Insider Selling: Madrigal Pharmaceuticals (NASDAQ:MDGL) Insider Sells $516,561.08 in Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) insider David Soergel sold 1,042 shares of the business’s stock in a transaction 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 completion of the sale, the insider owned 10,033 shares of the company’s stock, valued at $4,973,759.42. This trade represents a 9.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 shares were sold at an average price of $515.90, for a total value of $435,419.60.

Madrigal Pharmaceuticals Stock Performance

MDGL opened at $488.15 on Thursday. The business has a fifty day simple moving average of $515.44 and a 200 day simple moving average of $514.38. The company has a market capitalization of $11.26 billion, a PE ratio of -38.14 and a beta of -1.07. Madrigal Pharmaceuticals, Inc. has a 1 year low of $271.95 and a 1 year high of $615.00. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.50 and a quick ratio of 3.16.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported ($3.25) earnings per share for the quarter, beating the consensus estimate of ($3.61) by $0.36. The firm had revenue of $311.34 million during the quarter, compared to analysts’ expectations of $301.05 million. Madrigal Pharmaceuticals had a negative return on equity of 50.15% and a negative net margin of 27.32%.The company’s quarterly revenue was up 126.8% compared to the same quarter last year. During the same period in the previous year, the firm earned ($3.32) EPS. Research analysts expect that Madrigal Pharmaceuticals, Inc. will post -7.23 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on MDGL shares. Canaccord Genuity Group dropped their price objective on Madrigal Pharmaceuticals from $587.00 to $578.00 and set a “buy” rating for the company in a report on Thursday, May 7th. HC Wainwright reaffirmed a “buy” rating and issued a $620.00 price objective on shares of Madrigal Pharmaceuticals in a report on Wednesday, May 6th. Zacks Research raised Madrigal Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Friday, February 20th. Truist Financial lifted their price objective on Madrigal Pharmaceuticals from $640.00 to $709.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Finally, Wells Fargo & Company raised Madrigal Pharmaceuticals to an “overweight” rating in a report on Monday. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Madrigal Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $687.00.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

Institutional investors have recently modified their holdings of the business. Eastern Bank boosted its position in shares of Madrigal Pharmaceuticals by 32.3% during the 4th quarter. Eastern Bank now owns 86 shares of the biopharmaceutical company’s stock valued at $50,000 after purchasing an additional 21 shares in the last quarter. Centaurus Financial Inc. boosted its position in shares of Madrigal Pharmaceuticals by 5.0% during the 3rd quarter. Centaurus Financial Inc. now owns 709 shares of the biopharmaceutical company’s stock valued at $325,000 after purchasing an additional 34 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of Madrigal Pharmaceuticals by 34.6% during the 4th quarter. Farther Finance Advisors LLC now owns 140 shares of the biopharmaceutical company’s stock valued at $82,000 after purchasing an additional 36 shares in the last quarter. Accent Capital Management LLC grew its position in shares of Madrigal Pharmaceuticals by 64.9% during the 4th quarter. Accent Capital Management LLC now owns 94 shares of the biopharmaceutical company’s stock worth $55,000 after buying an additional 37 shares during the period. Finally, Swiss Life Asset Management Ltd grew its position in shares of Madrigal Pharmaceuticals by 6.8% during the 4th quarter. Swiss Life Asset Management Ltd now owns 690 shares of the biopharmaceutical company’s stock worth $402,000 after buying an additional 44 shares during the period. Institutional investors and hedge funds own 98.50% of the company’s stock.

About Madrigal Pharmaceuticals

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.