American Century Companies Inc. Purchases 13,361 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

American Century Companies Inc. boosted its holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 13.7% in the second quarter, HoldingsChannel reports. The institutional investor owned 111,113 shares of the biopharmaceutical company’s stock after purchasing an additional 13,361 shares during the quarter. American Century Companies Inc.’s holdings in Madrigal Pharmaceuticals were worth $31,130,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of MDGL. Rhenman & Partners Asset Management AB purchased a new stake in shares of Madrigal Pharmaceuticals during the fourth quarter worth about $5,206,000. Norges Bank bought a new position in shares of Madrigal Pharmaceuticals during the fourth quarter worth $33,686,000. Paulson & CO. Inc. grew its stake in Madrigal Pharmaceuticals by 121.1% during the fourth quarter. Paulson & CO. Inc. now owns 1,105,741 shares of the biopharmaceutical company’s stock valued at $255,846,000 after acquiring an additional 605,741 shares in the last quarter. Rheos Capital Works Inc. bought a new stake in Madrigal Pharmaceuticals in the 1st quarter valued at $29,432,000. Finally, AMI Asset Management Corp boosted its holdings in shares of Madrigal Pharmaceuticals by 101.5% during the 1st quarter. AMI Asset Management Corp now owns 9,618 shares of the biopharmaceutical company’s stock valued at $2,568,000 after purchasing an additional 4,845 shares during the last quarter. 98.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on MDGL. Cantor Fitzgerald reiterated a “neutral” rating on shares of Madrigal Pharmaceuticals in a research report on Tuesday, July 23rd. Citigroup cut their target price on shares of Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating for the company in a report on Thursday, August 8th. JMP Securities upped their price target on shares of Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the company a “market outperform” rating in a research note on Tuesday, July 16th. Wolfe Research started coverage on shares of Madrigal Pharmaceuticals in a research report on Tuesday, June 11th. They set an “outperform” rating and a $382.00 price objective for the company. Finally, StockNews.com upgraded shares of Madrigal Pharmaceuticals to a “sell” rating in a report on Monday, September 9th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $343.83.

Madrigal Pharmaceuticals Price Performance

Madrigal Pharmaceuticals stock opened at $233.36 on Wednesday. The stock has a market cap of $4.97 billion, a price-to-earnings ratio of -10.11 and a beta of -0.43. The firm has a 50-day moving average of $258.50 and a two-hundred day moving average of $250.35. Madrigal Pharmaceuticals, Inc. has a 1 year low of $119.76 and a 1 year high of $299.98. The company has a debt-to-equity ratio of 0.14, a current ratio of 8.72 and a quick ratio of 8.67.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($7.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($7.55) by $0.45. The firm had revenue of $14.64 million during the quarter, compared to the consensus estimate of $4.25 million. The firm’s revenue for the quarter was up 146280.0% compared to the same quarter last year. During the same period last year, the company earned ($4.69) EPS. On average, research analysts forecast that Madrigal Pharmaceuticals, Inc. will post -27.67 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO William John Sibold sold 6,363 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $243.83, for a total value of $1,551,490.29. Following the completion of the sale, the chief executive officer now owns 55,887 shares in the company, valued at approximately $13,626,927.21. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 23.92% of the stock is owned by insiders.

Madrigal Pharmaceuticals 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.