Richard Levy Sells 8,500 Shares of Madrigal Pharmaceuticals (NASDAQ:MDGL) Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Director Richard Levy sold 8,500 shares of the business’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $520.96, for a total value of $4,428,160.00. Following the completion of the sale, the director owned 21,197 shares of the company’s stock, valued at $11,042,789.12. This trade represents a 28.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Madrigal Pharmaceuticals Price Performance

Shares of MDGL stock traded up $14.28 during trading on Friday, hitting $529.21. The company had a trading volume of 263,382 shares, compared to its average volume of 372,871. The firm has a market capitalization of $12.02 billion, a P/E ratio of -41.18 and a beta of -1.04. The company has a debt-to-equity ratio of 0.17, a quick ratio of 4.78 and a current ratio of 5.11. The stock’s 50-day moving average price is $443.96 and its 200 day moving average price is $363.40. Madrigal Pharmaceuticals, Inc. has a one year low of $265.00 and a one year high of $544.25.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings results on Tuesday, November 4th. The biopharmaceutical company reported ($5.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.01) by ($3.07). Madrigal Pharmaceuticals had a negative return on equity of 38.38% and a negative net margin of 54.68%. Equities analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on MDGL shares. B. Riley increased their price objective on shares of Madrigal Pharmaceuticals from $460.00 to $560.00 and gave the stock a “buy” rating in a research report on Monday, September 29th. Piper Sandler lifted their price target on shares of Madrigal Pharmaceuticals from $400.00 to $540.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. HC Wainwright raised their target price on Madrigal Pharmaceuticals from $500.00 to $568.00 and gave the company a “buy” rating in a research note on Tuesday. Cantor Fitzgerald raised Madrigal Pharmaceuticals from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 4th. Finally, UBS Group reaffirmed a “buy” rating and issued a $523.00 price objective (up from $458.00) on shares of Madrigal Pharmaceuticals in a research note on Tuesday, August 12th. Thirteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $539.17.

Institutional Trading of Madrigal Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its position in Madrigal Pharmaceuticals by 1.0% in the first quarter. Bank of New York Mellon Corp now owns 60,789 shares of the biopharmaceutical company’s stock worth $20,135,000 after buying an additional 579 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in Madrigal Pharmaceuticals by 1.8% during the first quarter. Envestnet Asset Management Inc. now owns 15,270 shares of the biopharmaceutical company’s stock worth $5,058,000 after purchasing an additional 269 shares during the last quarter. Xponance Inc. boosted its stake in shares of Madrigal Pharmaceuticals by 7.2% in the 1st quarter. Xponance Inc. now owns 1,359 shares of the biopharmaceutical company’s stock valued at $450,000 after purchasing an additional 91 shares in the last quarter. Mutual of America Capital Management LLC increased its holdings in shares of Madrigal Pharmaceuticals by 0.3% in the first quarter. Mutual of America Capital Management LLC now owns 11,263 shares of the biopharmaceutical company’s stock worth $3,731,000 after buying an additional 31 shares during the period. Finally, New York State Common Retirement Fund increased its stake in Madrigal Pharmaceuticals by 9.7% in the 1st quarter. New York State Common Retirement Fund now owns 44,771 shares of the biopharmaceutical company’s stock worth $14,829,000 after purchasing an additional 3,956 shares during the period. Institutional investors own 98.50% of the company’s stock.

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.