Shannon Kelley Sells 692 Shares of Madrigal Pharmaceuticals (NASDAQ:MDGL) Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) General Counsel Shannon Kelley sold 692 shares of the stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $497.36, for a total transaction of $344,173.12. Following the sale, the general counsel directly owned 8,481 shares in the company, valued at approximately $4,218,110.16. The trade was a 7.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Madrigal Pharmaceuticals Price Performance

Shares of Madrigal Pharmaceuticals stock opened at $496.97 on Thursday. The firm has a market cap of $11.29 billion, a PE ratio of -38.20, a P/E/G ratio of 4.90 and a beta of -1.00. Madrigal Pharmaceuticals, Inc. has a twelve month low of $265.00 and a twelve month high of $615.00. The company has a quick ratio of 3.26, a current ratio of 3.44 and a debt-to-equity ratio of 0.54. The business has a 50-day moving average price of $560.46 and a 200 day moving average price of $456.47.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings data on Tuesday, November 4th. The biopharmaceutical company reported ($5.08) EPS for the quarter, missing the consensus estimate of ($2.01) by ($3.07). Madrigal Pharmaceuticals had a negative net margin of 39.04% and a negative return on equity of 41.50%. Sell-side analysts predict that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MDGL has been the subject of a number of research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, October 8th. Citigroup reiterated an “outperform” rating on shares of Madrigal Pharmaceuticals in a research note on Tuesday. Canaccord Genuity Group raised their target price on Madrigal Pharmaceuticals from $526.00 to $587.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. Wolfe Research set a $579.00 price target on Madrigal Pharmaceuticals in a research note on Tuesday, January 6th. Finally, TD Cowen reissued a “buy” rating on shares of Madrigal Pharmaceuticals in a research note on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $632.64.

Institutional Trading of Madrigal Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the stock. Flagship Harbor Advisors LLC acquired a new position in shares of Madrigal Pharmaceuticals during the 4th quarter valued at about $29,000. Capricorn Fund Managers Ltd purchased a new position in Madrigal Pharmaceuticals during the fourth quarter worth about $3,843,000. Toth Financial Advisory Corp acquired a new position in Madrigal Pharmaceuticals in the 4th quarter valued at about $1,165,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Madrigal Pharmaceuticals in the 4th quarter valued at approximately $375,000. Finally, Eastern Bank grew its stake in shares of Madrigal Pharmaceuticals by 32.3% in the 4th quarter. Eastern Bank now owns 86 shares of the biopharmaceutical company’s stock valued at $50,000 after buying an additional 21 shares during the period. 98.50% of the stock is owned by institutional investors and hedge funds.

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.