UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $4.74 Million Holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 9.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,356 shares of the biopharmaceutical company's stock after selling 2,253 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.10% of Madrigal Pharmaceuticals worth $4,744,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in MDGL. Blueshift Asset Management LLC acquired a new position in shares of Madrigal Pharmaceuticals in the 3rd quarter worth approximately $393,000. BNP Paribas Financial Markets boosted its holdings in shares of Madrigal Pharmaceuticals by 97.1% during the third quarter. BNP Paribas Financial Markets now owns 9,767 shares of the biopharmaceutical company's stock worth $2,073,000 after purchasing an additional 4,811 shares during the period. Advantage Alpha Capital Partners LP acquired a new position in Madrigal Pharmaceuticals in the 3rd quarter valued at approximately $349,000. Eagle Asset Management Inc. purchased a new stake in Madrigal Pharmaceuticals in the 3rd quarter worth approximately $6,875,000. Finally, Charles Schwab Investment Management Inc. boosted its position in Madrigal Pharmaceuticals by 7.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 147,970 shares of the biopharmaceutical company's stock valued at $31,402,000 after purchasing an additional 9,656 shares during the last quarter. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Madrigal Pharmaceuticals

In related news, Director Richard S. Levy sold 5,000 shares of the company's stock in a transaction on Friday, November 1st. The stock was sold at an average price of $300.94, for a total transaction of $1,504,700.00. Following the completion of the sale, the director now directly owns 11,012 shares in the company, valued at $3,313,951.28. This represents a 31.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Fred B. Craves sold 3,400 shares of the business's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $350.30, for a total value of $1,191,020.00. Following the sale, the director now owns 14,600 shares in the company, valued at $5,114,380. This represents a 18.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,000 shares of company stock worth $3,830,836 over the last ninety days. Insiders own 22.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Cantor Fitzgerald restated a "neutral" rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, November 20th. HC Wainwright reissued a "buy" rating and issued a $390.00 target price on shares of Madrigal Pharmaceuticals in a report on Tuesday, October 22nd. B. Riley upped their price target on shares of Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 5th. StockNews.com raised shares of Madrigal Pharmaceuticals to a "sell" rating in a report on Saturday, October 12th. Finally, UBS Group increased their target price on Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a "buy" rating in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Madrigal Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average price target of $347.33.

Madrigal Pharmaceuticals Stock Down 1.3 %

Shares of NASDAQ:MDGL traded down $4.08 during trading on Thursday, hitting $302.47. 321,195 shares of the company were exchanged, compared to its average volume of 436,559. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $168.25 and a fifty-two week high of $368.29. The stock has a market cap of $6.60 billion, a price-to-earnings ratio of -12.06 and a beta of -0.42. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15. The firm has a fifty day moving average price of $280.39 and a two-hundred day moving average price of $264.25.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($6.94) by $2.02. The business had revenue of $62.18 million during the quarter, compared to analyst estimates of $34.60 million. During the same period in the previous year, the business earned ($5.34) earnings per share. As a group, research analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -24.08 earnings per share for the current fiscal year.

About Madrigal Pharmaceuticals

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.