American Century Companies Inc. Grows Holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

American Century Companies Inc. grew its position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 22.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 136,849 shares of the biopharmaceutical company’s stock after purchasing an additional 25,486 shares during the period. American Century Companies Inc. owned 0.63% of Madrigal Pharmaceuticals worth $42,228,000 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 company. William Blair Investment Management LLC acquired a new stake in Madrigal Pharmaceuticals during the fourth quarter worth approximately $114,717,000. Erste Asset Management GmbH acquired a new stake in shares of Madrigal Pharmaceuticals during the third quarter worth $49,749,000. Paulson & CO. Inc. increased its stake in Madrigal Pharmaceuticals by 10.4% in the third quarter. Paulson & CO. Inc. now owns 2,042,000 shares of the biopharmaceutical company’s stock valued at $433,353,000 after purchasing an additional 192,000 shares during the last quarter. Braidwell LP purchased a new position in Madrigal Pharmaceuticals during the third quarter worth about $39,010,000. Finally, State Street Corp lifted its position in Madrigal Pharmaceuticals by 19.2% during the third quarter. State Street Corp now owns 887,752 shares of the biopharmaceutical company’s stock worth $188,399,000 after buying an additional 143,038 shares during the period. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Madrigal Pharmaceuticals Stock Up 1.0 %

Shares of NASDAQ MDGL opened at $337.27 on Friday. The company has a market cap of $7.45 billion, a P/E ratio of -13.45 and a beta of -0.41. 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 12-month low of $189.00 and a 12-month high of $377.46. The stock has a fifty day moving average price of $332.24 and a 200 day moving average price of $296.08.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on MDGL shares. JMP Securities reaffirmed a “market outperform” rating and set a $427.00 price objective 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 increased their price target for the stock from $236.00 to $422.00 in a research note on Thursday, February 27th. HC Wainwright boosted their price objective on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Finally, Citigroup increased their target price on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $378.44.

Insider Buying and Selling

In other news, VP Robert E. Waltermire sold 14,113 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $341.32, for a total value of $4,817,049.16. Following the transaction, the vice president now directly owns 3,728 shares in the company, valued at approximately $1,272,440.96. This trade represents a 79.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director James M. Daly sold 15,470 shares of Madrigal Pharmaceuticals stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $347.45, for a total transaction of $5,375,051.50. Following the completion of the transaction, the director now directly owns 1,912 shares of the company’s stock, valued at $664,324.40. This trade represents a 89.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 35,900 shares of company stock worth $12,168,079. Corporate insiders own 22.80% of the company’s stock.

Madrigal Pharmaceuticals Company Profile

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.