Insider Selling: Madrigal Pharmaceuticals (NASDAQ:MDGL) CEO Sells 1,577 Shares of Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) CEO William John Sibold sold 1,577 shares of the stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $492.42, for a total value of $776,546.34. Following the sale, the chief executive officer directly owned 148,497 shares in the company, valued at $73,122,892.74. This trade represents a 1.05% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

William John Sibold also recently made the following trade(s):

• On Thursday, December 4th, William John Sibold sold 2,400 shares of Madrigal Pharmaceuticals stock. The shares were sold at an average price of $575.34, for a total value of $1,380,816.00.

Madrigal Pharmaceuticals Price Performance

Shares of Madrigal Pharmaceuticals stock traded up $18.72 on Monday, reaching $499.17. The stock had a trading volume of 336,495 shares, compared to its average volume of 364,506. The business’s 50 day moving average is $559.15 and its two-hundred day moving average is $460.34. The company has a current ratio of 3.44, a quick ratio of 3.26 and a debt-to-equity ratio of 0.54. Madrigal Pharmaceuticals, Inc. has a 1 year low of $265.00 and a 1 year high of $615.00. The company has a market cap of $11.34 billion, a P/E ratio of -38.37, a price-to-earnings-growth ratio of 4.66 and a beta of -1.00.

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

Institutional Investors Weigh In On Madrigal Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its position in Madrigal Pharmaceuticals by 5,381.2% in the third quarter. Wellington Management Group LLP now owns 404,455 shares of the biopharmaceutical company’s stock valued at $185,507,000 after purchasing an additional 397,076 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its holdings in shares of Madrigal Pharmaceuticals by 96.3% in the second quarter. Adage Capital Partners GP L.L.C. now owns 376,163 shares of the biopharmaceutical company’s stock worth $113,842,000 after purchasing an additional 184,554 shares during the last quarter. Norges Bank bought a new position in shares of Madrigal Pharmaceuticals in the second quarter worth approximately $53,406,000. Baker BROS. Advisors LP increased its stake in shares of 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 buying an additional 165,683 shares during the period. Finally, Alkeon Capital Management LLC bought a new stake in Madrigal Pharmaceuticals during the 3rd quarter valued at $55,039,000. Institutional investors own 98.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. TD Cowen reiterated a “buy” rating on shares of Madrigal Pharmaceuticals in a research report on Monday, January 12th. B. Riley upped their target price on Madrigal Pharmaceuticals from $560.00 to $670.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a report on Thursday. Truist Financial lifted their price target on Madrigal Pharmaceuticals from $580.00 to $640.00 and gave the company a “buy” rating in a research report on Wednesday, November 19th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $571.00 price objective on shares of Madrigal Pharmaceuticals in a report on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Madrigal Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $632.64.

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-? agonist in Phase 3 development for the treatment of NASH.