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

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) General Counsel Shannon Kelley sold 692 shares of Madrigal Pharmaceuticals stock in a transaction on 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 of the company’s stock, valued at $4,218,110.16. This represents a 7.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Madrigal Pharmaceuticals Stock Up 0.7%

MDGL opened at $504.95 on Wednesday. The business’s fifty day simple moving average is $561.10 and its 200 day simple moving average is $456.18. Madrigal Pharmaceuticals, Inc. has a 52 week low of $265.00 and a 52 week 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 stock has a market cap of $11.47 billion, a PE ratio of -38.81, a P/E/G ratio of 4.87 and a beta of -1.00.

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

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Cantor Fitzgerald upgraded shares of Madrigal Pharmaceuticals from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 4th. Zacks Research cut shares of Madrigal Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research report on Monday, January 12th. Wolfe Research set a $579.00 price target on shares of Madrigal Pharmaceuticals in a research note on Tuesday, January 6th. The Goldman Sachs Group restated a “buy” rating and set a $571.00 price target on shares of Madrigal Pharmaceuticals in a research report on Wednesday, January 14th. Finally, B. Riley lifted their price objective on Madrigal Pharmaceuticals from $560.00 to $670.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $632.64.

Institutional Trading of Madrigal Pharmaceuticals

Several large investors have recently modified their holdings of MDGL. Wellington Management Group LLP boosted its position in Madrigal Pharmaceuticals by 5,381.2% during the 3rd quarter. Wellington Management Group LLP now owns 404,455 shares of the biopharmaceutical company’s stock valued at $185,507,000 after acquiring an additional 397,076 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its position in shares of Madrigal Pharmaceuticals by 96.3% during the second quarter. Adage Capital Partners GP L.L.C. now owns 376,163 shares of the biopharmaceutical company’s stock valued at $113,842,000 after purchasing an additional 184,554 shares in the last quarter. Norges Bank purchased a new stake in Madrigal Pharmaceuticals in the second quarter worth $53,406,000. Baker BROS. Advisors LP grew its stake in Madrigal Pharmaceuticals by 8.4% in the third quarter. Baker BROS. Advisors LP now owns 2,141,701 shares of the biopharmaceutical company’s stock worth $982,313,000 after purchasing an additional 165,683 shares during the period. Finally, Alkeon Capital Management LLC bought a new position in Madrigal Pharmaceuticals in the third quarter worth $55,039,000. 98.50% of the stock is owned by institutional investors.

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.