the sale, the chief executive officer now owns 54,303 shares of the company’s stock, valued at $18,204,537.72. The trade was a 2.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,900 shares of company stock valued at $12,168,079 over the last three months. Insiders own 22.80% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on MDGL shares. JMP Securities restated a “market outperform” rating and issued a $427.00 price objective on shares of Madrigal Pharmaceuticals in a research report on Friday, January 10th. B. Riley raised shares of Madrigal Pharmaceuticals from a “hold” rating to a “strong-buy” rating and upped their price target for the stock from $236.00 to $422.00 in a report on Thursday, February 27th. Citigroup lifted their price objective on 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 upped their target price on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $378.44.

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.