Insider Selling: 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 that occurred on Friday, January 24th. The shares were sold at an average price of $335.24, for a total value of $531,020.16. Following the transaction, the chief executive officer now owns 54,303 shares of the company’s stock, valued at $18,204,537.72. This represents a 2.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Madrigal Pharmaceuticals Stock Down 0.3 %

NASDAQ:MDGL opened at $326.33 on Thursday. The stock has a fifty day simple moving average of $314.96 and a 200-day simple moving average of $274.75. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15. The company has a market cap of $7.12 billion, a price-to-earnings ratio of -13.01 and a beta of -0.36. Madrigal Pharmaceuticals, Inc. has a twelve month low of $168.25 and a twelve month high of $368.29.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share (EPS) 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 analysts’ expectations of $34.60 million. During the same period last year, the firm earned ($5.34) earnings per share. Analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.55 EPS for the current year.

Institutional Trading of Madrigal Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the stock. Nisa Investment Advisors LLC increased its holdings in Madrigal Pharmaceuticals by 47.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock worth $45,000 after purchasing an additional 68 shares during the period. Quest Partners LLC lifted its stake in Madrigal Pharmaceuticals by 172.8% in the third quarter. Quest Partners LLC now owns 581 shares of the biopharmaceutical company’s stock worth $123,000 after acquiring an additional 368 shares during the period. Centaurus Financial Inc. bought a new position in Madrigal Pharmaceuticals during the 2nd quarter worth about $163,000. Amalgamated Bank increased its position in Madrigal Pharmaceuticals by 20.2% during the 2nd quarter. Amalgamated Bank now owns 607 shares of the biopharmaceutical company’s stock valued at $170,000 after purchasing an additional 102 shares during the period. Finally, KBC Group NV raised its holdings in shares of Madrigal Pharmaceuticals by 73.5% in the 4th quarter. KBC Group NV now owns 609 shares of the biopharmaceutical company’s stock valued at $188,000 after purchasing an additional 258 shares in the last quarter. Institutional investors own 98.50% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on MDGL shares. UBS Group increased their target price on Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a “buy” rating in a research report on Friday, November 1st. HC Wainwright lifted their price objective on shares of Madrigal Pharmaceuticals from $390.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. StockNews.com upgraded shares of Madrigal Pharmaceuticals to a “sell” rating in a report on Saturday, October 12th. B. Riley lifted their price target on Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Finally, JMP Securities reissued a “market outperform” rating and set a $427.00 price objective on shares of Madrigal Pharmaceuticals in a research note on Friday, January 10th. Two investment 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 data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $351.67.

About Madrigal Pharmaceuticals

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.