Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL – Get Free Report) 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 value of $516,561.08. Following the transaction, the insider directly owned 10,033 shares in the company, valued at approximately $4,973,759.42. This represents a 9.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 value of $435,419.60.
Madrigal Pharmaceuticals Price Performance
Shares of MDGL stock opened at $452.86 on Wednesday. The stock has a 50 day moving average price of $514.40 and a 200 day moving average price of $515.10. Madrigal Pharmaceuticals, Inc. has a 52-week low of $268.69 and a 52-week high of $615.00. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.16 and a current ratio of 3.50. The firm has a market capitalization of $10.44 billion, a P/E ratio of -35.38 and a beta of -1.07.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on MDGL. Weiss Ratings reiterated a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a report on Tuesday, April 21st. Evercore set a $649.00 price objective on shares of Madrigal Pharmaceuticals in a research report on Thursday, May 7th. HC Wainwright reissued a “buy” rating and issued a $620.00 price objective on shares of Madrigal Pharmaceuticals in a research report on Wednesday, May 6th. Truist Financial boosted their price objective on shares of Madrigal Pharmaceuticals from $640.00 to $709.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Finally, Zacks Research raised shares of Madrigal Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Madrigal Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $687.00.
Check Out Our Latest Stock Report on MDGL
Hedge Funds Weigh In On Madrigal Pharmaceuticals
Several institutional investors have recently made changes to their positions in MDGL. Hsbc Holdings PLC purchased a new position in shares of Madrigal Pharmaceuticals during the second quarter valued at $309,000. Qube Research & Technologies Ltd purchased a new position in shares of Madrigal Pharmaceuticals during the second quarter valued at $1,163,000. Sei Investments Co. increased its stake in shares of Madrigal Pharmaceuticals by 73.6% during the second quarter. Sei Investments Co. now owns 17,542 shares of the biopharmaceutical company’s stock valued at $5,309,000 after buying an additional 7,438 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Madrigal Pharmaceuticals by 2.1% during the second quarter. The Manufacturers Life Insurance Company now owns 23,416 shares of the biopharmaceutical company’s stock valued at $7,087,000 after buying an additional 471 shares during the period. Finally, Bayesian Capital Management LP purchased a new position in shares of Madrigal Pharmaceuticals during the second quarter valued at $418,000. Hedge funds and other institutional investors own 98.50% of the company’s stock.
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.
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