TD Asset Management Inc Makes New Investment in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

TD Asset Management Inc acquired a new position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGLFree Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 15,540 shares of the biopharmaceutical company’s stock, valued at approximately $3,596,000. TD Asset Management Inc owned approximately 0.08% of Madrigal Pharmaceuticals at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Jump Financial LLC raised its stake in shares of Madrigal Pharmaceuticals by 58.2% in the 3rd quarter. Jump Financial LLC now owns 2,359 shares of the biopharmaceutical company’s stock valued at $345,000 after purchasing an additional 868 shares in the last quarter. New York State Common Retirement Fund raised its stake in shares of Madrigal Pharmaceuticals by 13.7% in the 3rd quarter. New York State Common Retirement Fund now owns 16,594 shares of the biopharmaceutical company’s stock valued at $2,423,000 after purchasing an additional 1,994 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Madrigal Pharmaceuticals in the 3rd quarter valued at about $72,000. J.P. Morgan Private Wealth Advisors LLC acquired a new stake in shares of Madrigal Pharmaceuticals in the 3rd quarter valued at about $314,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Madrigal Pharmaceuticals by 11.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 109,501 shares of the biopharmaceutical company’s stock valued at $15,992,000 after purchasing an additional 11,083 shares in the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Stock Performance

NASDAQ MDGL opened at $241.35 on Friday. 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 company has a 50-day moving average price of $227.15 and a two-hundred day moving average price of $228.95.

Madrigal Pharmaceuticals (NASDAQ:MDGLGet Free Report) last posted its earnings results 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 period in the previous year, the company posted ($4.23) EPS. Sell-side analysts expect that Madrigal Pharmaceuticals, Inc. will post -27.62 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on MDGL shares. B. Riley cut their target price on shares of Madrigal Pharmaceuticals from $270.00 to $200.00 and set a “neutral” rating on the stock in a research note on Friday, May 10th. Bank of America assumed coverage on shares of Madrigal Pharmaceuticals in a research note on Monday, April 22nd. They set an “underperform” rating and a $150.00 price objective on the stock. Canaccord Genuity Group increased their price objective on shares of Madrigal Pharmaceuticals from $338.00 to $377.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. StockNews.com upgraded shares of Madrigal Pharmaceuticals to a “sell” rating in a research note on Wednesday. Finally, HC Wainwright dropped their price objective on shares of Madrigal Pharmaceuticals from $425.00 to $390.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Two equities research 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’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $345.09.

Get Our Latest Report on Madrigal Pharmaceuticals

Insider Activity

In other news, VP Robert E. Waltermire sold 1,036 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $231.34, for a total value of $239,668.24. Following the completion of the transaction, the vice president now directly owns 5,500 shares in the company, valued at $1,272,370. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Fred B. Craves sold 22,489 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $212.88, for a total value of $4,787,458.32. Following the completion of the transaction, the director now directly owns 413,362 shares in the company, valued at $87,996,502.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Robert E. Waltermire sold 1,036 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $231.34, for a total transaction of $239,668.24. Following the completion of the transaction, the vice president now owns 5,500 shares of the company’s stock, valued at $1,272,370. The disclosure for this sale can be found here. Insiders sold 170,021 shares of company stock worth $36,389,547 over the last three months. Corporate insiders own 23.92% of the company’s stock.

Madrigal Pharmaceuticals Company 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

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

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