Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC cut its holdings in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 12.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 77,869 shares of the biopharmaceutical company's stock after selling 11,125 shares during the period. Nuveen Asset Management LLC owned approximately 0.36% of Madrigal Pharmaceuticals worth $24,028,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of MDGL. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Madrigal Pharmaceuticals during the 4th quarter worth about $70,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Madrigal Pharmaceuticals in the 4th quarter valued at $164,000. KBC Group NV lifted its holdings in Madrigal Pharmaceuticals by 73.5% in the 4th quarter. KBC Group NV now owns 609 shares of the biopharmaceutical company's stock valued at $188,000 after purchasing an additional 258 shares in the last quarter. Graham Capital Management L.P. acquired a new stake in Madrigal Pharmaceuticals during the 4th quarter worth $203,000. Finally, Jump Financial LLC purchased a new stake in shares of Madrigal Pharmaceuticals during the fourth quarter worth $210,000. Hedge funds and other institutional investors own 98.50% of the company's stock.

Insider Activity

In other Madrigal Pharmaceuticals news, Director James M. Daly sold 15,470 shares of the business's stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $347.45, for a total value of $5,375,051.50. Following the transaction, the director now directly owns 1,912 shares of the company's stock, valued at approximately $664,324.40. The trade was a 89.00% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Robert E. Waltermire sold 14,113 shares of the company's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $341.32, for a total transaction of $4,817,049.16. Following the transaction, the vice president now owns 3,728 shares of the company's stock, valued at approximately $1,272,440.96. The trade was a 79.10% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,810 shares of company stock valued at $10,610,594. Company insiders own 21.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. HC Wainwright raised their target price on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. B. Riley reissued a "buy" rating and set a $460.00 price objective (up previously from $422.00) on shares of Madrigal Pharmaceuticals in a research note on Friday, May 2nd. Wall Street Zen raised Madrigal Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Monday, May 5th. UBS Group lifted their price target on Madrigal Pharmaceuticals from $441.00 to $458.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Finally, Canaccord Genuity Group boosted their price target on shares of Madrigal Pharmaceuticals from $394.00 to $420.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $416.33.

Madrigal Pharmaceuticals Stock Performance

NASDAQ:MDGL traded up $0.35 during mid-day trading on Wednesday, reaching $271.92. 42,177 shares of the stock were exchanged, compared to its average volume of 382,267. 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 1 year low of $200.63 and a 1 year high of $377.46. The company has a 50 day simple moving average of $309.68 and a 200-day simple moving average of $318.12. The stock has a market capitalization of $6.04 billion, a P/E ratio of -10.84 and a beta of -0.91.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The biopharmaceutical company reported ($3.32) EPS for the quarter, beating the consensus estimate of ($3.62) by $0.30. The business had revenue of $137.25 million during the quarter, compared to analysts' expectations of $112.79 million. During the same quarter last year, the company earned ($7.38) EPS. Analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

Madrigal Pharmaceuticals Profile

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.