UBS Group AG Purchases 71,227 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Posted by Defense World Staff on May 17th, 2023

UBS Group AG grew its position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL – Get Rating) by 279.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 96,690 shares of the biopharmaceutical company’s stock after purchasing an additional 71,227 shares during the period. UBS Group AG owned approximately 0.57% of Madrigal Pharmaceuticals worth $28,064,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC increased its position in Madrigal Pharmaceuticals by 42.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,190 shares of the biopharmaceutical company’s stock worth $77,000 after buying an additional 352 shares during the last quarter. Liberty One Investment Management LLC increased its position in Madrigal Pharmaceuticals by 10.5% during the third quarter. Liberty One Investment Management LLC now owns 1,929 shares of the biopharmaceutical company’s stock worth $125,000 after buying an additional 183 shares during the last quarter. EWG Elevate Inc. acquired a new position in Madrigal Pharmaceuticals during the fourth quarter worth approximately $145,000. BNP Paribas Arbitrage SA grew its holdings in Madrigal Pharmaceuticals by 177.8% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,756 shares of the biopharmaceutical company’s stock valued at $197,000 after buying an additional 1,764 shares in the last quarter. Finally, Miracle Mile Advisors LLC bought a new position in Madrigal Pharmaceuticals during the 4th quarter worth $203,000. 67.98% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on MDGL. StockNews.com raised Madrigal Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, May 12th. Canaccord Genuity Group raised their price objective on Madrigal Pharmaceuticals from $296.00 to $336.00 and gave the company a “buy” rating in a research note on Tuesday, February 28th. Finally, Oppenheimer raised their price objective on Madrigal Pharmaceuticals from $300.00 to $350.00 in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $312.36.

Madrigal Pharmaceuticals Trading Up 0.7 %

Shares of MDGL stock opened at $292.21 on Wednesday. The company has a market cap of $5.34 billion, a P/E ratio of -16.14 and a beta of -0.61. The stock has a 50 day simple moving average of $266.92 and a two-hundred day simple moving average of $224.41. The company has a debt-to-equity ratio of 0.56, a quick ratio of 3.37 and a current ratio of 3.37. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $57.21 and a fifty-two week high of $322.67.

Madrigal Pharmaceuticals (NASDAQ:MDGL – Get Rating) last announced its earnings results on Tuesday, May 9th. The biopharmaceutical company reported ($4.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($4.78) by $0.55. Research analysts forecast that Madrigal Pharmaceuticals, Inc. will post -19.51 earnings per share for the current year.

Madrigal Pharmaceuticals Company Profile

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Madrigal Pharmaceuticals, Inc engages on the development and commercialization of innovative therapeutic candidates for the treatment of cardiovascular, metabolic, and liver diseases. Its lead product, MGL-3196, is used for the treatment of non-alcoholic steatohepatitis and familial hypercholesterolemia.