Insider Selling: Madrigal Pharmaceuticals (NASDAQ:MDGL) General Counsel Sells 1,304 Shares of Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) General Counsel Shannon Kelley sold 1,304 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $367.81, for a total value of $479,624.24. Following the sale, the general counsel owned 9,173 shares in the company, valued at $3,373,921.13. The trade was a 12.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Madrigal Pharmaceuticals Trading Up 3.2%

Shares of NASDAQ MDGL opened at $391.66 on Thursday. The stock’s 50 day moving average price is $316.47 and its two-hundred day moving average price is $315.55. Madrigal Pharmaceuticals, Inc. has a 52-week low of $200.63 and a 52-week high of $393.77. The stock has a market capitalization of $8.69 billion, a P/E ratio of -30.48 and a beta of -1.02. The company has a quick ratio of 4.78, a current ratio of 5.11 and a debt-to-equity ratio of 0.17.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported ($1.90) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.48) by $1.58. Madrigal Pharmaceuticals had a negative return on equity of 38.38% and a negative net margin of 54.68%.The firm had revenue of $212.80 million for the quarter, compared to analysts’ expectations of $158.94 million. During the same quarter in the prior year, the firm posted ($7.10) earnings per share. Madrigal Pharmaceuticals’s revenue for the quarter was up 1357.5% compared to the same quarter last year. On average, analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MDGL. Envestnet Asset Management Inc. grew its holdings in Madrigal Pharmaceuticals by 2.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 15,001 shares of the biopharmaceutical company’s stock worth $4,629,000 after buying an additional 334 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in Madrigal Pharmaceuticals by 120.2% in the 4th quarter. Russell Investments Group Ltd. now owns 1,482 shares of the biopharmaceutical company’s stock worth $457,000 after buying an additional 809 shares in the last quarter. Cerity Partners LLC bought a new position in Madrigal Pharmaceuticals in the 4th quarter worth approximately $453,000. Raymond James Financial Inc. bought a new position in Madrigal Pharmaceuticals in the 4th quarter worth approximately $16,615,000. Finally, Barclays PLC grew its holdings in Madrigal Pharmaceuticals by 32.2% in the 4th quarter. Barclays PLC now owns 53,253 shares of the biopharmaceutical company’s stock worth $16,433,000 after buying an additional 12,974 shares in the last quarter. 98.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MDGL. B. Riley reaffirmed a “buy” rating and set a $460.00 target price (up from $422.00) on shares of Madrigal Pharmaceuticals in a report on Friday, May 2nd. UBS Group reaffirmed a “buy” rating and set a $523.00 target price (up from $458.00) on shares of Madrigal Pharmaceuticals in a report on Tuesday, August 12th. Canaccord Genuity Group upped their target price on Madrigal Pharmaceuticals from $420.00 to $428.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. JMP Securities upped their target price on Madrigal Pharmaceuticals from $483.00 to $485.00 and gave the company a “market outperform” rating in a report on Wednesday. Finally, Wall Street Zen raised Madrigal Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Monday, May 5th. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $445.71.

Madrigal Pharmaceuticals Company Profile

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.