Insider Selling: Madrigal Pharmaceuticals (NASDAQ:MDGL) General Counsel Sells 360 Shares of Stock

by · The Markets Daily

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL – Get Free Report) General Counsel Shannon Kelley sold 360 shares of the business’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $431.94, for a total value of $155,498.40. Following the completion of the transaction, the general counsel owned 12,138 shares in the company, valued at $5,242,887.72. This trade represents a 2.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Madrigal Pharmaceuticals Stock Down 1.5%

Shares of NASDAQ MDGL traded down $6.51 during trading hours on Friday, hitting $432.83. The stock had a trading volume of 440,127 shares, compared to its average volume of 374,182. The company has a market capitalization of $9.93 billion, a P/E ratio of -33.63 and a beta of -0.97. The firm’s 50-day moving average price is $492.64 and its two-hundred day moving average price is $486.72. Madrigal Pharmaceuticals, Inc. has a 52 week low of $265.00 and a 52 week high of $615.00. The company has a debt-to-equity ratio of 0.56, a quick ratio of 3.77 and a current ratio of 4.01.

Madrigal Pharmaceuticals (NASDAQ:MDGL – Get Free Report) last issued its quarterly earnings data on Thursday, February 19th. The biopharmaceutical company reported ($2.57) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($2.61). The business had revenue of $321.08 million for the quarter, compared to the consensus estimate of $310.36 million. Madrigal Pharmaceuticals had a negative net margin of 30.08% and a negative return on equity of 43.76%. Madrigal Pharmaceuticals’s revenue was up 210.8% compared to the same quarter last year. During the same period in the previous year, the business posted ($2.71) EPS. Analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current fiscal year.

Institutional Trading of Madrigal Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP increased its holdings in shares of Madrigal Pharmaceuticals by 5,381.2% during the 3rd quarter. Wellington Management Group LLP now owns 404,455 shares of the biopharmaceutical company’s stock worth $185,507,000 after purchasing an additional 397,076 shares during the period. Norges Bank acquired a new stake in Madrigal Pharmaceuticals during the fourth quarter worth about $114,368,000. Adage Capital Partners GP L.L.C. increased its stake in Madrigal Pharmaceuticals by 96.3% during the second quarter. Adage Capital Partners GP L.L.C. now owns 376,163 shares of the biopharmaceutical company’s stock valued at $113,842,000 after acquiring an additional 184,554 shares during the period. Baker BROS. Advisors LP raised its holdings in Madrigal Pharmaceuticals by 8.4% in the 3rd quarter. Baker BROS. Advisors LP now owns 2,141,701 shares of the biopharmaceutical company’s stock valued at $982,313,000 after acquiring an additional 165,683 shares in the last quarter. Finally, Deutsche Bank AG raised its holdings in Madrigal Pharmaceuticals by 414.5% in the 4th quarter. Deutsche Bank AG now owns 192,109 shares of the biopharmaceutical company’s stock valued at $111,873,000 after acquiring an additional 154,767 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MDGL has been the topic of a number of analyst reports. Barclays started coverage on Madrigal Pharmaceuticals in a report on Tuesday, January 27th. They set an “overweight” rating and a $964.00 price objective on the stock. Citigroup restated an “outperform” rating on shares of Madrigal Pharmaceuticals in a research note on Tuesday, January 20th. Piper Sandler upped their price objective on shares of Madrigal Pharmaceuticals from $540.00 to $900.00 and gave the stock an “overweight” rating in a report on Friday, December 19th. Zacks Research upgraded shares of Madrigal Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Friday, February 20th. Finally, UBS Group set a $900.00 target price on shares of Madrigal Pharmaceuticals in a research report on Friday, December 19th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $685.31.

Read Our Latest Stock Analysis on Madrigal Pharmaceuticals

About Madrigal Pharmaceuticals

(Get Free Report)

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.

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