Insider Selling: Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Director Sells $1,504,700.00 in Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGLGet Free Report) Director Richard S. Levy sold 5,000 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $300.94, for a total value of $1,504,700.00. Following the transaction, the director now owns 11,012 shares in the company, valued at approximately $3,313,951.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Madrigal Pharmaceuticals Price Performance

Madrigal Pharmaceuticals stock opened at $354.85 on Friday. The firm has a market capitalization of $7.74 billion, a P/E ratio of -14.15 and a beta of -0.46. Madrigal Pharmaceuticals, Inc. has a one year low of $133.99 and a one year high of $368.29. 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 business has a fifty day moving average price of $234.44 and a 200-day moving average price of $245.87.

Madrigal Pharmaceuticals (NASDAQ:MDGLGet Free Report) last posted its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share for the quarter, beating analysts’ consensus estimates of ($6.94) by $2.02. The company had revenue of $62.18 million for the quarter, compared to analysts’ expectations of $34.60 million. During the same period in the previous year, the firm earned ($5.34) EPS. As a group, equities research analysts forecast that Madrigal Pharmaceuticals, Inc. will post -25.19 EPS for the current year.

Institutional Trading of Madrigal Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC bought a new position in shares of Madrigal Pharmaceuticals in the first quarter worth $102,000. SG Americas Securities LLC bought a new stake in shares of Madrigal Pharmaceuticals during the 1st quarter valued at about $360,000. Oppenheimer & Co. Inc. purchased a new position in shares of Madrigal Pharmaceuticals during the first quarter worth about $326,000. Swiss National Bank increased its position in shares of Madrigal Pharmaceuticals by 9.3% in the first quarter. Swiss National Bank now owns 23,400 shares of the biopharmaceutical company’s stock worth $6,249,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Madrigal Pharmaceuticals during the first quarter valued at approximately $584,000. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on MDGL. HC Wainwright reissued a “buy” rating and set a $390.00 price target on shares of Madrigal Pharmaceuticals in a research report on Tuesday, October 22nd. StockNews.com upgraded Madrigal Pharmaceuticals to a “sell” rating in a research note on Saturday, October 12th. B. Riley lifted their target price on Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the stock a “neutral” rating in a research note on Tuesday. 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. Finally, UBS Group lifted their price objective on shares of Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Two analysts have rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $347.33.

Check Out Our Latest Analysis on MDGL

About Madrigal Pharmaceuticals

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Madrigal Pharmaceuticals (NASDAQ:MDGL)

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