Madrigal Pharmaceuticals, Inc. $MDGL Shares Sold by William Blair Investment Management LLC

William Blair Investment Management LLC lowered its holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 14.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 354,220 shares of the biopharmaceutical company’s stock after selling 57,582 shares during the period. William Blair Investment Management LLC’s holdings in Madrigal Pharmaceuticals were worth $206,276,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Accent Capital Management LLC increased its position in shares of Madrigal Pharmaceuticals by 64.9% in the fourth quarter. Accent Capital Management LLC now owns 94 shares of the biopharmaceutical company’s stock worth $55,000 after acquiring an additional 37 shares in the last quarter. Jefferies Financial Group Inc. purchased a new position in shares of Madrigal Pharmaceuticals in the fourth quarter worth approximately $1,339,000. IFP Advisors Inc increased its position in shares of Madrigal Pharmaceuticals by 24.3% in the fourth quarter. IFP Advisors Inc now owns 461 shares of the biopharmaceutical company’s stock worth $268,000 after acquiring an additional 90 shares in the last quarter. PSP Research LLC purchased a new position in shares of Madrigal Pharmaceuticals in the fourth quarter worth approximately $519,000. Finally, Intrust Bank NA increased its position in shares of Madrigal Pharmaceuticals by 25.8% in the fourth quarter. Intrust Bank NA now owns 848 shares of the biopharmaceutical company’s stock worth $494,000 after acquiring an additional 174 shares in the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Stock Performance

MDGL stock opened at $517.26 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.16 and a current ratio of 3.50. The stock has a market cap of $11.93 billion, a P/E ratio of -40.41 and a beta of -1.04. The firm has a 50 day simple moving average of $506.40 and a 200 day simple moving average of $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 posted its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($3.25) EPS for the quarter, topping the consensus estimate of ($3.61) by $0.36. The business had revenue of $311.34 million during 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 firm’s quarterly revenue was up 126.8% compared to the same quarter last year. During the same period last year, the company posted ($3.32) earnings per share. Research analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -6.49 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MDGL has been the topic of several analyst reports. Canaccord Genuity Group dropped 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 report on Thursday, May 7th. Evercore set a $649.00 target price on shares of Madrigal Pharmaceuticals in a research report on Thursday, May 7th. Bank of America dropped 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 report on Friday, February 20th. HC Wainwright reissued a “buy” rating and issued a $620.00 target price on shares of Madrigal Pharmaceuticals in a research report on Wednesday, May 6th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Madrigal Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $687.00.

Insider Buying and Selling at Madrigal Pharmaceuticals

In related news, insider Carole Huntsman sold 419 shares of the firm’s stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $431.94, for a total transaction of $180,982.86. Following the completion of the sale, the insider directly owned 12,692 shares in the company, valued at approximately $5,482,182.48. This trade represents a 3.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider David Soergel sold 844 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $515.90, for a total transaction of $435,419.60. Following the sale, the insider owned 11,075 shares of the company’s stock, valued at approximately $5,713,592.50. This represents a 7.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 12,624 shares of company stock valued at $5,990,403 in the last 90 days. Corporate insiders own 17.60% of the company’s stock.

Madrigal Pharmaceuticals 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.