James M. Daly Sells 15,470 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Director James M. Daly sold 15,470 shares of Madrigal Pharmaceuticals stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $347.45, for a total transaction of $5,375,051.50. Following the completion of the transaction, the director now owns 1,912 shares in the company, valued at approximately $664,324.40. This trade represents a 89.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Madrigal Pharmaceuticals Stock Performance

Shares of NASDAQ MDGL traded up $5.53 during mid-day trading on Friday, hitting $341.27. The company had a trading volume of 330,378 shares, compared to its average volume of 431,005. Madrigal Pharmaceuticals, Inc. has a 12 month low of $189.00 and a 12 month high of $377.46. The stock has a market cap of $7.44 billion, a price-to-earnings ratio of -13.61 and a beta of -0.38. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.98 and a quick ratio of 5.93. The firm’s 50 day simple moving average is $322.27 and its two-hundred day simple moving average is $284.05.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its earnings results on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($4.32) by $1.61. The company had revenue of $103.32 million during the quarter, compared to the consensus estimate of $97.81 million. As a group, equities research analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current year.

Analysts Set New Price Targets

MDGL has been the subject of several research analyst reports. Cantor Fitzgerald restated a “neutral” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, November 20th. Citigroup raised their target price on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a “buy” rating in a report on Thursday. B. Riley upgraded shares of Madrigal Pharmaceuticals from a “hold” rating to a “strong-buy” rating and lifted their price objective for the company from $236.00 to $422.00 in a research note on Thursday. JMP Securities reaffirmed a “market outperform” rating and set a $427.00 price target on shares of Madrigal Pharmaceuticals in a report on Friday, January 10th. Finally, HC Wainwright lifted their price objective on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a “buy” rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, ten have issued a buy rating and one has issued a strong buy 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 $375.75.

Institutional Trading of Madrigal Pharmaceuticals

Several hedge funds have recently bought and sold shares of MDGL. Creative Planning increased its stake in shares of Madrigal Pharmaceuticals by 2.7% in the third quarter. Creative Planning now owns 3,299 shares of the biopharmaceutical company’s stock valued at $700,000 after purchasing an additional 87 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of Madrigal Pharmaceuticals by 47.6% in the third quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock worth $45,000 after purchasing an additional 68 shares in the last quarter. Verity Asset Management Inc. increased its holdings in shares of Madrigal Pharmaceuticals by 7.4% during the third quarter. Verity Asset Management Inc. now owns 1,466 shares of the biopharmaceutical company’s stock valued at $311,000 after purchasing an additional 101 shares during the period. Assetmark Inc. lifted its holdings in Madrigal Pharmaceuticals by 8.3% in the third quarter. Assetmark Inc. now owns 3,942 shares of the biopharmaceutical company’s stock worth $837,000 after purchasing an additional 303 shares during the period. Finally, Victory Capital Management Inc. grew its position in Madrigal Pharmaceuticals by 1.8% in the 3rd quarter. Victory Capital Management Inc. now owns 2,292 shares of the biopharmaceutical company’s stock valued at $486,000 after buying an additional 40 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors.

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.