Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) CEO Sells $531,020.16 in Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) CEO William John Sibold sold 1,584 shares of the firm’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $335.24, for a total transaction of $531,020.16. Following the completion of the sale, the chief executive officer now owns 54,303 shares of the company’s stock, valued at $18,204,537.72. This trade represents a 2.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Madrigal Pharmaceuticals Stock Down 5.2 %

NASDAQ:MDGL traded down $17.22 during trading hours on Monday, hitting $310.92. The stock had a trading volume of 558,393 shares, compared to its average volume of 502,950. The company has a market cap of $6.78 billion, a PE ratio of -12.40 and a beta of -0.36. The business has a 50 day simple moving average of $314.37 and a two-hundred day simple moving average of $273.95. Madrigal Pharmaceuticals, Inc. has a 1-year low of $168.25 and a 1-year high of $368.29. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($4.92) EPS for the quarter, topping analysts’ consensus estimates of ($6.94) by $2.02. The firm had revenue of $62.18 million during the quarter, compared to analyst estimates of $34.60 million. During the same quarter in the prior year, the firm earned ($5.34) EPS. Analysts predict that Madrigal Pharmaceuticals, Inc. will post -23.55 EPS for the current year.

Wall Street Analysts Forecast Growth

MDGL has been the subject of several recent analyst reports. HC Wainwright lifted their price target on Madrigal Pharmaceuticals from $390.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. JMP Securities reaffirmed a “market outperform” rating and set a $427.00 price target on shares of Madrigal Pharmaceuticals in a research report on Friday, January 10th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, November 20th. StockNews.com raised shares of Madrigal Pharmaceuticals to a “sell” rating in a research note on Saturday, October 12th. Finally, Oppenheimer cut their target price on Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Madrigal Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $351.67.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

A number of hedge funds have recently bought and sold shares of MDGL. Paulson & CO. Inc. grew its position in shares of Madrigal Pharmaceuticals by 10.4% during the third quarter. Paulson & CO. Inc. now owns 2,042,000 shares of the biopharmaceutical company’s stock worth $433,353,000 after buying an additional 192,000 shares in the last quarter. RTW Investments LP boosted its stake in Madrigal Pharmaceuticals by 4.1% during the 3rd quarter. RTW Investments LP now owns 1,993,687 shares of the biopharmaceutical company’s stock valued at $423,100,000 after acquiring an additional 77,825 shares during the last quarter. State Street Corp grew its holdings in Madrigal Pharmaceuticals by 19.2% during the 3rd quarter. State Street Corp now owns 887,752 shares of the biopharmaceutical company’s stock worth $188,399,000 after acquiring an additional 143,038 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Madrigal Pharmaceuticals by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 405,655 shares of the biopharmaceutical company’s stock worth $86,104,000 after purchasing an additional 5,801 shares during the last quarter. Finally, Erste Asset Management GmbH acquired a new stake in shares of Madrigal Pharmaceuticals in the 3rd quarter valued at about $49,749,000. Institutional investors and hedge funds own 98.50% of the company’s stock.

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.