Teacher Retirement System of Texas Has $1.17 Million Stock Holdings in Madrigal Pharmaceuticals, Inc. $MDGL

Teacher Retirement System of Texas increased its holdings in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 9.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,860 shares of the biopharmaceutical company’s stock after buying an additional 338 shares during the period. Teacher Retirement System of Texas’ holdings in Madrigal Pharmaceuticals were worth $1,168,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in MDGL. VSM Wealth Advisory LLC acquired a new stake in Madrigal Pharmaceuticals during the 1st quarter worth approximately $25,000. Accent Capital Management LLC acquired a new position in shares of Madrigal Pharmaceuticals in the 1st quarter worth approximately $25,000. AlphaQuest LLC lifted its position in shares of Madrigal Pharmaceuticals by 412.5% in the 2nd quarter. AlphaQuest LLC now owns 82 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 66 shares during the period. Summit Securities Group LLC acquired a new position in shares of Madrigal Pharmaceuticals in the 1st quarter worth approximately $33,000. Finally, GAMMA Investing LLC lifted its position in shares of Madrigal Pharmaceuticals by 131.4% in the 1st quarter. GAMMA Investing LLC now owns 118 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 67 shares during the period. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Madrigal Pharmaceuticals Stock Performance

Shares of MDGL stock opened at $475.87 on Thursday. The firm has a market capitalization of $10.57 billion, a PE ratio of -37.03 and a beta of -1.02. The firm has a fifty day simple moving average of $435.09 and a two-hundred day simple moving average of $355.41. The company has a current ratio of 5.11, a quick ratio of 4.78 and a debt-to-equity ratio of 0.17. Madrigal Pharmaceuticals, Inc. has a 12 month low of $265.00 and a 12 month high of $496.98.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings data on Tuesday, November 4th. The biopharmaceutical company reported ($5.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.01) by ($3.07). The firm had revenue of $287.27 million for the quarter, compared to analysts’ expectations of $244.33 million. Madrigal Pharmaceuticals had a negative return on equity of 38.38% and a negative net margin of 54.68%. Analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MDGL. Citigroup restated an “outperform” rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday. Cantor Fitzgerald upgraded shares of Madrigal Pharmaceuticals from a “neutral” rating to an “overweight” rating in a research report on Tuesday. Cowen restated a “buy” rating on shares of Madrigal Pharmaceuticals in a research report on Tuesday, August 26th. B. Riley boosted their price target on shares of Madrigal Pharmaceuticals from $460.00 to $560.00 and gave the stock a “buy” rating in a research report on Monday, September 29th. Finally, UBS Group restated a “buy” rating and issued a $523.00 price target (up previously from $458.00) on shares of Madrigal Pharmaceuticals in a research report on Tuesday, August 12th. Thirteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $528.42.

Insider Activity

In other Madrigal Pharmaceuticals news, Director Rebecca Taub sold 43,263 shares of Madrigal Pharmaceuticals stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $355.69, for a total transaction of $15,388,216.47. Following the transaction, the director directly owned 461,044 shares of the company’s stock, valued at $163,988,740.36. The trade was a 8.58% 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, Director Bros. Advisors Lp Baker acquired 68,618 shares of the business’s stock in a transaction on Monday, August 18th. The shares were purchased at an average cost of $364.04 per share, for a total transaction of $24,979,696.72. Following the completion of the acquisition, the director directly owned 1,859,091 shares in the company, valued at approximately $676,783,487.64. The trade was a 3.83% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders bought 165,683 shares of company stock worth $61,921,142 and sold 248,642 shares worth $91,388,103. 21.50% of the stock is owned by insiders.

Madrigal Pharmaceuticals Company 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.