Madrigal Pharmaceuticals (NASDAQ:MDGL) General Counsel Sells 1,077 Shares of Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) General Counsel Shannon Kelley sold 1,077 shares of the stock in a transaction that occurred on Friday, November 6th. The stock was sold at an average price of $400.00, for a total transaction of $430,800.00. Following the completion of the sale, the general counsel owned 10,397 shares in the company, valued at $4,158,800. This represents a 9.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Madrigal Pharmaceuticals Price Performance

NASDAQ:MDGL traded down $0.47 during trading hours on Friday, hitting $399.63. The stock had a trading volume of 1,086,326 shares, compared to its average volume of 352,852. The company has a 50 day simple moving average of $489.63 and a two-hundred day simple moving average of $497.94. The firm has a market capitalization of $9.28 billion, a price-to-earnings ratio of -66.83 and a beta of -0.98. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.05 and a quick ratio of 2.94. Madrigal Pharmaceuticals, Inc. has a one year low of $353.54 and a one year high of $615.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings results on Tuesday, November 3rd. The biopharmaceutical company reported $1.83 earnings per share for the quarter, topping the consensus estimate of ($1.09) by $2.92. Madrigal Pharmaceuticals had a negative net margin of 10.89% and a negative return on equity of 27.08%. The firm had revenue of $431.27 million for the quarter, compared to analysts’ expectations of $404.17 million. During the same quarter in the prior year, the firm posted ($5.08) earnings per share. Research analysts forecast that Madrigal Pharmaceuticals, Inc. will post -6.88 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in MDGL. Concurrent Investment Advisors LLC raised its holdings in shares of Madrigal Pharmaceuticals by 2.0% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 1,034 shares of the biopharmaceutical company’s stock valued at $555,000 after buying an additional 20 shares in the last quarter. Fifth Third Bancorp lifted its position in Madrigal Pharmaceuticals by 3.5% in the 3rd quarter. Fifth Third Bancorp now owns 838 shares of the biopharmaceutical company’s stock worth $422,000 after buying an additional 28 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in Madrigal Pharmaceuticals by 2.7% in the third quarter. Commonwealth Equity Services LLC now owns 1,664 shares of the biopharmaceutical company’s stock worth $839,000 after buying an additional 43 shares in the last quarter. ProShare Advisors LLC boosted its stake in Madrigal Pharmaceuticals by 5.5% in the third quarter. ProShare Advisors LLC now owns 838 shares of the biopharmaceutical company’s stock worth $422,000 after buying an additional 44 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in Madrigal Pharmaceuticals by 35.4% during the second quarter. GAMMA Investing LLC now owns 172 shares of the biopharmaceutical company’s stock valued at $92,000 after acquiring an additional 45 shares during the last quarter. Institutional investors own 98.50% of the company’s stock.

Trending Headlines about Madrigal Pharmaceuticals

Here are the key news stories impacting Madrigal Pharmaceuticals this week:

• Positive Sentiment: New real-world studies presented at AASLD reported improvements in liver stiffness and cardiometabolic health markers among patients treated with Rezdiffra, supporting the drug’s potential in MASH. Madrigal announces new real-world Rezdiffra data
• Positive Sentiment: HC Wainwright reiterated a Strong Buy rating and forecast substantial earnings growth over the coming years. Canaccord Genuity also raised its price target to $633 and maintained a Buy rating. HC Wainwright estimates and rating
• Positive Sentiment: The company’s latest quarterly results beat analyst expectations for earnings and revenue, helping drive an earlier post-earnings rally. Madrigal shares rise after earnings beat
• Negative Sentiment: Several law firms have announced investigations into potential securities-law violations after Madrigal disclosed a whistleblower complaint in its November 3 quarterly report. The inquiries are preliminary allegations, not findings of wrongdoing, but add legal and reputational uncertainty and may be a near-term overhang for MDGL shares. Madrigal investigation alert

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on MDGL shares. Barclays dropped their price target on Madrigal Pharmaceuticals from $964.00 to $962.00 and set an “overweight” rating for the company in a research report on Monday, August 3rd. HC Wainwright initiated coverage on shares of Madrigal Pharmaceuticals in a research note on Wednesday. They issued a “strong-buy” rating on the stock. The Goldman Sachs Group assumed coverage on shares of Madrigal Pharmaceuticals in a research report on Thursday, September 24th. They set a “buy” rating and a $704.00 target price for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a research note on Thursday, October 15th. Finally, Wells Fargo & Company began coverage on shares of Madrigal Pharmaceuticals in a report on Monday, July 27th. They issued an “overweight” rating and a $685.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $706.87.

About Madrigal Pharmaceuticals

Madrigal Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing medicines for nonalcoholic steatohepatitis, now known as metabolic dysfunction-associated steatohepatitis (MASH), and other chronic liver diseases. The company is headquartered in West Conshohocken, Pennsylvania.

Madrigal’s lead product is Rezdiffra (resmetirom), an orally administered thyroid hormone receptor beta agonist designed to target key drivers of liver disease, including hepatic fat accumulation and fibrosis.