Insider Selling: Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) CEO Sells $1,551,490.29 in Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) CEO William John Sibold sold 6,363 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $243.83, for a total transaction of $1,551,490.29. Following the transaction, the chief executive officer now directly owns 55,887 shares of the company’s stock, valued at $13,626,927.21. The sale was disclosed in a document filed with the SEC, which is available through this link.

Madrigal Pharmaceuticals Stock Up 3.0 %

MDGL stock opened at $241.80 on Friday. The stock has a market cap of $5.25 billion, a PE ratio of -10.47 and a beta of -0.43. The firm’s 50-day simple moving average is $260.84 and its 200 day simple moving average is $250.45. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $299.98. The company has a quick ratio of 8.67, a current ratio of 8.72 and a debt-to-equity ratio of 0.14.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($7.10) EPS for the quarter, beating the consensus estimate of ($7.55) by $0.45. The firm had revenue of $14.64 million during the quarter, compared to analyst estimates of $4.25 million. Madrigal Pharmaceuticals’s revenue for the quarter was up 146280.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($4.69) EPS. As a group, sell-side analysts predict that Madrigal Pharmaceuticals, Inc. will post -27.67 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on MDGL shares. StockNews.com raised shares of Madrigal Pharmaceuticals to a “sell” rating in a research report on Monday, September 9th. Citigroup decreased their target price on Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. JMP Securities boosted their price target on Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the company a “market outperform” rating in a report on Tuesday, July 16th. Evercore ISI reduced their price objective on Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Finally, Cantor Fitzgerald reissued a “neutral” rating on shares of Madrigal Pharmaceuticals in a report on Tuesday, July 23rd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $343.83.

Institutional Trading of Madrigal Pharmaceuticals

Several large investors have recently added to or reduced their stakes in MDGL. Rhenman & Partners Asset Management AB bought a new position in shares of Madrigal Pharmaceuticals in the fourth quarter worth $5,206,000. Norges Bank bought a new position in Madrigal Pharmaceuticals in the 4th quarter valued at about $33,686,000. BNP Paribas Financial Markets increased its stake in Madrigal Pharmaceuticals by 37.0% during the 4th quarter. BNP Paribas Financial Markets now owns 22,769 shares of the biopharmaceutical company’s stock valued at $5,268,000 after buying an additional 6,148 shares during the period. Paulson & CO. Inc. raised its position in shares of Madrigal Pharmaceuticals by 121.1% during the 4th quarter. Paulson & CO. Inc. now owns 1,105,741 shares of the biopharmaceutical company’s stock worth $255,846,000 after buying an additional 605,741 shares in the last quarter. Finally, Rheos Capital Works Inc. acquired a new stake in shares of Madrigal Pharmaceuticals in the 1st quarter worth approximately $29,432,000. 98.50% of the stock is currently owned by institutional investors and hedge funds.

About Madrigal Pharmaceuticals

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.