William Blair Investment Management LLC Invests $114.72 Million in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

William Blair Investment Management LLC acquired a new position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 371,771 shares of the biopharmaceutical company's stock, valued at approximately $114,717,000. William Blair Investment Management LLC owned about 1.70% of Madrigal Pharmaceuticals at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Kohmann Bosshard Financial Services LLC bought a new position in Madrigal Pharmaceuticals during the fourth quarter worth $70,000. Quest Partners LLC boosted its holdings in shares of Madrigal Pharmaceuticals by 172.8% during the 3rd 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 grew its stake in Madrigal Pharmaceuticals by 73.5% in the 4th quarter. KBC Group NV now owns 609 shares of the biopharmaceutical company's stock valued at $188,000 after buying an additional 258 shares during the last quarter. Miracle Mile Advisors LLC bought a new position in Madrigal Pharmaceuticals in the 4th quarter valued at about $216,000. Finally, D.A. Davidson & CO. acquired a new stake in Madrigal Pharmaceuticals during the fourth quarter worth approximately $221,000. 98.50% of the stock is owned by institutional investors.

Madrigal Pharmaceuticals Price Performance

Madrigal Pharmaceuticals stock traded up $6.49 during midday trading on Friday, reaching $341.62. The company's stock had a trading volume of 271,746 shares, compared to its average volume of 389,185. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15. The stock has a market cap of $7.54 billion, a PE ratio of -13.62 and a beta of -0.40. Madrigal Pharmaceuticals, Inc. has a 52 week low of $189.00 and a 52 week high of $377.46. The business has a 50-day moving average price of $327.47 and a 200-day moving average price of $292.72.

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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 company had revenue of $103.32 million for the quarter, compared to the consensus estimate of $97.81 million. On average, sell-side analysts predict that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current year.

Insider Transactions at Madrigal Pharmaceuticals

In related news, CMO Rebecca Taub sold 1,689 shares of the business's stock in a transaction on Friday, January 17th. The stock was sold at an average price of $273.41, for a total transaction of $461,789.49. Following the sale, the chief marketing officer now owns 457,310 shares in the company, valued at $125,033,127.10. The trade was a 0.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Carole Huntsman sold 347 shares of the company's stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $335.24, for a total value of $116,328.28. Following the completion of the transaction, the insider now directly owns 10,438 shares of the company's stock, valued at approximately $3,499,235.12. The trade was a 3.22 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,900 shares of company stock worth $12,168,079. Corporate insiders own 22.80% of the company's stock.

Wall Street Analysts Forecast Growth

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