Insider Selling: Madrigal Pharmaceuticals (NASDAQ:MDGL) CEO Sells $3,407,423.58 in Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) CEO William Sibold sold 6,362 shares of the stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $535.59, for a total transaction of $3,407,423.58. Following the completion of the transaction, the chief executive officer owned 202,967 shares in the company, valued at $108,707,095.53. The trade was a 3.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Friday, September 11th, William Sibold sold 5,221 shares of Madrigal Pharmaceuticals stock. The stock was sold at an average price of $542.39, for a total transaction of $2,831,818.19.

Madrigal Pharmaceuticals Stock Performance

Shares of MDGL stock traded up $1.37 during mid-day trading on Friday, reaching $534.49. 187,642 shares of the company’s stock traded hands, compared to its average volume of 339,731. The company has a debt-to-equity ratio of 0.65, a quick ratio of 2.94 and a current ratio of 3.20. The firm has a market capitalization of $12.35 billion, a PE ratio of -41.47 and a beta of -0.98. Madrigal Pharmaceuticals, Inc. has a 12 month low of $393.61 and a 12 month high of $615.00. The firm has a 50 day moving average price of $530.87 and a two-hundred day moving average price of $507.44.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its earnings results on Thursday, July 30th. The biopharmaceutical company reported ($1.99) EPS for the quarter, topping analysts’ consensus estimates of ($2.68) by $0.69. The company had revenue of $364.25 million for the quarter, compared to analysts’ expectations of $352.13 million. Madrigal Pharmaceuticals had a negative return on equity of 56.65% and a negative net margin of 25.32%.Madrigal Pharmaceuticals’s revenue for the quarter was up 71.2% compared to the same quarter last year. During the same period last year, the firm earned ($1.90) EPS. On average, research analysts forecast that Madrigal Pharmaceuticals, Inc. will post -7.03 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MDGL. Canaccord Genuity Group raised their price objective on Madrigal Pharmaceuticals from $578.00 to $587.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a research note on Friday, July 17th. Piper Sandler reissued an “overweight” rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, June 24th. Wolfe Research upgraded shares of Madrigal Pharmaceuticals from a “peer perform” rating to an “outperform” rating and set a $605.00 target price on the stock in a research note on Tuesday, August 4th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Madrigal Pharmaceuticals in a report on Friday, July 31st. Fifteen research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $699.64.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

Several hedge funds have recently modified their holdings of MDGL. California State Teachers Retirement System lifted its position in shares of Madrigal Pharmaceuticals by 54,067.5% in the second quarter. California State Teachers Retirement System now owns 9,233,929 shares of the biopharmaceutical company’s stock worth $4,958,158,000 after buying an additional 9,216,882 shares in the last quarter. Jupiter Topco LLC purchased a new position in Madrigal Pharmaceuticals during the 2nd quarter valued at approximately $1,039,650,000. Paulson & CO. Inc. bought a new stake in Madrigal Pharmaceuticals in the 2nd quarter worth approximately $719,524,000. BlackRock Inc. bought a new stake in Madrigal Pharmaceuticals in the 2nd quarter worth approximately $644,753,000. Finally, Janus Henderson Group PLC raised its holdings in shares of Madrigal Pharmaceuticals by 27.4% during the 1st quarter. Janus Henderson Group PLC now owns 2,018,647 shares of the biopharmaceutical company’s stock worth $1,051,727,000 after acquiring an additional 433,804 shares in the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Company Profile

Madrigal Pharmaceuticals, Inc (NASDAQ: MDGL) is a biopharmaceutical company focused on developing and commercializing therapies for cardiometabolic diseases, particularly nonalcoholic steatohepatitis, now commonly referred to as metabolic dysfunction-associated steatohepatitis (MASH).

The company’s lead product is Rezdiffra (resmetirom), an oral, thyroid hormone receptor beta agonist designed to target underlying liver disease. In 2024, the U.S. Food and Drug Administration approved Rezdiffra for use with diet and exercise to treat adults with noncirrhotic MASH and moderate to advanced liver fibrosis.