Madrigal Pharmaceuticals, Inc. $MDGL Stock Position Trimmed by William Blair Investment Management LLC

William Blair Investment Management LLC cut its position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 14.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 354,220 shares of the biopharmaceutical company’s stock after selling 57,582 shares during the quarter. William Blair Investment Management LLC owned about 1.56% of Madrigal Pharmaceuticals worth $206,276,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Accent Capital Management LLC lifted its position in Madrigal Pharmaceuticals by 64.9% in the 4th quarter. Accent Capital Management LLC now owns 94 shares of the biopharmaceutical company’s stock valued at $55,000 after purchasing an additional 37 shares during the last quarter. Jefferies Financial Group Inc. bought a new stake in Madrigal Pharmaceuticals in the 4th quarter valued at about $1,339,000. IFP Advisors Inc increased its stake in Madrigal Pharmaceuticals by 24.3% during the 4th quarter. IFP Advisors Inc now owns 461 shares of the biopharmaceutical company’s stock valued at $268,000 after buying an additional 90 shares during the period. PSP Research LLC acquired a new position in Madrigal Pharmaceuticals during the 4th quarter valued at about $519,000. Finally, Intrust Bank NA increased its stake in Madrigal Pharmaceuticals by 25.8% during the 4th quarter. Intrust Bank NA now owns 848 shares of the biopharmaceutical company’s stock valued at $494,000 after buying an additional 174 shares during the period. 98.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on MDGL shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a research note on Tuesday, April 21st. Evercore set a $649.00 target price on shares of Madrigal Pharmaceuticals in a research note on Thursday, May 7th. Barclays started coverage on shares of Madrigal Pharmaceuticals in a research note on Tuesday, January 27th. They set an “overweight” rating and a $964.00 target price on the stock. Bank of America lowered their target price 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. Finally, Canaccord Genuity Group lowered their target price on shares of Madrigal Pharmaceuticals from $587.00 to $578.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $687.00.

Madrigal Pharmaceuticals Stock Up 0.7%

Madrigal Pharmaceuticals stock opened at $517.26 on Friday. The stock has a market cap of $11.93 billion, a price-to-earnings ratio of -40.41 and a beta of -1.04. The company has a current ratio of 3.50, a quick ratio of 3.16 and a debt-to-equity ratio of 0.63. The company’s 50-day moving average price is $506.40 and its two-hundred day moving average price is $513.49. Madrigal Pharmaceuticals, Inc. has a 52 week low of $265.00 and a 52 week high of $615.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported ($3.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.61) by $0.36. The company had revenue of $311.34 million for the quarter, compared to analysts’ expectations of $301.05 million. Madrigal Pharmaceuticals had a negative net margin of 27.32% and a negative return on equity of 50.15%. The business’s revenue was up 126.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($3.32) EPS. On average, analysts expect that Madrigal Pharmaceuticals, Inc. will post -6.49 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Mardi Dier sold 1,982 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $430.87, for a total value of $853,984.34. Following the transaction, the chief financial officer owned 12,490 shares of the company’s stock, valued at $5,381,566.30. The trade was a 13.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO William John Sibold sold 1,663 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $431.94, for a total transaction of $718,316.22. Following the completion of the transaction, the chief executive officer directly owned 161,829 shares in the company, valued at $69,900,418.26. This represents a 1.02% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 12,624 shares of company stock worth $5,990,403. 17.60% of the stock is owned by insiders.

Madrigal Pharmaceuticals Company Profile

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.