William Blair Investment Management LLC Acquires Shares of 324,123 Madrigal Pharmaceuticals, Inc. $MDGL

William Blair Investment Management LLC bought a new stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 324,123 shares of the biopharmaceutical company’s stock, valued at approximately $174,038,000. William Blair Investment Management LLC owned about 1.40% of Madrigal Pharmaceuticals at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Persistent Asset Partners Ltd purchased a new position in shares of Madrigal Pharmaceuticals in the 2nd quarter worth about $29,000. Global Retirement Partners LLC purchased a new stake in Madrigal Pharmaceuticals during the second quarter worth about $34,000. Kemnay Advisory Services Inc. bought a new stake in Madrigal Pharmaceuticals in the fourth quarter worth about $39,000. Quarry LP bought a new stake in Madrigal Pharmaceuticals in the third quarter worth about $39,000. Finally, Accent Capital Management LLC boosted its stake in Madrigal Pharmaceuticals by 64.9% in the fourth quarter. Accent Capital Management LLC now owns 94 shares of the biopharmaceutical company’s stock valued at $55,000 after acquiring an additional 37 shares during the last quarter. 98.50% of the stock is currently owned by institutional investors.

Madrigal Pharmaceuticals Price Performance

MDGL opened at $516.74 on Friday. The firm has a 50-day moving average price of $524.40 and a 200-day moving average price of $501.02. Madrigal Pharmaceuticals, Inc. has a twelve month low of $393.61 and a twelve month high of $615.00. The company has a quick ratio of 2.94, a current ratio of 3.20 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $11.94 billion, a price-to-earnings ratio of -40.09 and a beta of -1.01.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported ($1.99) EPS for the quarter, beating analysts’ consensus estimates of ($2.68) by $0.69. The company had revenue of $364.25 million for the quarter, compared to analysts’ expectations of $352.13 million. Madrigal Pharmaceuticals had a negative net margin of 25.32% and a negative return on equity of 56.65%. Madrigal Pharmaceuticals’s revenue was up 71.2% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.90) EPS. Equities analysts expect that Madrigal Pharmaceuticals, Inc. will post -7.03 EPS for the current year.

Analyst Upgrades and Downgrades

MDGL has been the subject of several research analyst reports. Canaccord Genuity Group raised their price target on shares of Madrigal Pharmaceuticals from $578.00 to $587.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. UBS Group reiterated a “buy” rating on shares of Madrigal Pharmaceuticals in a research note on Friday, July 31st. Bank of America reduced their price objective on Madrigal Pharmaceuticals from $550.00 to $542.00 and set a “neutral” rating for the company in a report on Thursday, June 11th. Truist Financial boosted their target price on Madrigal Pharmaceuticals from $640.00 to $709.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Finally, Evercore set a $649.00 target price on Madrigal Pharmaceuticals in a research note on Thursday, May 7th. Fifteen research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $689.93.

Insiders Place Their Bets

In other Madrigal Pharmaceuticals news, insider David Soergel sold 1,042 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $495.74, for a total transaction of $516,561.08. Following the sale, the insider owned 10,033 shares in the company, valued at $4,973,759.42. This represents a 9.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Shannon T. Kelley sold 664 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $514.97, for a total value of $341,940.08. Following the completion of the transaction, the general counsel directly owned 11,474 shares of the company’s stock, valued at $5,908,765.78. The trade was a 5.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 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-? agonist in Phase 3 development for the treatment of NASH.