Insider Selling: Madrigal Pharmaceuticals (NASDAQ:MDGL) General Counsel Sells $341,940.08 in Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) General Counsel Shannon Kelley sold 664 shares of Madrigal Pharmaceuticals stock in a transaction on Monday, August 17th. The shares were sold at an average price of $514.97, for a total transaction of $341,940.08. Following the completion of the transaction, the general counsel directly owned 11,474 shares in the company, valued at $5,908,765.78. The trade was a 5.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Madrigal Pharmaceuticals Stock Performance

MDGL stock traded down $21.07 on Thursday, hitting $519.09. The company’s stock had a trading volume of 264,369 shares, compared to its average volume of 352,486. The stock has a market cap of $11.99 billion, a price-to-earnings ratio of -40.27 and a beta of -1.01. The firm has a 50 day moving average of $522.79 and a two-hundred day moving average of $500.70. The company has a current ratio of 3.20, a quick ratio of 2.94 and a debt-to-equity ratio of 0.65. Madrigal Pharmaceuticals, Inc. has a 1 year low of $392.96 and a 1 year high of $615.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported ($1.99) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.68) by $0.69. The company had revenue of $364.25 million for the quarter, compared to the consensus estimate of $352.13 million. Madrigal Pharmaceuticals had a negative net margin of 25.32% and a negative return on equity of 56.65%. Madrigal Pharmaceuticals’s revenue for the quarter was up 71.2% on a year-over-year basis. During the same period last year, the firm posted ($1.90) EPS. Equities analysts predict that Madrigal Pharmaceuticals, Inc. will post -7.03 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. UBS Group restated a “buy” rating on shares of Madrigal Pharmaceuticals in a research report on Friday, July 31st. Citigroup reaffirmed an “outperform” rating on shares of Madrigal Pharmaceuticals in a research report on Friday, July 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a research note on Friday, July 17th. Evercore set a $649.00 target price on Madrigal Pharmaceuticals in a report on Thursday, May 7th. Finally, Barclays cut their price target on Madrigal Pharmaceuticals from $964.00 to $962.00 and set an “overweight” rating for the company in a research note on Monday, August 3rd. Fifteen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $689.93.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in MDGL. Persistent Asset Partners Ltd purchased a new position in shares of Madrigal Pharmaceuticals during the 2nd quarter worth approximately $29,000. Global Retirement Partners LLC purchased a new stake in shares of Madrigal Pharmaceuticals in the second quarter valued at approximately $34,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Madrigal Pharmaceuticals in the fourth quarter valued at approximately $39,000. Quarry LP acquired a new position in Madrigal Pharmaceuticals during the third quarter worth $39,000. Finally, Johnson Financial Group Inc. acquired a new position in Madrigal Pharmaceuticals during the third quarter worth $50,000. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Company Profile

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.