Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Holdings Lifted by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 1.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 43,762 shares of the biopharmaceutical company’s stock after purchasing an additional 791 shares during the period. Bank of New York Mellon Corp owned approximately 0.24% of Madrigal Pharmaceuticals worth $10,602,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of MDGL. Bradley & Co. Private Wealth Management LLC boosted its holdings in shares of Madrigal Pharmaceuticals by 307.4% in the first quarter. Bradley & Co. Private Wealth Management LLC now owns 110 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 83 shares in the last quarter. Russell Investments Group Ltd. bought a new position in shares of Madrigal Pharmaceuticals in the first quarter valued at approximately $55,000. Nisa Investment Advisors LLC boosted its holdings in shares of Madrigal Pharmaceuticals by 145.8% in the first quarter. Nisa Investment Advisors LLC now owns 236 shares of the biopharmaceutical company’s stock valued at $57,000 after acquiring an additional 140 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Madrigal Pharmaceuticals by 41.4% in the first quarter. China Universal Asset Management Co. Ltd. now owns 246 shares of the biopharmaceutical company’s stock valued at $60,000 after acquiring an additional 72 shares in the last quarter. Finally, FNY Investment Advisers LLC bought a new position in shares of Madrigal Pharmaceuticals in the first quarter valued at approximately $121,000. Institutional investors own 79.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on MDGL. Canaccord Genuity Group reissued a “buy” rating and set a $336.00 target price on shares of Madrigal Pharmaceuticals in a research note on Tuesday, July 18th. StockNews.com began coverage on shares of Madrigal Pharmaceuticals in a research note on Thursday, August 17th. They set a “sell” rating for the company. Finally, Oppenheimer cut their target price on shares of Madrigal Pharmaceuticals from $350.00 to $285.00 and set an “outperform” rating for the company in a research note on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $306.45.

Madrigal Pharmaceuticals Stock Up 2.9 %

Shares of NASDAQ:MDGL opened at $185.14 on Friday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 3.02 and a current ratio of 3.02. The company has a market cap of $3.42 billion, a PE ratio of -9.93 and a beta of -0.76. Madrigal Pharmaceuticals, Inc. has a 52 week low of $57.21 and a 52 week high of $322.67. The firm has a 50 day simple moving average of $199.57 and a 200 day simple moving average of $245.33.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($4.69) EPS for the quarter, missing the consensus estimate of ($4.59) by ($0.10). As a group, research analysts expect that Madrigal Pharmaceuticals, Inc. will post -18.66 earnings per share for the current 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 selective thyroid hormone receptor beta agonist, which is in Phase III clinical trials for treating NASH.