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 company’s stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $497.36, for a total transaction of $344,173.12. Following the transaction, the general counsel directly owned 8,481 shares in the company, valued at $4,218,110.16. The trade was a 7.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Madrigal Pharmaceuticals Trading Up 0.7%

MDGL stock traded up $3.27 during midday trading on Tuesday, hitting $504.95. The stock had a trading volume of 222,764 shares, compared to its average volume of 376,339. The company’s 50-day moving average price is $561.83 and its 200 day moving average price is $454.73. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.44 and a quick ratio of 3.26. The firm has a market cap of $11.47 billion, a PE ratio of -38.81, a price-to-earnings-growth ratio of 3.48 and a beta of -1.00. Madrigal Pharmaceuticals, Inc. has a 12-month low of $265.00 and a 12-month high of $615.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings results on Tuesday, November 4th. The biopharmaceutical company reported ($5.08) earnings per share for the quarter, missing analysts’ consensus estimates 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%. On average, equities research analysts predict that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on MDGL. Truist Financial lifted their price target on Madrigal Pharmaceuticals from $580.00 to $640.00 and gave the company a “buy” rating in a report on Wednesday, November 19th. Citizens Jmp boosted their target price on shares of Madrigal Pharmaceuticals from $527.00 to $745.00 and gave the company a “market outperform” rating in a report on Tuesday. Cantor Fitzgerald raised shares of Madrigal Pharmaceuticals from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 4th. HC Wainwright lifted their price target on shares of Madrigal Pharmaceuticals from $568.00 to $620.00 and gave the company a “buy” rating in a report on Friday, November 21st. Finally, Bank of America upgraded Madrigal Pharmaceuticals from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $266.00 to $445.00 in a report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $632.64.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

Several institutional investors have recently bought and sold shares of the business. Aventura Private Wealth LLC acquired a new stake in shares of Madrigal Pharmaceuticals in the fourth quarter worth $36,000. Mather Group LLC. purchased a new stake in Madrigal Pharmaceuticals during the 3rd quarter worth $33,000. Global Retirement Partners LLC increased its holdings in Madrigal Pharmaceuticals by 221.7% in the 3rd quarter. Global Retirement Partners LLC now owns 74 shares of the biopharmaceutical company’s stock valued at $34,000 after purchasing an additional 51 shares in the last quarter. First Horizon Corp acquired a new stake in Madrigal Pharmaceuticals in the 3rd quarter valued at $34,000. Finally, AlphaQuest LLC raised its position in Madrigal Pharmaceuticals by 412.5% in the second quarter. AlphaQuest LLC now owns 82 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 66 shares during the period. 98.50% of the stock is currently owned by hedge funds and other 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.