Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) General Counsel Shannon T. Kelley Sells 277 Shares

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) General Counsel Shannon T. Kelley sold 277 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $273.41, for a total transaction of $75,734.57. Following the sale, the general counsel now directly owns 7,705 shares in the company, valued at $2,106,624.05. The trade was a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Madrigal Pharmaceuticals Trading Up 7.6 %

Shares of NASDAQ:MDGL traded up $20.85 during mid-day trading on Friday, hitting $293.64. The company had a trading volume of 864,385 shares, compared to its average volume of 489,589. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.98 and a quick ratio of 5.93. Madrigal Pharmaceuticals, Inc. has a one year low of $168.25 and a one year high of $368.29. The firm has a fifty day moving average price of $314.19 and a 200 day moving average price of $272.68. The company has a market capitalization of $6.40 billion, a PE ratio of -11.71 and a beta of -0.36.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share for the quarter, beating the consensus estimate of ($6.94) by $2.02. The company had revenue of $62.18 million during the quarter, compared to the consensus estimate of $34.60 million. During the same period last year, the firm posted ($5.34) earnings per share. As a group, research analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.77 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on MDGL shares. Oppenheimer reduced their price objective on shares of Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. UBS Group upped their price target on Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Cantor Fitzgerald restated a “neutral” rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, November 20th. HC Wainwright lifted their price objective on Madrigal Pharmaceuticals from $390.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, B. Riley increased their target price on shares of Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $351.67.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in MDGL. Oppenheimer Asset Management Inc. grew its stake in Madrigal Pharmaceuticals by 2.1% in the third quarter. Oppenheimer Asset Management Inc. now owns 1,507 shares of the biopharmaceutical company’s stock valued at $320,000 after acquiring an additional 31 shares during the period. 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 purchasing an additional 40 shares during the period. Nisa Investment Advisors LLC increased its stake in Madrigal Pharmaceuticals by 47.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock valued at $45,000 after purchasing an additional 68 shares in the last quarter. Creative Planning raised its holdings in Madrigal Pharmaceuticals by 2.7% during the third quarter. Creative Planning now owns 3,299 shares of the biopharmaceutical company’s stock worth $700,000 after buying an additional 87 shares during the last quarter. Finally, Verity Asset Management Inc. lifted its stake in shares of Madrigal Pharmaceuticals by 7.4% in the third quarter. Verity Asset Management Inc. now owns 1,466 shares of the biopharmaceutical company’s stock valued at $311,000 after buying an additional 101 shares in the last quarter. 98.50% of the stock is owned by institutional investors and hedge funds.

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.