William John Sibold Sells 6,363 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) CEO William John Sibold sold 6,363 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $243.83, for a total value of $1,551,490.29. Following the completion of the transaction, the chief executive officer now directly owns 55,887 shares of the company’s stock, valued at approximately $13,626,927.21. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Madrigal Pharmaceuticals Stock Up 0.8 %

Shares of Madrigal Pharmaceuticals stock opened at $234.76 on Friday. The stock’s 50-day moving average is $261.53 and its 200 day moving average is $250.39. Madrigal Pharmaceuticals, Inc. has a one year low of $119.76 and a one year high of $299.98. The firm has a market cap of $5.00 billion, a price-to-earnings ratio of -10.17 and a beta of -0.43. The company has a debt-to-equity ratio of 0.14, a current ratio of 8.72 and a quick ratio of 8.67.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($7.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($7.55) by $0.45. The business had revenue of $14.64 million for the quarter, compared to the consensus estimate of $4.25 million. Madrigal Pharmaceuticals’s quarterly revenue was up 146280.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($4.69) earnings per share. Equities research analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -27.67 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on MDGL shares. StockNews.com upgraded shares of Madrigal Pharmaceuticals to a “sell” rating in a report on Monday. Evercore ISI dropped 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 note on Thursday, August 8th. JMP Securities lifted their price target on shares of Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the stock a “market outperform” rating in a report on Tuesday, July 16th. Wolfe Research initiated coverage on Madrigal Pharmaceuticals in a report on Tuesday, June 11th. They issued an “outperform” rating and a $382.00 price objective for the company. Finally, Citigroup cut their target price on Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $343.83.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

Large investors have recently bought and sold shares of the stock. First Horizon Advisors Inc. raised its holdings in shares of Madrigal Pharmaceuticals by 1,633.3% during the second quarter. First Horizon Advisors Inc. now owns 104 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 98 shares during the period. EntryPoint Capital LLC bought a new stake in Madrigal Pharmaceuticals in the 1st quarter valued at about $41,000. Signaturefd LLC increased its position in Madrigal Pharmaceuticals by 36.8% in the 2nd quarter. Signaturefd LLC now owns 145 shares of the biopharmaceutical company’s stock valued at $41,000 after buying an additional 39 shares in the last quarter. UMB Bank n.a. acquired a new position in Madrigal Pharmaceuticals during the 1st quarter worth approximately $53,000. Finally, Quest Partners LLC grew its stake in Madrigal Pharmaceuticals by 5,225.0% in the second quarter. Quest Partners LLC now owns 213 shares of the biopharmaceutical company’s stock valued at $60,000 after acquiring an additional 209 shares during the period. 98.50% of the stock is currently owned by institutional investors and hedge funds.

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.