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 the company’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $273.41, for a total transaction of $75,734.57. Following the completion of the sale, the general counsel now directly owns 7,705 shares of the company’s stock, valued at $2,106,624.05. The trade was a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Madrigal Pharmaceuticals Stock Up 7.6 %

Shares of MDGL stock opened at $293.64 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.93 and a current ratio of 5.98. The firm’s 50 day moving average is $314.19 and its 200 day moving average is $272.69. Madrigal Pharmaceuticals, Inc. has a 12 month low of $168.25 and a 12 month high of $368.29.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) EPS for the quarter, beating analysts’ consensus estimates of ($6.94) by $2.02. The business had revenue of $62.18 million for the quarter, compared to analysts’ expectations of $34.60 million. During the same quarter in the previous year, the company posted ($5.34) earnings per share. As a group, research analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.77 earnings per share for the current fiscal year.

Institutional Trading of Madrigal Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of MDGL. Commonwealth Equity Services LLC lifted its stake in Madrigal Pharmaceuticals by 116.8% in the 2nd quarter. Commonwealth Equity Services LLC now owns 2,068 shares of the biopharmaceutical company’s stock worth $579,000 after purchasing an additional 1,114 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Madrigal Pharmaceuticals by 5.8% in the 2nd quarter. Victory Capital Management Inc. now owns 2,252 shares of the biopharmaceutical company’s stock worth $631,000 after purchasing an additional 124 shares in the last quarter. Quest Partners LLC lifted its stake in Madrigal Pharmaceuticals by 5,225.0% in the 2nd quarter. Quest Partners LLC now owns 213 shares of the biopharmaceutical company’s stock worth $60,000 after purchasing an additional 209 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in Madrigal Pharmaceuticals in the 2nd quarter worth approximately $414,000. Finally, Envestnet Asset Management Inc. lifted its stake in Madrigal Pharmaceuticals by 198.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 14,454 shares of the biopharmaceutical company’s stock worth $4,049,000 after purchasing an additional 9,616 shares in the last quarter. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MDGL has been the subject of a number of recent analyst reports. StockNews.com raised shares of Madrigal Pharmaceuticals to a “sell” rating in a research report on Saturday, October 12th. JMP Securities reaffirmed a “market outperform” rating and issued a $427.00 price objective on shares of Madrigal Pharmaceuticals in a research report on Friday, January 10th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, November 20th. Oppenheimer dropped their target price on shares of Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. 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 research note on Friday, November 1st. Two analysts have rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus 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.