Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Position Raised by American Century Companies Inc.

American Century Companies Inc. lifted its position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 22.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 136,849 shares of the biopharmaceutical company’s stock after acquiring an additional 25,486 shares during the period. American Century Companies Inc.’s holdings in Madrigal Pharmaceuticals were worth $42,228,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of MDGL. Kohmann Bosshard Financial Services LLC acquired a new position in Madrigal Pharmaceuticals during the 4th quarter valued at about $70,000. Quest Partners LLC boosted its position in shares of Madrigal Pharmaceuticals by 172.8% during the third quarter. Quest Partners LLC now owns 581 shares of the biopharmaceutical company’s stock worth $123,000 after buying an additional 368 shares during the period. KBC Group NV boosted its position in shares of Madrigal Pharmaceuticals by 73.5% during the fourth quarter. KBC Group NV now owns 609 shares of the biopharmaceutical company’s stock worth $188,000 after buying an additional 258 shares during the period. Miracle Mile Advisors LLC bought a new position in Madrigal Pharmaceuticals in the 4th quarter worth approximately $216,000. Finally, D.A. Davidson & CO. acquired a new stake in Madrigal Pharmaceuticals in the 4th quarter valued at approximately $221,000. Institutional investors and hedge funds own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Price Performance

NASDAQ MDGL opened at $337.27 on Friday. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15. Madrigal Pharmaceuticals, Inc. has a 1 year low of $189.00 and a 1 year high of $377.46. The company has a market cap of $7.45 billion, a PE ratio of -13.45 and a beta of -0.41. The stock’s 50-day moving average price is $332.24 and its two-hundred day moving average price is $296.08.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its earnings results on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) earnings per share for the quarter, topping the consensus estimate of ($4.32) by $1.61. The firm had revenue of $103.32 million during the quarter, compared to analysts’ expectations of $97.81 million. On average, analysts predict that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current year.

Insider Buying and Selling at Madrigal Pharmaceuticals

In related news, General Counsel Shannon T. Kelley sold 277 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $273.41, for a total transaction of $75,734.57. Following the completion of the sale, the general counsel now directly owns 7,705 shares in the company, valued at approximately $2,106,624.05. This trade represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Robert E. Waltermire sold 442 shares of the business’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $273.41, for a total transaction of $120,847.22. Following the transaction, the vice president now owns 5,058 shares in the company, valued at approximately $1,382,907.78. This represents a 8.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,900 shares of company stock valued at $12,168,079 in the last three months. 22.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

MDGL has been the subject of several recent analyst reports. JMP Securities reissued a “market outperform” rating and issued a $427.00 price target on shares of Madrigal Pharmaceuticals in a research note on Friday, January 10th. B. Riley raised shares of Madrigal Pharmaceuticals from a “hold” rating to a “strong-buy” rating and raised their target price for the company from $236.00 to $422.00 in a research note on Thursday, February 27th. HC Wainwright boosted their price target on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Finally, Citigroup increased their price objective on shares of Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Madrigal Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $378.44.

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.