Insider Selling: Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Director Sells 5,000 Shares of Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Director Richard S. Levy sold 5,000 shares of Madrigal Pharmaceuticals stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $300.94, for a total value of $1,504,700.00. Following the completion of the transaction, the director now directly owns 11,012 shares of the company’s stock, valued at approximately $3,313,951.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Madrigal Pharmaceuticals Price Performance

MDGL stock traded up $6.29 during midday trading on Tuesday, hitting $337.61. The company’s stock had a trading volume of 773,171 shares, compared to its average volume of 441,069. Madrigal Pharmaceuticals, Inc. has a 12 month low of $133.99 and a 12 month high of $337.63. 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 firm has a market capitalization of $7.36 billion, a price-to-earnings ratio of -13.46 and a beta of -0.46. The company has a 50 day moving average of $230.57 and a two-hundred day moving average of $244.46.

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, topping the consensus estimate of ($6.94) by $2.02. The business had revenue of $62.18 million during the quarter, compared to the consensus estimate of $34.60 million. During the same quarter in the previous year, the company earned ($5.34) earnings per share. On average, analysts expect that Madrigal Pharmaceuticals, Inc. will post -27.27 EPS for the current year.

Wall Street Analysts Forecast Growth

MDGL has been the subject of a number of recent analyst reports. StockNews.com raised Madrigal Pharmaceuticals to a “sell” rating in a research report on Saturday, October 12th. Citigroup reduced their price target on shares of Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Evercore ISI reduced their price target on shares of Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. UBS Group upped their price target on shares of Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a “buy” rating in a research report on Friday. Finally, B. Riley upped their price target on shares of Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the company a “neutral” rating in a research report on Tuesday. 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 data from MarketBeat, Madrigal Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $347.33.

Institutional Trading of Madrigal Pharmaceuticals

Several hedge funds have recently modified their holdings of MDGL. First Horizon Advisors Inc. raised its holdings in shares of Madrigal Pharmaceuticals by 1,633.3% during the 2nd quarter. First Horizon Advisors Inc. now owns 104 shares of the biopharmaceutical company’s stock worth $29,000 after acquiring an additional 98 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in shares of Madrigal Pharmaceuticals during the 1st quarter worth approximately $41,000. Signaturefd LLC raised its holdings in shares of Madrigal Pharmaceuticals by 36.8% during the 2nd quarter. Signaturefd LLC now owns 145 shares of the biopharmaceutical company’s stock worth $41,000 after acquiring an additional 39 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of 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 acquiring an additional 68 shares in the last quarter. Finally, Quest Partners LLC raised its holdings in shares of Madrigal Pharmaceuticals by 5,225.0% during the 2nd 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. 98.50% of the stock is owned by hedge funds and other institutional investors.

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.