Insider Selling: Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Director Sells 15,470 Shares of Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Director James M. Daly sold 15,470 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $347.45, for a total transaction of $5,375,051.50. Following the transaction, the director now directly owns 1,912 shares in the company, valued at $664,324.40. The trade was a 89.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Madrigal Pharmaceuticals Price Performance

NASDAQ MDGL traded up $5.53 during trading hours on Friday, hitting $341.27. The company had a trading volume of 330,378 shares, compared to its average volume of 431,005. Madrigal Pharmaceuticals, Inc. has a 52 week low of $189.00 and a 52 week high of $377.46. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.93 and a current ratio of 5.98. The firm has a market capitalization of $7.44 billion, a price-to-earnings ratio of -13.61 and a beta of -0.38. The firm has a 50 day simple moving average of $322.27 and a 200 day simple moving average of $284.05.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings data on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) EPS for the quarter, topping the consensus estimate of ($4.32) by $1.61. The company had revenue of $103.32 million during the quarter, compared to analysts’ expectations of $97.81 million. Equities research analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current year.

Analyst Ratings Changes

MDGL has been the subject of several recent research reports. HC Wainwright boosted their price target on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the company a “buy” rating in a research note on Thursday. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, November 20th. B. Riley upgraded shares of Madrigal Pharmaceuticals from a “hold” rating to a “strong-buy” rating and increased their price target for the company from $236.00 to $422.00 in a research report on Thursday. JMP Securities reaffirmed a “market outperform” rating and set a $427.00 price target on shares of Madrigal Pharmaceuticals in a research note on Friday, January 10th. Finally, UBS Group upped their price objective on Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $375.75.

Institutional Trading of Madrigal Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the business. Creative Planning lifted its position in Madrigal Pharmaceuticals by 2.7% in the 3rd quarter. Creative Planning now owns 3,299 shares of the biopharmaceutical company’s stock valued at $700,000 after acquiring an additional 87 shares in the last quarter. Nisa Investment Advisors LLC raised its position in shares of Madrigal Pharmaceuticals by 47.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock valued at $45,000 after purchasing an additional 68 shares during the period. Verity Asset Management Inc. boosted its stake in Madrigal Pharmaceuticals by 7.4% in the 3rd quarter. Verity Asset Management Inc. now owns 1,466 shares of the biopharmaceutical company’s stock worth $311,000 after purchasing an additional 101 shares during the period. Assetmark Inc. grew its position in shares of Madrigal Pharmaceuticals by 8.3% during the third quarter. Assetmark Inc. now owns 3,942 shares of the biopharmaceutical company’s stock valued at $837,000 after purchasing an additional 303 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Madrigal Pharmaceuticals by 1.8% during the 3rd quarter. Victory Capital Management Inc. now owns 2,292 shares of the biopharmaceutical company’s stock valued at $486,000 after acquiring an additional 40 shares during the last quarter. 98.50% of the stock is owned by hedge funds and other institutional investors.

Madrigal Pharmaceuticals Company Profile

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.