Madrigal Pharmaceuticals (NASDAQ:MDGL) Insider David Soergel Sells 1,042 Shares of Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) insider David Soergel sold 1,042 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $495.74, for a total transaction of $516,561.08. Following the sale, the insider directly owned 10,033 shares of the company’s stock, valued at approximately $4,973,759.42. This represents a 9.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

David Soergel also recently made the following trade(s):

• On Monday, May 18th, David Soergel sold 844 shares of Madrigal Pharmaceuticals stock. The stock was sold at an average price of $515.90, for a total transaction of $435,419.60.

Madrigal Pharmaceuticals Stock Down 3.2%

MDGL opened at $481.23 on Tuesday. The company has a current ratio of 3.50, a quick ratio of 3.16 and a debt-to-equity ratio of 0.63. Madrigal Pharmaceuticals, Inc. has a 1-year low of $268.69 and a 1-year high of $615.00. The company has a market capitalization of $11.10 billion, a PE ratio of -37.60 and a beta of -1.04. The firm’s 50 day simple moving average is $514.40 and its two-hundred day simple moving average is $515.10.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($3.25) EPS for the quarter, topping analysts’ consensus estimates of ($3.61) by $0.36. Madrigal Pharmaceuticals had a negative return on equity of 50.15% and a negative net margin of 27.32%.The company had revenue of $311.34 million for the quarter, compared to analysts’ expectations of $301.05 million. During the same period last year, the firm earned ($3.32) EPS. Madrigal Pharmaceuticals’s revenue for the quarter was up 126.8% compared to the same quarter last year. As a group, equities analysts forecast that Madrigal Pharmaceuticals, Inc. will post -7.23 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on MDGL. Bank of America decreased their target price on Madrigal Pharmaceuticals from $570.00 to $529.00 and set a “neutral” rating on the stock in a report on Friday, February 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a report on Tuesday, April 21st. Zacks Research raised Madrigal Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Friday, February 20th. Citigroup reaffirmed a “market outperform” rating on shares of Madrigal Pharmaceuticals in a report on Monday. Finally, Wells Fargo & Company raised Madrigal Pharmaceuticals to an “overweight” rating in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $687.00.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

Several large investors have recently made changes to their positions in MDGL. Glenmede Trust Co. NA grew its position in Madrigal Pharmaceuticals by 11.7% in the first quarter. Glenmede Trust Co. NA now owns 772 shares of the biopharmaceutical company’s stock worth $404,000 after acquiring an additional 81 shares in the last quarter. Groupama Asset Managment grew its position in Madrigal Pharmaceuticals by 15.1% in the first quarter. Groupama Asset Managment now owns 35,238 shares of the biopharmaceutical company’s stock worth $18,446,000 after acquiring an additional 4,618 shares in the last quarter. Janus Henderson Group PLC grew its position in Madrigal Pharmaceuticals by 27.4% in the first quarter. Janus Henderson Group PLC now owns 2,018,647 shares of the biopharmaceutical company’s stock worth $1,051,727,000 after acquiring an additional 433,804 shares in the last quarter. Tri Locum Partners LP grew its position in Madrigal Pharmaceuticals by 20.1% in the first quarter. Tri Locum Partners LP now owns 103,288 shares of the biopharmaceutical company’s stock worth $54,068,000 after acquiring an additional 17,265 shares in the last quarter. Finally, Amundi grew its position in Madrigal Pharmaceuticals by 180.1% in the first quarter. Amundi now owns 1,224 shares of the biopharmaceutical company’s stock worth $641,000 after acquiring an additional 787 shares in the last quarter. 98.50% of the stock is owned by institutional investors.

About Madrigal Pharmaceuticals

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.