Zurcher Kantonalbank Zurich Cantonalbank Has $708,000 Holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Zurcher Kantonalbank Zurich Cantonalbank lessened its position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 12.0% in the first quarter, according to its most recent filing with the SEC. The firm owned 2,138 shares of the biopharmaceutical company’s stock after selling 291 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Madrigal Pharmaceuticals were worth $708,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MDGL. VSM Wealth Advisory LLC acquired a new stake in shares of Madrigal Pharmaceuticals during the 1st quarter worth approximately $25,000. Farther Finance Advisors LLC grew its position in shares of Madrigal Pharmaceuticals by 825.0% during the 1st quarter. Farther Finance Advisors LLC now owns 111 shares of the biopharmaceutical company’s stock worth $36,000 after buying an additional 99 shares during the period. GAMMA Investing LLC grew its position in shares of Madrigal Pharmaceuticals by 131.4% during the 1st quarter. GAMMA Investing LLC now owns 118 shares of the biopharmaceutical company’s stock worth $39,000 after buying an additional 67 shares during the period. First Horizon Advisors Inc. grew its position in shares of Madrigal Pharmaceuticals by 38.9% during the 1st quarter. First Horizon Advisors Inc. now owns 157 shares of the biopharmaceutical company’s stock worth $52,000 after buying an additional 44 shares during the period. Finally, Parallel Advisors LLC grew its position in shares of Madrigal Pharmaceuticals by 42.7% during the 1st quarter. Parallel Advisors LLC now owns 284 shares of the biopharmaceutical company’s stock worth $94,000 after buying an additional 85 shares during the period. Institutional investors and hedge funds own 98.50% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on MDGL shares. JMP Securities reaffirmed a “market outperform” rating and set a $443.00 price objective on shares of Madrigal Pharmaceuticals in a research report on Thursday, April 24th. UBS Group raised their price objective on shares of Madrigal Pharmaceuticals from $441.00 to $458.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. Wall Street Zen raised shares of Madrigal Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, May 5th. B. Riley reaffirmed a “buy” rating and set a $460.00 price objective (up previously from $422.00) on shares of Madrigal Pharmaceuticals in a research report on Friday, May 2nd. Finally, Canaccord Genuity Group lifted their price target on shares of Madrigal Pharmaceuticals from $420.00 to $428.00 and gave the company a “buy” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Madrigal Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $421.63.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, Director Paul A. Friedman sold 26,176 shares of the firm’s stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $353.47, for a total transaction of $9,252,430.72. Following the transaction, the director directly owned 187,164 shares in the company, valued at approximately $66,156,859.08. This trade represents a 12.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Rebecca Taub sold 26,444 shares of the firm’s stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $353.47, for a total value of $9,347,160.68. Following the transaction, the director owned 461,044 shares in the company, valued at approximately $162,965,222.68. This trade represents a 5.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 60,377 shares of company stock worth $21,316,969. Company insiders own 21.50% of the company’s stock.

Madrigal Pharmaceuticals Stock Performance

NASDAQ MDGL opened at $338.11 on Thursday. The company has a fifty day simple moving average of $298.84 and a 200 day simple moving average of $312.50. Madrigal Pharmaceuticals, Inc. has a 12-month low of $200.63 and a 12-month high of $377.46. The company has a current ratio of 5.91, a quick ratio of 5.58 and a debt-to-equity ratio of 0.17. The company has a market cap of $7.51 billion, a P/E ratio of -26.31 and a beta of -1.02.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported ($1.90) earnings per share for the quarter, beating the consensus estimate of ($3.48) by $1.58. Madrigal Pharmaceuticals had a negative return on equity of 37.72% and a negative net margin of 54.68%. The business had revenue of $212.80 million for the quarter, compared to analysts’ expectations of $158.94 million. During the same period last year, the business earned ($7.10) EPS. The business’s revenue was up 1357.5% on a year-over-year basis. Sell-side analysts predict that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal 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 thyroid hormone receptor beta agonist, which is in Phase 3 clinical trials for treating NASH.