Madrigal Pharmaceuticals, Inc. $MDGL Shares Purchased by California State Teachers Retirement System

California State Teachers Retirement System grew its position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 0.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,197 shares of the biopharmaceutical company's stock after buying an additional 150 shares during the period. California State Teachers Retirement System owned about 0.07% of Madrigal Pharmaceuticals worth $9,233,929 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Seven Fleet Capital Management LP lifted its stake in shares of Madrigal Pharmaceuticals by 46.6% during the second quarter. Seven Fleet Capital Management LP now owns 4,973 shares of the biopharmaceutical company's stock valued at $2,670,000 after acquiring an additional 1,580 shares during the period. Concurrent Investment Advisors LLC raised its holdings in Madrigal Pharmaceuticals by 2.0% during the second quarter. Concurrent Investment Advisors LLC now owns 1,034 shares of the biopharmaceutical company's stock worth $555,000 after buying an additional 20 shares during the last quarter. AXQ Capital LP purchased a new position in Madrigal Pharmaceuticals in the second quarter valued at approximately $499,000. Nykredit A S purchased a new stake in Madrigal Pharmaceuticals in the second quarter valued at approximately $356,000. Finally, Two Sigma Securities LLC bought a new position in shares of Madrigal Pharmaceuticals during the second quarter valued at about $1,191,000. Institutional investors own 98.50% of the company's stock.

Insider Buying and Selling

In related news, CEO William Sibold sold 5,221 shares of the business's stock in a transaction on Friday, September 11th. The stock was sold at an average price of $542.39, for a total transaction of $2,831,818.19. Following the sale, the chief executive officer owned 197,746 shares in the company, valued at $107,255,452.94. The trade was a 2.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Shannon T. Kelley sold 664 shares of the business's stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $514.97, for a total transaction of $341,940.08. Following the transaction, the general counsel owned 11,474 shares in the company, valued at approximately $5,908,765.78. This trade represents a 5.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 12,247 shares of company stock valued at $6,581,182 in the last quarter. Corporate insiders own 17.60% of the company's stock.

Analyst Upgrades and Downgrades

MDGL has been the topic of a number of research reports. Canaccord Genuity Group boosted their price target on shares of Madrigal Pharmaceuticals from $578.00 to $587.00 and gave the stock a "buy" rating in a research note on Wednesday, July 29th. Wolfe Research raised shares of Madrigal Pharmaceuticals from a "peer perform" rating to an "outperform" rating and set a $605.00 target price on the stock in a report on Tuesday, August 4th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Madrigal Pharmaceuticals in a research report on Friday, July 17th. Citigroup restated an "outperform" rating on shares of Madrigal Pharmaceuticals in a report on Friday, July 17th. Finally, Wells Fargo & Company assumed coverage on Madrigal Pharmaceuticals in a report on Monday, July 27th. They set an "overweight" rating and a $685.00 target price for the company. Fifteen investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $699.64.

Madrigal Pharmaceuticals Price Performance

MDGL traded down $20.36 on Tuesday, hitting $519.70. 136,286 shares of the company's stock were exchanged, compared to its average volume of 337,481. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $393.61 and a fifty-two week high of $615.00. The firm has a 50-day moving average price of $531.21 and a 200-day moving average price of $508.83. The stock has a market cap of $12.00 billion, a price-to-earnings ratio of -40.29 and a beta of -0.98. The company has a current ratio of 3.20, a quick ratio of 2.94 and a debt-to-equity ratio of 0.65.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last issued its earnings results on Thursday, July 30th. The biopharmaceutical company reported ($1.99) earnings per share for the quarter, beating the consensus estimate of ($2.68) by $0.69. The business had revenue of $364.25 million for the quarter, compared to the consensus estimate of $352.13 million. Madrigal Pharmaceuticals had a negative net margin of 25.32% and a negative return on equity of 56.65%. The business's quarterly revenue was up 71.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.90) earnings per share. As a group, equities analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -7.03 earnings per share for the current year.

About Madrigal Pharmaceuticals

Madrigal Pharmaceuticals, Inc NASDAQ: MDGL is a biopharmaceutical company focused on developing and commercializing therapies for cardiometabolic diseases, particularly nonalcoholic steatohepatitis, now commonly referred to as metabolic dysfunction-associated steatohepatitis (MASH).

The company's lead product is Rezdiffra (resmetirom), an oral, thyroid hormone receptor beta agonist designed to target underlying liver disease. In 2024, the U.S. Food and Drug Administration approved Rezdiffra for use with diet and exercise to treat adults with noncirrhotic MASH and moderate to advanced liver fibrosis.

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