BNP Paribas Financial Markets Lowers Stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

BNP Paribas Financial Markets reduced its holdings in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 29.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,921 shares of the biopharmaceutical company's stock after selling 2,846 shares during the period. BNP Paribas Financial Markets' holdings in Madrigal Pharmaceuticals were worth $2,136,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Pitcairn Co. grew its stake in shares of Madrigal Pharmaceuticals by 3.2% in the fourth quarter. Pitcairn Co. now owns 1,060 shares of the biopharmaceutical company's stock worth $327,000 after acquiring an additional 33 shares in the last quarter. Sanctuary Advisors LLC raised its stake in shares of Madrigal Pharmaceuticals by 5.2% in the fourth quarter. Sanctuary Advisors LLC now owns 1,247 shares of the biopharmaceutical company's stock valued at $422,000 after acquiring an additional 62 shares in the last quarter. Arizona State Retirement System boosted its holdings in Madrigal Pharmaceuticals by 2.5% in the fourth quarter. Arizona State Retirement System now owns 3,774 shares of the biopharmaceutical company's stock valued at $1,165,000 after purchasing an additional 91 shares during the period. Summit Investment Advisors Inc. boosted its holdings in Madrigal Pharmaceuticals by 5.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 1,881 shares of the biopharmaceutical company's stock valued at $580,000 after purchasing an additional 104 shares during the period. Finally, Xponance Inc. grew its stake in Madrigal Pharmaceuticals by 9.8% during the 4th quarter. Xponance Inc. now owns 1,268 shares of the biopharmaceutical company's stock worth $391,000 after purchasing an additional 113 shares in the last quarter. 98.50% of the stock is owned by hedge funds and other institutional investors.

Madrigal Pharmaceuticals Stock Down 0.6%

MDGL stock traded down $1.76 during trading on Thursday, hitting $275.48. 26,307 shares of the company's stock were exchanged, compared to its average volume of 385,175. The business has a 50-day moving average price of $315.22 and a two-hundred day moving average price of $320.29. 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 stock has a market capitalization of $6.12 billion, a price-to-earnings ratio of -10.94 and a beta of -0.91. Madrigal Pharmaceuticals, Inc. has a 52-week low of $200.63 and a 52-week high of $377.46.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The biopharmaceutical company reported ($3.32) earnings per share for the quarter, topping analysts' consensus estimates of ($3.62) by $0.30. The company had revenue of $137.25 million for the quarter, compared to analyst estimates of $112.79 million. During the same period in the previous year, the business posted ($7.38) EPS. As a group, equities research analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on MDGL shares. UBS Group increased their price target on Madrigal Pharmaceuticals from $441.00 to $458.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. B. Riley restated a "buy" rating and set a $460.00 target price (up from $422.00) on shares of Madrigal Pharmaceuticals in a research note on Friday, May 2nd. StockNews.com raised shares of Madrigal Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Monday, May 5th. JMP Securities reiterated a "market outperform" rating and issued a $443.00 price target on shares of Madrigal Pharmaceuticals in a research note on Thursday, April 24th. Finally, Citigroup boosted their price target 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 equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Madrigal Pharmaceuticals has a consensus rating of "Moderate Buy" and a consensus price target of $416.33.

Insider Activity at Madrigal Pharmaceuticals

In related news, Director James M. Daly sold 15,470 shares of the company'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 completion of 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Robert E. Waltermire sold 14,113 shares of the firm's stock in a transaction that occurred on 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 represents a 79.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,810 shares of company stock valued at $10,610,594 in the last ninety days. 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.