Madrigal Pharmaceuticals, Inc. $MDGL Shares Bought by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 36.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor 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’s holdings in Madrigal Pharmaceuticals were worth $17,399,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of MDGL. Janus Henderson Group PLC raised its stake in Madrigal Pharmaceuticals by 27.4% during the first quarter. Janus Henderson Group PLC now owns 2,018,647 shares of the biopharmaceutical company’s stock valued at $1,051,727,000 after buying an additional 433,804 shares in the last quarter. Jupiter Topco LLC acquired a new position in shares of Madrigal Pharmaceuticals in the 2nd quarter valued at about $1,039,650,000. Paulson & CO. Inc. bought a new stake in shares of Madrigal Pharmaceuticals during the 2nd quarter valued at about $719,524,000. BlackRock Inc. bought a new position in shares of Madrigal Pharmaceuticals during the second quarter valued at approximately $644,753,000. Finally, Wellington Management Group LLP grew its stake in Madrigal Pharmaceuticals by 18.8% during the 2nd quarter. Wellington Management Group LLP now owns 825,714 shares of the biopharmaceutical company’s stock worth $443,367,000 after buying an additional 130,756 shares during the last quarter. Institutional investors own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Stock Performance

Shares of NASDAQ MDGL opened at $541.08 on Friday. Madrigal Pharmaceuticals, Inc. has a 12 month low of $393.61 and a 12 month high of $615.00. The business’s 50 day moving average is $529.90 and its two-hundred day moving average is $505.01. The company has a market cap of $12.50 billion, a P/E ratio of -41.98 and a beta of -0.98. The company has a quick ratio of 2.94, a current ratio of 3.20 and a debt-to-equity ratio of 0.65.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported ($1.99) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.68) by $0.69. The company had revenue of $364.25 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period last year, the business posted ($1.90) EPS. On average, equities analysts expect that Madrigal Pharmaceuticals, Inc. will post -7.03 EPS for the current year.

Insider Activity at Madrigal Pharmaceuticals

In other news, General Counsel Shannon Kelley sold 664 shares of Madrigal Pharmaceuticals stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $514.97, for a total transaction of $341,940.08. Following the sale, the general counsel directly owned 11,474 shares in the company, valued at approximately $5,908,765.78. The trade was a 5.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 17.60% of the company’s stock.

Analyst Upgrades and Downgrades

MDGL has been the topic of several analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a research note on Friday, July 17th. Wolfe Research raised shares of Madrigal Pharmaceuticals from a “peer perform” rating to an “outperform” rating and set a $605.00 price target for the company in a report on Tuesday, August 4th. Barclays reduced their target price on shares of Madrigal Pharmaceuticals from $964.00 to $962.00 and set an “overweight” rating for the company in a report on Monday, August 3rd. UBS Group reissued a “buy” rating on shares of Madrigal Pharmaceuticals in a research report on Friday, July 31st. Finally, Canaccord Genuity Group lifted their target price on shares of Madrigal Pharmaceuticals from $578.00 to $587.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Fifteen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Madrigal Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus 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.