Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) General Counsel Sells $75,734.57 in Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) General Counsel Shannon T. Kelley sold 277 shares of the business’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $273.41, for a total value of $75,734.57. Following the completion of the transaction, the general counsel now owns 7,705 shares in the company, valued at $2,106,624.05. This trade represents a 3.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Madrigal Pharmaceuticals Stock Up 7.6 %

Madrigal Pharmaceuticals stock opened at $293.64 on Friday. Madrigal Pharmaceuticals, Inc. has a 52 week low of $168.25 and a 52 week high of $368.29. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15. The business’s 50-day simple moving average is $314.19 and its 200-day simple moving average is $272.68.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($6.94) by $2.02. The business had revenue of $62.18 million during the quarter, compared to analyst estimates of $34.60 million. During the same period last year, the business earned ($5.34) EPS. As a group, analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.77 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the stock. Commonwealth Equity Services LLC boosted its holdings in Madrigal Pharmaceuticals by 116.8% in the 2nd quarter. Commonwealth Equity Services LLC now owns 2,068 shares of the biopharmaceutical company’s stock valued at $579,000 after purchasing an additional 1,114 shares during the period. Victory Capital Management Inc. raised its position in shares of Madrigal Pharmaceuticals by 5.8% during the second quarter. Victory Capital Management Inc. now owns 2,252 shares of the biopharmaceutical company’s stock valued at $631,000 after buying an additional 124 shares during the last quarter. Quest Partners LLC lifted its stake in shares of 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 buying an additional 209 shares during the period. Oppenheimer Asset Management Inc. bought a new stake in shares of Madrigal Pharmaceuticals in the second quarter valued at about $414,000. Finally, Envestnet Asset Management Inc. grew its position in Madrigal Pharmaceuticals by 198.8% during the second quarter. Envestnet Asset Management Inc. now owns 14,454 shares of the biopharmaceutical company’s stock worth $4,049,000 after buying an additional 9,616 shares in the last quarter. Institutional investors own 98.50% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on MDGL shares. UBS Group boosted their price target on Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Oppenheimer decreased their target price on shares of Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. StockNews.com upgraded shares of Madrigal Pharmaceuticals to a “sell” rating in a report on Saturday, October 12th. JMP Securities reiterated a “market outperform” rating and issued a $427.00 price objective on shares of Madrigal Pharmaceuticals in a report on Friday, January 10th. Finally, HC Wainwright raised their target price on Madrigal Pharmaceuticals from $390.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Madrigal Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $351.67.

Madrigal Pharmaceuticals Company Profile

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.