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

American Century Companies Inc. boosted its stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 22.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 136,849 shares of the biopharmaceutical company's stock after acquiring an additional 25,486 shares during the quarter. American Century Companies Inc. owned about 0.63% of Madrigal Pharmaceuticals worth $42,228,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of MDGL. Paulson & CO. Inc. increased its position in shares of Madrigal Pharmaceuticals by 10.4% during the third quarter. Paulson & CO. Inc. now owns 2,042,000 shares of the biopharmaceutical company's stock worth $433,353,000 after acquiring an additional 192,000 shares during the last quarter. RTW Investments LP grew its stake in Madrigal Pharmaceuticals by 4.1% during the 3rd quarter. RTW Investments LP now owns 1,993,687 shares of the biopharmaceutical company's stock valued at $423,100,000 after purchasing an additional 77,825 shares in the last quarter. State Street Corp increased its holdings in Madrigal Pharmaceuticals by 19.2% during the 3rd quarter. State Street Corp now owns 887,752 shares of the biopharmaceutical company's stock worth $188,399,000 after purchasing an additional 143,038 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Madrigal Pharmaceuticals by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 405,655 shares of the biopharmaceutical company's stock valued at $86,104,000 after purchasing an additional 5,801 shares in the last quarter. Finally, William Blair Investment Management LLC purchased a new position in shares of Madrigal Pharmaceuticals during the 4th quarter valued at approximately $114,717,000. Institutional investors and hedge funds own 98.50% of the company's stock.

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Analysts Set New Price Targets

A number of brokerages recently issued reports on MDGL. JMP Securities restated a "market outperform" rating and issued a $427.00 price target on shares of Madrigal Pharmaceuticals in a research note on Friday, January 10th. HC Wainwright boosted their target price 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. 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 report on Thursday, February 27th. Finally, Citigroup lifted their price target on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $378.44.

Insider Activity at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, Director James M. Daly sold 15,470 shares of the business's stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $347.45, for a total value of $5,375,051.50. Following the sale, the director now directly owns 1,912 shares in the company, valued at approximately $664,324.40. The trade was a 89.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Robert E. Waltermire sold 103 shares of the firm's stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $335.24, for a total transaction of $34,529.72. Following the transaction, the vice president now owns 4,955 shares of the company's stock, valued at approximately $1,661,114.20. This trade represents a 2.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,900 shares of company stock worth $12,168,079 over the last ninety days. 22.80% of the stock is currently owned by corporate insiders.

Madrigal Pharmaceuticals Stock Performance

NASDAQ MDGL traded down $7.25 during trading hours on Tuesday, reaching $323.98. The company's stock had a trading volume of 331,086 shares, compared to its average volume of 390,776. The stock has a market cap of $7.15 billion, a PE ratio of -12.92 and a beta of -0.41. The business has a 50-day simple moving average of $334.02 and a 200 day simple moving average of $298.83. Madrigal Pharmaceuticals, Inc. has a 52 week low of $189.00 and a 52 week high of $377.46. 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 (NASDAQ:MDGL - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) earnings per share (EPS) for the quarter, beating the consensus estimate of ($4.32) by $1.61. The firm had revenue of $103.32 million for the quarter, compared to analyst estimates of $97.81 million. Equities research 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.