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

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) General Counsel Shannon T. Kelley sold 277 shares of Madrigal Pharmaceuticals stock in a transaction 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 transaction, the general counsel now owns 7,705 shares in the company, valued at approximately $2,106,624.05. This trade represents a 3.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Madrigal Pharmaceuticals Stock Up 7.6 %

MDGL opened at $293.64 on Friday. Madrigal Pharmaceuticals, Inc. has a 1-year low of $168.25 and a 1-year high of $368.29. The company has a quick ratio of 5.93, a current ratio of 5.98 and a debt-to-equity ratio of 0.15. The company has a fifty day moving average price of $314.19 and a two-hundred day moving average price of $272.69.

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. Analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.77 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on MDGL shares. Oppenheimer cut their price target on shares of Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. JMP Securities reiterated a “market outperform” rating and set a $427.00 price target on shares of Madrigal Pharmaceuticals in a report on Friday, January 10th. B. Riley lifted their price target on shares of Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, November 20th. Finally, UBS Group boosted their target price on shares of Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a “buy” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Madrigal Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $351.67.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Nisa Investment Advisors LLC increased its position in shares of Madrigal Pharmaceuticals by 47.6% during the third quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock worth $45,000 after acquiring an additional 68 shares in the last quarter. Quest Partners LLC increased its position in shares of Madrigal Pharmaceuticals by 5,225.0% during the second quarter. Quest Partners LLC now owns 213 shares of the biopharmaceutical company’s stock worth $60,000 after acquiring an additional 209 shares in the last quarter. Centaurus Financial Inc. bought a new stake in shares of Madrigal Pharmaceuticals during the second quarter worth about $163,000. Amalgamated Bank increased its position in shares of Madrigal Pharmaceuticals by 20.2% during the second quarter. Amalgamated Bank now owns 607 shares of the biopharmaceutical company’s stock worth $170,000 after acquiring an additional 102 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in shares of Madrigal Pharmaceuticals during the second quarter worth about $204,000. 98.50% of the stock is 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.