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

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) General Counsel Shannon Kelley sold 664 shares of the company’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $514.97, for a total transaction of $341,940.08. Following the completion of the transaction, the general counsel owned 11,474 shares of the company’s stock, valued at $5,908,765.78. This represents a 5.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Madrigal Pharmaceuticals Stock Performance

Shares of MDGL stock opened at $516.74 on Friday. The stock’s 50-day moving average is $524.40 and its two-hundred day moving average is $501.02. The company has a debt-to-equity ratio of 0.65, a quick ratio of 2.94 and a current ratio of 3.20. Madrigal Pharmaceuticals, Inc. has a 1 year low of $393.61 and a 1 year high of $615.00. The firm has a market cap of $11.94 billion, a price-to-earnings ratio of -40.09 and a beta of -1.01.

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

Hedge Funds Weigh In On Madrigal Pharmaceuticals

A number of large investors have recently modified their holdings of the business. Persistent Asset Partners Ltd acquired a new stake in shares of Madrigal Pharmaceuticals during the 2nd quarter valued at approximately $29,000. Global Retirement Partners LLC acquired a new stake in shares of Madrigal Pharmaceuticals in the 2nd quarter worth approximately $34,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Madrigal Pharmaceuticals in the 4th quarter worth approximately $39,000. Quarry LP purchased a new position in Madrigal Pharmaceuticals in the 3rd quarter valued at approximately $39,000. Finally, Accent Capital Management LLC increased its stake in Madrigal Pharmaceuticals by 64.9% in the 4th quarter. Accent Capital Management LLC now owns 94 shares of the biopharmaceutical company’s stock valued at $55,000 after purchasing an additional 37 shares in the last quarter. 98.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on MDGL. HC Wainwright reissued a “buy” rating on shares of Madrigal Pharmaceuticals in a report on Friday, July 31st. Bank of America lowered their target price on shares of Madrigal Pharmaceuticals from $550.00 to $542.00 and set a “neutral” rating on the stock in a research report on Thursday, June 11th. Truist Financial lifted their target price on shares of Madrigal Pharmaceuticals from $640.00 to $709.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Wolfe Research upgraded shares of Madrigal Pharmaceuticals from a “peer perform” rating to an “outperform” rating and set a $605.00 price target for the company in a research report on Tuesday, August 4th. Finally, Barclays decreased their price target on shares of Madrigal Pharmaceuticals from $964.00 to $962.00 and set an “overweight” rating for the company in a research note on Monday, August 3rd. Fifteen investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.