Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Insider Sells $116,328.28 in Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) insider Carole Huntsman sold 347 shares of the firm’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $335.24, for a total value of $116,328.28. Following the completion of the transaction, the insider now owns 10,438 shares of the company’s stock, valued at $3,499,235.12. The trade was a 3.22 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Madrigal Pharmaceuticals Stock Performance

MDGL opened at $326.33 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.98 and a quick ratio of 5.93. The company has a market capitalization of $7.12 billion, a PE ratio of -13.01 and a beta of -0.36. The business has a fifty day simple moving average of $314.96 and a 200 day simple moving average of $274.75. Madrigal Pharmaceuticals, Inc. has a 1 year low of $168.25 and a 1 year high of $368.29.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) EPS for the quarter, beating the consensus estimate of ($6.94) by $2.02. The business had revenue of $62.18 million during the quarter, compared to analyst estimates of $34.60 million. During the same quarter last year, the company posted ($5.34) earnings per share. Research analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.55 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. B. Riley raised their price target on Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. JMP Securities restated a “market outperform” rating and set a $427.00 target price on shares of Madrigal Pharmaceuticals in a report on Friday, January 10th. HC Wainwright increased their price target on shares of Madrigal Pharmaceuticals from $390.00 to $400.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, November 20th. Finally, StockNews.com upgraded shares of Madrigal Pharmaceuticals to a “sell” rating in a research note on Saturday, October 12th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $351.67.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Envestnet Asset Management Inc. grew its position in Madrigal Pharmaceuticals by 198.8% during the second quarter. Envestnet Asset Management Inc. now owns 14,454 shares of the biopharmaceutical company’s stock worth $4,049,000 after buying an additional 9,616 shares in the last quarter. Amalgamated Bank grew its holdings in shares of Madrigal Pharmaceuticals by 20.2% during the 2nd quarter. Amalgamated Bank now owns 607 shares of the biopharmaceutical company’s stock worth $170,000 after purchasing an additional 102 shares in the last quarter. Vanguard Personalized Indexing Management LLC bought a new position in shares of Madrigal Pharmaceuticals in the second quarter worth $204,000. Xponance Inc. raised its stake in Madrigal Pharmaceuticals by 25.1% in the second quarter. Xponance Inc. now owns 1,117 shares of the biopharmaceutical company’s stock valued at $313,000 after purchasing an additional 224 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in Madrigal Pharmaceuticals during the second quarter worth about $476,000. 98.50% of the stock is owned by institutional investors.

Madrigal Pharmaceuticals Company Profile

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.