Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) General Counsel Shannon T. Kelley Sells 277 Shares

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) General Counsel Shannon T. Kelley sold 277 shares of the business’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $273.41, for a total value of $75,734.57. Following the completion of the transaction, the general counsel now directly owns 7,705 shares of the company’s stock, valued at approximately $2,106,624.05. This trade represents a 3.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Madrigal Pharmaceuticals Stock Performance

Shares of NASDAQ MDGL opened at $293.64 on Monday. The stock has a market cap of $6.40 billion, a PE ratio of -11.71 and a beta of -0.36. Madrigal Pharmaceuticals, Inc. has a 1 year low of $168.25 and a 1 year high of $368.29. The firm has a fifty day moving average price of $314.19 and a 200-day moving average price of $272.70. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.98 and a quick ratio of 5.93.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($6.94) by $2.02. The business had revenue of $62.18 million during the quarter, compared to analysts’ expectations of $34.60 million. During the same quarter in the previous year, the company posted ($5.34) EPS. Equities analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.77 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on MDGL shares. Oppenheimer lowered their price objective on shares of Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. UBS Group increased their price target on Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a “buy” rating in a report on Friday, November 1st. B. Riley lifted their price objective on Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. JMP Securities reissued a “market outperform” rating and issued a $427.00 target price on shares of Madrigal Pharmaceuticals in a report on Friday, January 10th. Finally, StockNews.com upgraded Madrigal Pharmaceuticals to a “sell” rating in a research note on Saturday, October 12th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $351.67.

Institutional Trading of Madrigal Pharmaceuticals

Several institutional investors have recently made changes to their positions in the business. Miracle Mile Advisors LLC purchased a new position in Madrigal Pharmaceuticals in the 4th quarter worth approximately $216,000. Franklin Resources Inc. lifted its holdings in shares of Madrigal Pharmaceuticals by 8.0% in the third quarter. Franklin Resources Inc. now owns 1,383 shares of the biopharmaceutical company’s stock worth $298,000 after buying an additional 103 shares in the last quarter. Sanctuary Advisors LLC boosted its position in shares of Madrigal Pharmaceuticals by 12.7% during the third quarter. Sanctuary Advisors LLC now owns 1,185 shares of the biopharmaceutical company’s stock worth $251,000 after acquiring an additional 134 shares during the last quarter. Geode Capital Management LLC grew its stake in Madrigal Pharmaceuticals by 1.5% during the third quarter. Geode Capital Management LLC now owns 405,655 shares of the biopharmaceutical company’s stock valued at $86,104,000 after acquiring an additional 5,801 shares in the last quarter. Finally, Barclays PLC increased its holdings in Madrigal Pharmaceuticals by 159.9% in the 3rd quarter. Barclays PLC now owns 40,279 shares of the biopharmaceutical company’s stock valued at $8,549,000 after acquiring an additional 24,783 shares during the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

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.