Insider Selling: Madrigal Pharmaceuticals (NASDAQ:MDGL) CEO Sells $718,316.22 in Stock

by · The Markets Daily

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL – Get Free Report) CEO William John Sibold sold 1,663 shares of Madrigal Pharmaceuticals stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $431.94, for a total value of $718,316.22. Following the transaction, the chief executive officer owned 161,829 shares of the company’s stock, valued at $69,900,418.26. The trade was a 1.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

William John Sibold also recently made the following trade(s):

  • On Monday, January 26th, William John Sibold sold 1,577 shares of Madrigal Pharmaceuticals stock. The shares were sold at an average price of $492.42, for a total value of $776,546.34.

Madrigal Pharmaceuticals Stock Performance

Shares of NASDAQ MDGL traded down $6.51 during midday trading on Friday, hitting $432.83. 440,127 shares of the company’s stock were exchanged, compared to its average volume of 374,182. The company has a quick ratio of 3.77, a current ratio of 4.01 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $9.93 billion, a PE ratio of -33.63 and a beta of -0.97. Madrigal Pharmaceuticals, Inc. has a 12 month low of $265.00 and a 12 month high of $615.00. The company’s 50 day moving average price is $492.64 and its 200 day moving average price is $486.72.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Baker BROS. Advisors LP raised its position in Madrigal Pharmaceuticals by 8.4% during the 3rd quarter. Baker BROS. Advisors LP now owns 2,141,701 shares of the biopharmaceutical company’s stock worth $982,313,000 after purchasing an additional 165,683 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Madrigal Pharmaceuticals by 14.1% during the 4th quarter. Wellington Management Group LLP now owns 461,402 shares of the biopharmaceutical company’s stock worth $268,693,000 after buying an additional 56,947 shares during the period. Geode Capital Management LLC increased its stake in Madrigal Pharmaceuticals by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 451,743 shares of the biopharmaceutical company’s stock valued at $263,114,000 after purchasing an additional 5,510 shares in the last quarter. William Blair Investment Management LLC increased its position in Madrigal Pharmaceuticals by 17.6% in the 3rd quarter. William Blair Investment Management LLC now owns 411,802 shares of the biopharmaceutical company’s stock valued at $188,877,000 after buying an additional 61,513 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. raised its position in shares of 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 worth $113,842,000 after purchasing an additional 184,554 shares during the period. Institutional investors and hedge funds own 98.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on MDGL shares. Weiss Ratings restated a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a research report on Thursday, January 22nd. UBS Group set a $900.00 price target on Madrigal Pharmaceuticals in a research note on Friday, December 19th. Citigroup reiterated an “outperform” rating on shares of Madrigal Pharmaceuticals in a research report on Tuesday, January 20th. Piper Sandler lifted their target price on Madrigal Pharmaceuticals from $540.00 to $900.00 and gave the stock an “overweight” rating in a report on Friday, December 19th. Finally, Bank of America lowered their price target 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. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $685.31.

Get Our Latest Analysis on MDGL

Madrigal Pharmaceuticals Company Profile

(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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