Nuveen Asset Management LLC Has $24.03 Million Position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Nuveen Asset Management LLC lowered its holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 12.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 77,869 shares of the biopharmaceutical company’s stock after selling 11,125 shares during the period. Nuveen Asset Management LLC’s holdings in Madrigal Pharmaceuticals were worth $24,028,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. William Blair Investment Management LLC acquired a new stake in Madrigal Pharmaceuticals during the fourth quarter valued at approximately $114,717,000. Hood River Capital Management LLC acquired a new position in shares of Madrigal Pharmaceuticals in the 4th quarter worth approximately $39,447,000. Renaissance Technologies LLC lifted its position in shares of Madrigal Pharmaceuticals by 261.3% during the 4th quarter. Renaissance Technologies LLC now owns 160,782 shares of the biopharmaceutical company’s stock worth $49,613,000 after buying an additional 116,285 shares during the period. Norges Bank acquired a new stake in Madrigal Pharmaceuticals in the 4th quarter valued at $35,514,000. Finally, FMR LLC boosted its stake in Madrigal Pharmaceuticals by 10.8% in the 4th quarter. FMR LLC now owns 867,850 shares of the biopharmaceutical company’s stock valued at $267,792,000 after buying an additional 84,305 shares in the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on MDGL shares. JMP Securities reiterated a “market outperform” rating and set a $443.00 price objective on shares of Madrigal Pharmaceuticals in a research note on Thursday, April 24th. UBS Group upped their target price on shares of Madrigal Pharmaceuticals from $441.00 to $458.00 and gave the stock a “buy” rating in a report on Friday, May 2nd. Wall Street Zen raised shares of Madrigal Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Monday, May 5th. HC Wainwright boosted their price target on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Finally, Citigroup raised their price objective on shares of Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $416.33.

Madrigal Pharmaceuticals Stock Performance

Madrigal Pharmaceuticals stock opened at $273.35 on Friday. The stock has a 50-day simple moving average of $313.84 and a 200 day simple moving average of $319.89. The stock has a market capitalization of $6.07 billion, a price-to-earnings ratio of -10.90 and a beta of -0.91. The company has a quick ratio of 5.93, a current ratio of 5.98 and a debt-to-equity ratio of 0.15. Madrigal Pharmaceuticals, Inc. has a 12-month low of $200.63 and a 12-month high of $377.46.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings data on Thursday, May 1st. The biopharmaceutical company reported ($3.32) earnings per share for the quarter, beating the consensus estimate of ($3.62) by $0.30. The company had revenue of $137.25 million during the quarter, compared to analyst estimates of $112.79 million. During the same quarter in the previous year, the business posted ($7.38) EPS. On average, research analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

Insider Activity at Madrigal Pharmaceuticals

In related news, VP Robert E. Waltermire sold 14,113 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $341.32, for a total value of $4,817,049.16. Following the transaction, the vice president now owns 3,728 shares in the company, valued at $1,272,440.96. This trade represents a 79.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James M. Daly sold 15,470 shares of the business’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $347.45, for a total value of $5,375,051.50. Following the sale, the director now directly owns 1,912 shares of the company’s stock, valued at $664,324.40. This represents a 89.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,810 shares of company stock valued at $10,610,594 over the last quarter. Corporate insiders own 21.50% of the company’s stock.

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.