Madrigal Pharmaceuticals (NASDAQ:MDGL) General Counsel Shannon Kelley Sells 664 Shares of Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) General Counsel Shannon Kelley sold 664 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $514.97, for a total value of $341,940.08. Following the completion of the transaction, the general counsel directly owned 11,474 shares in the company, valued at approximately $5,908,765.78. This represents a 5.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Madrigal Pharmaceuticals Stock Down 3.9%

Shares of NASDAQ MDGL opened at $519.09 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 2.94 and a current ratio of 3.20. The company has a market capitalization of $11.99 billion, a P/E ratio of -40.27 and a beta of -1.01. The company’s 50 day moving average price is $523.68 and its 200-day moving average price is $500.91. Madrigal Pharmaceuticals, Inc. has a 52-week low of $392.96 and a 52-week high of $615.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported ($1.99) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.68) by $0.69. Madrigal Pharmaceuticals had a negative return on equity of 56.65% and a negative net margin of 25.32%.The firm had revenue of $364.25 million during the quarter, compared to the consensus estimate of $352.13 million. During the same period last year, the business posted ($1.90) EPS. The business’s revenue was up 71.2% compared to the same quarter last year. Equities analysts forecast that Madrigal Pharmaceuticals, Inc. will post -7.03 earnings per share for the current year.

Institutional Trading of Madrigal Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Persistent Asset Partners Ltd bought a new position in shares of Madrigal Pharmaceuticals during the second quarter valued at approximately $29,000. Global Retirement Partners LLC bought a new position in Madrigal Pharmaceuticals in the second quarter worth about $34,000. Kemnay Advisory Services Inc. purchased a new stake in Madrigal Pharmaceuticals in the fourth quarter worth about $39,000. Quarry LP purchased a new stake in Madrigal Pharmaceuticals in the third quarter worth about $39,000. Finally, Johnson Financial Group Inc. bought a new stake in Madrigal Pharmaceuticals during the 3rd quarter valued at approximately $50,000. Institutional investors own 98.50% of the company’s stock.

Analyst Ratings Changes

MDGL has been the topic of several recent research reports. Barclays dropped their price objective on shares of Madrigal Pharmaceuticals from $964.00 to $962.00 and set an “overweight” rating on the stock in a report on Monday, August 3rd. Wolfe Research upgraded shares of Madrigal Pharmaceuticals from a “peer perform” rating to an “outperform” rating and set a $605.00 price target on the stock in a research note on Tuesday, August 4th. Citigroup reiterated an “outperform” rating on shares of Madrigal Pharmaceuticals in a research note on Friday, July 17th. Piper Sandler reissued an “overweight” rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, June 24th. Finally, Bank of America cut their price target on Madrigal Pharmaceuticals from $550.00 to $542.00 and set a “neutral” rating for the company in a report on Thursday, June 11th. Fifteen analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Madrigal Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $689.93.

Madrigal Pharmaceuticals Company Profile

Madrigal Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the development of innovative therapies for cardiovascular, metabolic and liver diseases. The company’s pipeline centers on novel, liver-directed agents designed to address significant unmet medical needs, with an emphasis on nonalcoholic steatohepatitis (NASH) and related metabolic disorders.

The lead product candidate, resmetirom (MGL-3196), is an orally administered, selective thyroid hormone receptor-β agonist in Phase 3 development for the treatment of NASH.