Richard Levy Sells 5,682 Shares of Madrigal Pharmaceuticals (NASDAQ:MDGL) Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Director Richard Levy sold 5,682 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $515.44, for a total transaction of $2,928,730.08. Following the completion of the transaction, the director directly owned 22,015 shares in the company, valued at approximately $11,347,411.60. This represents a 20.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Madrigal Pharmaceuticals Price Performance

MDGL stock traded up $3.67 during mid-day trading on Friday, hitting $517.26. The stock had a trading volume of 160,811 shares, compared to its average volume of 344,030. The firm has a fifty day simple moving average of $504.69 and a 200 day simple moving average of $513.46. Madrigal Pharmaceuticals, Inc. has a 52 week low of $265.00 and a 52 week high of $615.00. The company has a current ratio of 3.50, a quick ratio of 3.16 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $11.93 billion, a P/E ratio of -40.41 and a beta of -1.04.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($3.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($3.61) by $0.36. Madrigal Pharmaceuticals had a negative net margin of 27.32% and a negative return on equity of 50.15%. The company had revenue of $311.34 million for the quarter, compared to the consensus estimate of $301.05 million. During the same period last year, the company posted ($3.32) EPS. The firm’s quarterly revenue was up 126.8% compared to the same quarter last year. As a group, research analysts forecast that Madrigal Pharmaceuticals, Inc. will post -6.49 EPS for the current year.

Analyst Ratings Changes

Several research firms recently commented on MDGL. Barclays began coverage on shares of Madrigal Pharmaceuticals in a research report on Tuesday, January 27th. They set an “overweight” rating and a $964.00 target price on the stock. HC Wainwright reiterated a “buy” rating and set a $620.00 target price on shares of Madrigal Pharmaceuticals in a research report on Wednesday, May 6th. Truist Financial lifted their target price on shares of Madrigal Pharmaceuticals from $640.00 to $709.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a research report on Tuesday, April 21st. Finally, Zacks Research upgraded 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, twelve have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $687.00.

Institutional Trading of Madrigal Pharmaceuticals

Several hedge funds have recently modified their holdings of MDGL. Flagship Harbor Advisors LLC bought a new stake in shares of Madrigal Pharmaceuticals in the 4th quarter valued at $29,000. Aventura Private Wealth LLC bought a new stake in shares of Madrigal Pharmaceuticals in the 4th quarter valued at $36,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Madrigal Pharmaceuticals in the 3rd quarter valued at $39,000. Kemnay Advisory Services Inc. bought a new stake in shares of Madrigal Pharmaceuticals in the 4th quarter valued at $39,000. Finally, Quarry LP bought a new stake in shares of Madrigal Pharmaceuticals in the 3rd quarter valued at $39,000. 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-? agonist in Phase 3 development for the treatment of NASH.