William John Sibold Sells 5,221 Shares of Madrigal Pharmaceuticals (NASDAQ:MDGL) Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) CEO William Sibold sold 5,221 shares of the firm’s stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $542.39, for a total value of $2,831,818.19. Following the sale, the chief executive officer owned 197,746 shares in the company, valued at approximately $107,255,452.94. The trade was a 2.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Wednesday, September 9th, William Sibold sold 6,362 shares of Madrigal Pharmaceuticals stock. The stock was sold at an average price of $535.59, for a total value of $3,407,423.58.

Madrigal Pharmaceuticals Stock Up 0.3%

Shares of NASDAQ:MDGL opened at $534.49 on Friday. The company has a quick ratio of 2.94, a current ratio of 3.20 and a debt-to-equity ratio of 0.65. Madrigal Pharmaceuticals, Inc. has a 52-week low of $393.61 and a 52-week high of $615.00. The company has a 50 day moving average of $530.99 and a two-hundred day moving average of $507.63. The company has a market capitalization of $12.35 billion, a price-to-earnings ratio of -41.47 and a beta of -0.98.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported ($1.99) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.68) by $0.69. Madrigal Pharmaceuticals had a negative net margin of 25.32% and a negative return on equity of 56.65%. The company had revenue of $364.25 million for the quarter, compared to analyst estimates of $352.13 million. During the same quarter last year, the firm posted ($1.90) earnings per share. The business’s quarterly revenue was up 71.2% on a year-over-year basis. As a group, analysts forecast that Madrigal Pharmaceuticals, Inc. will post -7.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Wells Fargo & Company initiated coverage on shares of Madrigal Pharmaceuticals in a report on Monday, July 27th. They issued an “overweight” rating and a $685.00 price objective on the stock. UBS Group restated a “buy” rating on shares of Madrigal Pharmaceuticals in a research note on Friday, July 31st. Piper Sandler reaffirmed an “overweight” rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, June 24th. Canaccord Genuity Group boosted their price target on Madrigal Pharmaceuticals from $578.00 to $587.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Finally, Citigroup reiterated an “outperform” rating on shares of Madrigal Pharmaceuticals in a research note on Friday, July 17th. Fifteen investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Madrigal Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $699.64.

Institutional Trading of Madrigal Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in MDGL. Hsbc Holdings PLC acquired a new stake in Madrigal Pharmaceuticals in the second quarter valued at $309,000. Qube Research & Technologies Ltd acquired a new position in Madrigal Pharmaceuticals during the 2nd quarter worth $1,163,000. Sei Investments Co. increased its position in shares of Madrigal Pharmaceuticals by 73.6% in the 2nd quarter. Sei Investments Co. now owns 17,542 shares of the biopharmaceutical company’s stock worth $5,309,000 after purchasing an additional 7,438 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Madrigal Pharmaceuticals by 2.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,416 shares of the biopharmaceutical company’s stock worth $7,087,000 after purchasing an additional 471 shares during the last quarter. Finally, Bayesian Capital Management LP bought a new stake in shares of Madrigal Pharmaceuticals in the 2nd quarter worth about $418,000. Institutional investors own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Company Profile

Madrigal Pharmaceuticals, Inc (NASDAQ: MDGL) is a biopharmaceutical company focused on developing and commercializing therapies for cardiometabolic diseases, particularly nonalcoholic steatohepatitis, now commonly referred to as metabolic dysfunction-associated steatohepatitis (MASH).

The company’s lead product is Rezdiffra (resmetirom), an oral, thyroid hormone receptor beta agonist designed to target underlying liver disease. In 2024, the U.S. Food and Drug Administration approved Rezdiffra for use with diet and exercise to treat adults with noncirrhotic MASH and moderate to advanced liver fibrosis.