American Century Companies Inc. Has $75.96 Million Stock Position in Madrigal Pharmaceuticals, Inc. $MDGL

American Century Companies Inc. reduced its position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 1.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 165,615 shares of the biopharmaceutical company’s stock after selling 2,169 shares during the period. American Century Companies Inc. owned about 0.73% of Madrigal Pharmaceuticals worth $75,962,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Adage Capital Partners GP L.L.C. grew its stake in shares of Madrigal Pharmaceuticals by 96.3% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 376,163 shares of the biopharmaceutical company’s stock valued at $113,842,000 after buying an additional 184,554 shares in the last quarter. Bank of America Corp DE raised its position in Madrigal Pharmaceuticals by 12.7% during the second quarter. Bank of America Corp DE now owns 277,221 shares of the biopharmaceutical company’s stock valued at $83,898,000 after acquiring an additional 31,260 shares in the last quarter. Hood River Capital Management LLC lifted its stake in Madrigal Pharmaceuticals by 0.3% in the second quarter. Hood River Capital Management LLC now owns 244,738 shares of the biopharmaceutical company’s stock valued at $74,068,000 after acquiring an additional 744 shares during the last quarter. Artisan Partners Limited Partnership grew its position in Madrigal Pharmaceuticals by 2.3% in the third quarter. Artisan Partners Limited Partnership now owns 206,254 shares of the biopharmaceutical company’s stock worth $94,600,000 after acquiring an additional 4,683 shares in the last quarter. Finally, Invesco Ltd. grew its position in Madrigal Pharmaceuticals by 50.7% in the second quarter. Invesco Ltd. now owns 200,356 shares of the biopharmaceutical company’s stock worth $60,636,000 after acquiring an additional 67,422 shares in the last quarter. 98.50% of the stock is owned by hedge funds and other institutional investors.

Madrigal Pharmaceuticals Stock Performance

Shares of MDGL opened at $425.85 on Wednesday. The company has a market capitalization of $9.77 billion, a PE ratio of -33.09 and a beta of -0.97. Madrigal Pharmaceuticals, Inc. has a one year low of $265.00 and a one year high of $615.00. The company has a debt-to-equity ratio of 0.56, a current ratio of 4.01 and a quick ratio of 3.77. The company’s fifty day moving average price is $502.62 and its 200 day moving average price is $487.13.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings results on Thursday, February 19th. The biopharmaceutical company reported ($2.57) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($2.61). The firm had revenue of $321.08 million for the quarter, compared to the consensus estimate of $310.36 million. Madrigal Pharmaceuticals had a negative net margin of 30.08% and a negative return on equity of 43.76%. The firm’s revenue was up 210.8% on a year-over-year basis. During the same quarter last year, the company earned ($2.71) earnings per share. As a group, analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current year.

Insider Activity

In other Madrigal Pharmaceuticals news, insider Carole Huntsman sold 910 shares of the firm’s stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $493.78, for a total value of $449,339.80. Following the sale, the insider owned 9,122 shares of the company’s stock, valued at $4,504,261.16. This trade represents a 9.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Mardi Dier sold 1,183 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $427.21, for a total value of $505,389.43. Following the completion of the transaction, the chief financial officer directly owned 9,257 shares in the company, valued at approximately $3,954,682.97. This represents a 11.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 96,547 shares of company stock worth $51,577,678 over the last 90 days. Company insiders own 21.50% of the company’s stock.

Analyst Ratings Changes

MDGL has been the topic of several analyst reports. Bank of America dropped their price target on shares of Madrigal Pharmaceuticals from $570.00 to $529.00 and set a “neutral” rating on the stock in a research note on Friday, February 20th. Barclays assumed coverage on shares of Madrigal Pharmaceuticals in a report on Tuesday, January 27th. They issued an “overweight” rating and a $964.00 price objective for the company. Canaccord Genuity Group raised their target price on Madrigal Pharmaceuticals from $526.00 to $587.00 and gave the company a “buy” rating in a report on Thursday, November 13th. Oppenheimer boosted their price target on Madrigal Pharmaceuticals from $600.00 to $650.00 and gave the stock an “outperform” rating in a research report on Thursday, November 20th. Finally, UBS Group set a $900.00 price target on Madrigal Pharmaceuticals in a research note on Friday, December 19th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Madrigal Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $685.31.

About Madrigal Pharmaceuticals

Madrigal Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the development of innovative therapies for cardiovascular, metabolic and liver diseases. The company’s pipeline centers on novel, liver-directed agents designed to address significant unmet medical needs, with an emphasis on nonalcoholic steatohepatitis (NASH) and related metabolic disorders.

The lead product candidate, resmetirom (MGL-3196), is an orally administered, selective thyroid hormone receptor-β agonist in Phase 3 development for the treatment of NASH.