Madrigal Pharmaceuticals (NASDAQ:MDGL) CFO Mardi Dier Sells 4,173 Shares

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) CFO Mardi Dier sold 4,173 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $578.34, for a total transaction of $2,413,412.82. Following the sale, the chief financial officer directly owned 10,440 shares in the company, valued at $6,037,869.60. This trade represents a 28.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Madrigal Pharmaceuticals Stock Up 1.2%

Shares of MDGL opened at $579.89 on Thursday. The firm has a market capitalization of $13.17 billion, a price-to-earnings ratio of -44.57 and a beta of -1.04. Madrigal Pharmaceuticals, Inc. has a 52 week low of $265.00 and a 52 week high of $605.00. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.26 and a current ratio of 3.44. The business’s fifty day moving average price is $481.97 and its two-hundred day moving average price is $389.67.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. AlphaQuest LLC lifted its holdings in Madrigal Pharmaceuticals by 412.5% during the 2nd 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 last quarter. Summit Securities Group LLC bought a new stake in shares of Madrigal Pharmaceuticals during the 1st quarter worth about $33,000. Mather Group LLC. acquired a new position in Madrigal Pharmaceuticals in the 3rd quarter valued at about $33,000. Global Retirement Partners LLC raised 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 acquiring an additional 51 shares during the period. Finally, First Horizon Corp acquired a new stake in Madrigal Pharmaceuticals during the third quarter worth approximately $34,000. 98.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MDGL. HC Wainwright increased their price target on Madrigal Pharmaceuticals from $568.00 to $620.00 and gave the company a “buy” rating in a research note on Friday, November 21st. Bank of America raised Madrigal Pharmaceuticals from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $266.00 to $445.00 in a research note on Monday, November 3rd. Truist Financial lifted their target price on Madrigal Pharmaceuticals from $580.00 to $640.00 and gave the company a “buy” rating in a research report on Wednesday, November 19th. B. Riley upped their price target on Madrigal Pharmaceuticals from $460.00 to $560.00 and gave the stock a “buy” rating in a research report on Monday, September 29th. Finally, Cowen restated a “buy” rating on shares of Madrigal Pharmaceuticals in a research note on Tuesday, August 26th. Thirteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $553.50.

Madrigal Pharmaceuticals Company Profile

Madrigal Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development of therapeutics for the treatment of non-alcoholic steatohepatitis (NASH) in the United States. Its lead product candidate is resmetirom, a liver-directed thyroid hormone receptor beta agonist, which is in Phase 3 clinical trials for treating NASH.