UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Increases Stock Holdings in Madrigal Pharmaceuticals, Inc. $MDGL

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 36.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 32,403 shares of the biopharmaceutical company’s stock after purchasing an additional 8,607 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.14% of Madrigal Pharmaceuticals worth $17,399,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Persistent Asset Partners Ltd acquired a new position in Madrigal Pharmaceuticals during the 2nd quarter worth approximately $29,000. Global Retirement Partners LLC purchased a new position in shares of Madrigal Pharmaceuticals during the second quarter worth about $34,000. Quarry LP purchased a new position in Madrigal Pharmaceuticals during the 3rd quarter worth approximately $39,000. Kemnay Advisory Services Inc. purchased a new position in shares of Madrigal Pharmaceuticals during the fourth quarter worth approximately $39,000. Finally, Johnson Financial Group Inc. acquired a new position in Madrigal Pharmaceuticals in the third quarter valued at $50,000. 98.50% of the stock is owned by institutional investors and hedge funds.

Madrigal Pharmaceuticals Price Performance

MDGL opened at $541.08 on Friday. Madrigal Pharmaceuticals, Inc. has a 1 year low of $393.61 and a 1 year high of $615.00. The company’s 50 day simple moving average is $529.90 and its 200 day simple moving average is $505.01. The stock has a market capitalization of $12.50 billion, a PE ratio of -41.98 and a beta of -0.98. The company has a debt-to-equity ratio of 0.65, a quick ratio of 2.94 and a current ratio of 3.20.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported ($1.99) EPS for the quarter, topping analysts’ consensus estimates of ($2.68) by $0.69. Madrigal Pharmaceuticals had a negative return on equity of 56.65% and a negative net margin of 25.32%.The business had revenue of $364.25 million during the quarter, compared to the consensus estimate of $352.13 million. During the same period in the prior year, the firm posted ($1.90) EPS. The business’s revenue for the quarter was up 71.2% on a year-over-year basis. As a group, sell-side analysts expect that Madrigal Pharmaceuticals, Inc. will post -7.03 EPS for the current year.

Insider Transactions at Madrigal Pharmaceuticals

In other news, General Counsel Shannon Kelley sold 664 shares of the stock in a transaction on Monday, August 17th. The shares were sold at an average price of $514.97, for a total value of $341,940.08. Following the completion of the sale, the general counsel owned 11,474 shares of the company’s stock, valued at $5,908,765.78. This represents a 5.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 17.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MDGL. HC Wainwright reissued a “buy” rating on shares of Madrigal Pharmaceuticals in a report on Friday, July 31st. Piper Sandler restated an “overweight” rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, June 24th. UBS Group reaffirmed a “buy” rating on shares of Madrigal Pharmaceuticals in a report on Friday, July 31st. Wolfe Research upgraded shares of Madrigal Pharmaceuticals from a “peer perform” rating to an “outperform” rating and set a $605.00 price target on the stock in a research report on Tuesday, August 4th. Finally, Bank of America cut their price objective on Madrigal Pharmaceuticals from $550.00 to $542.00 and set a “neutral” rating for the company in a research report on Thursday, June 11th. Fifteen research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Madrigal Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $699.64.

About Madrigal Pharmaceuticals

Madrigal Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the development of innovative therapies for cardiovascular, metabolic and liver diseases. The company’s pipeline centers on novel, liver-directed agents designed to address significant unmet medical needs, with an emphasis on nonalcoholic steatohepatitis (NASH) and related metabolic disorders.

The lead product candidate, resmetirom (MGL-3196), is an orally administered, selective thyroid hormone receptor-β agonist in Phase 3 development for the treatment of NASH.