California Public Employees Retirement System Has $4.67 Million Stock Holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

California Public Employees Retirement System decreased its position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 18.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,190 shares of the biopharmaceutical company's stock after selling 4,668 shares during the period. California Public Employees Retirement System owned about 0.10% of Madrigal Pharmaceuticals worth $4,672,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in MDGL. RA Capital Management L.P. purchased a new stake in Madrigal Pharmaceuticals during the third quarter worth about $29,865,000. Vanguard Group Inc. boosted its stake in shares of Madrigal Pharmaceuticals by 7.4% during the 3rd quarter. Vanguard Group Inc. now owns 1,573,338 shares of the biopharmaceutical company's stock worth $229,770,000 after acquiring an additional 107,816 shares in the last quarter. FMR LLC boosted its stake in shares of Madrigal Pharmaceuticals by 26.2% during the 3rd quarter. FMR LLC now owns 440,380 shares of the biopharmaceutical company's stock worth $64,313,000 after acquiring an additional 91,337 shares in the last quarter. RTW Investments LP grew its holdings in shares of Madrigal Pharmaceuticals by 39.7% in the 3rd quarter. RTW Investments LP now owns 309,485 shares of the biopharmaceutical company's stock worth $45,197,000 after acquiring an additional 87,923 shares during the period. Finally, Schonfeld Strategic Advisors LLC increased its stake in Madrigal Pharmaceuticals by 260.1% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 71,535 shares of the biopharmaceutical company's stock valued at $10,447,000 after purchasing an additional 51,670 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. HC Wainwright lifted their price objective on Madrigal Pharmaceuticals from $405.00 to $425.00 and gave the stock a "buy" rating in a research report on Friday, March 15th. StockNews.com raised shares of Madrigal Pharmaceuticals to a "sell" rating in a research note on Friday, April 12th. Piper Sandler reissued an "overweight" rating and set a $336.00 price objective on shares of Madrigal Pharmaceuticals in a research note on Thursday, March 14th. Evercore ISI raised their target price on shares of Madrigal Pharmaceuticals from $325.00 to $405.00 and gave the stock an "outperform" rating in a research report on Wednesday, March 20th. Finally, UBS Group increased their price target on Madrigal Pharmaceuticals from $337.00 to $410.00 and gave the stock a "buy" rating in a research note on Friday, March 15th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, Madrigal Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus target price of $356.73.

Insider Transactions at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, Director Richard S. Levy sold 11,000 shares of the company's stock in a transaction that occurred on 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 transaction, the director now owns 10,298 shares in the company, valued at approximately $2,651,529.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Madrigal Pharmaceuticals news, CMO Rebecca Taub sold 2,676 shares of the company's stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $245.99, for a total value of $658,269.24. Following the transaction, the chief marketing officer now directly owns 458,999 shares of the company's stock, valued at approximately $112,909,164.01. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 transaction of $2,832,280.00. Following the completion of the sale, the director now directly owns 10,298 shares of the company's stock, valued at approximately $2,651,529.04. The disclosure for this sale can be found here. Insiders sold 146,496 shares of company stock valued at $31,362,420 over the last quarter. Company insiders own 23.92% of the company's stock.

Madrigal Pharmaceuticals Trading Up 6.4 %

Shares of NASDAQ:MDGL traded up $13.79 during trading on Friday, reaching $229.84. 441,775 shares of the stock were exchanged, compared to its average volume of 392,792. The firm's 50-day moving average price is $240.99 and its 200 day moving average price is $215.73. The firm has a market cap of $4.89 billion, a price-to-earnings ratio of -11.53 and a beta of -0.33. Madrigal Pharmaceuticals, Inc. has a 12-month low of $119.76 and a 12-month high of $313.11. The company has a debt-to-equity ratio of 0.28, a quick ratio of 5.38 and a current ratio of 5.38.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last released its quarterly earnings data on Wednesday, February 28th. The biopharmaceutical company reported ($5.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($5.26) by ($0.42). During the same period in the prior year, the firm posted ($4.98) EPS. On average, sell-side analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -21.86 earnings per share for the current fiscal year.

Madrigal Pharmaceuticals 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.