Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Holdings Cut by BNP Paribas Arbitrage SA

BNP Paribas Arbitrage SA lowered its holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 59.8% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 427 shares of the biopharmaceutical company’s stock after selling 635 shares during the period. BNP Paribas Arbitrage SA’s holdings in Madrigal Pharmaceuticals were worth $42,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Renaissance Technologies LLC raised its holdings in Madrigal Pharmaceuticals by 0.7% during the first quarter. Renaissance Technologies LLC now owns 34,282 shares of the biopharmaceutical company’s stock worth $4,010,000 after purchasing an additional 249 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in Madrigal Pharmaceuticals by 12.5% during the second quarter. Handelsbanken Fonder AB now owns 2,700 shares of the biopharmaceutical company’s stock worth $263,000 after purchasing an additional 300 shares in the last quarter. Aviva PLC raised its holdings in Madrigal Pharmaceuticals by 3.5% during the first quarter. Aviva PLC now owns 10,495 shares of the biopharmaceutical company’s stock worth $1,228,000 after purchasing an additional 355 shares in the last quarter. E Fund Management Co. Ltd. bought a new stake in Madrigal Pharmaceuticals during the first quarter worth approximately $138,000. Finally, Rhumbline Advisers raised its holdings in Madrigal Pharmaceuticals by 13.9% during the second quarter. Rhumbline Advisers now owns 11,879 shares of the biopharmaceutical company’s stock worth $1,157,000 after purchasing an additional 1,454 shares in the last quarter. 69.32% of the stock is currently owned by hedge funds and other institutional investors.

MDGL has been the topic of several recent research reports. Zacks Investment Research upgraded shares of Madrigal Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday. BMO Capital Markets decreased their price target on shares of Madrigal Pharmaceuticals from $134.00 to $111.00 and set a “market perform” rating on the stock in a research report on Friday, August 6th. HC Wainwright decreased their price target on shares of Madrigal Pharmaceuticals from $184.00 to $170.00 and set a “buy” rating on the stock in a research report on Wednesday, August 11th. B. Riley restated a “buy” rating on shares of Madrigal Pharmaceuticals in a research report on Monday, June 28th. Finally, Jefferies Financial Group initiated coverage on shares of Madrigal Pharmaceuticals in a research report on Wednesday, October 6th. They issued a “buy” rating and a $151.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $162.60.

NASDAQ MDGL opened at $81.25 on Thursday. Madrigal Pharmaceuticals, Inc. has a twelve month low of $76.03 and a twelve month high of $142.62. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of -5.56 and a beta of 1.11. The firm’s 50 day moving average price is $81.87 and its two-hundred day moving average price is $101.22.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings data on Thursday, August 5th. The biopharmaceutical company reported ($3.72) earnings per share for the quarter, missing the consensus estimate of ($3.58) by ($0.14). On average, equities research analysts expect that Madrigal Pharmaceuticals, Inc. will post -15.05 earnings per share for the current fiscal year.

Madrigal Pharmaceuticals Company Profile

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.

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Institutional Ownership by Quarter for Madrigal Pharmaceuticals (NASDAQ:MDGL)

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