Insider Selling: Madrigal Pharmaceuticals (NASDAQ:MDGL) CEO Sells 2,400 Shares of Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) CEO William John Sibold sold 2,400 shares of the stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $575.34, for a total transaction of $1,380,816.00. Following the completion of the sale, the chief executive officer directly owned 150,074 shares in the company, valued at approximately $86,343,575.16. This represents a 1.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Tuesday, September 9th, William John Sibold sold 7,279 shares of Madrigal Pharmaceuticals stock. The stock was sold at an average price of $445.63, for a total transaction of $3,243,740.77.

Madrigal Pharmaceuticals Trading Up 1.1%

Madrigal Pharmaceuticals stock traded up $6.32 during midday trading on Thursday, reaching $586.21. The stock had a trading volume of 219,562 shares, compared to its average volume of 371,224. The company has a quick ratio of 3.26, a current ratio of 3.44 and a debt-to-equity ratio of 0.54. The firm has a market cap of $13.31 billion, a price-to-earnings ratio of -45.06 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 fifty day moving average of $481.97 and a 200 day moving average of $389.67.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its 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 anticipate that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MDGL has been the topic of a number of recent analyst reports. B. Riley increased their target price on Madrigal Pharmaceuticals from $460.00 to $560.00 and gave the stock a “buy” rating in a research note on Monday, September 29th. Bank of America upgraded shares of Madrigal Pharmaceuticals from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $266.00 to $445.00 in a report on Monday, November 3rd. TD Cowen lifted their price objective on shares of Madrigal Pharmaceuticals from $390.00 to $554.00 and gave the company a “buy” rating in a report on Tuesday, August 26th. Canaccord Genuity Group boosted their price objective on shares of Madrigal Pharmaceuticals from $526.00 to $587.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. Finally, Cowen reaffirmed a “buy” rating on shares of Madrigal Pharmaceuticals in a research report on Tuesday, August 26th. Thirteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $553.50.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of MDGL. Teacher Retirement System of Texas boosted its holdings in Madrigal Pharmaceuticals by 9.6% in the second quarter. Teacher Retirement System of Texas now owns 3,860 shares of the biopharmaceutical company’s stock worth $1,168,000 after acquiring an additional 338 shares in the last quarter. XTX Topco Ltd acquired a new stake in Madrigal Pharmaceuticals in the 1st quarter worth approximately $392,000. Rhumbline Advisers boosted its stake in Madrigal Pharmaceuticals by 7.9% in the 1st quarter. Rhumbline Advisers now owns 26,364 shares of the biopharmaceutical company’s stock worth $8,733,000 after purchasing an additional 1,924 shares in the last quarter. Emerald Mutual Fund Advisers Trust grew its position in Madrigal Pharmaceuticals by 4.8% during the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 36,920 shares of the biopharmaceutical company’s stock worth $11,173,000 after purchasing an additional 1,682 shares during the last quarter. Finally, Emerald Advisers LLC increased its stake in Madrigal Pharmaceuticals by 10.9% during the 2nd quarter. Emerald Advisers LLC now owns 53,108 shares of the biopharmaceutical company’s stock valued at $16,073,000 after purchasing an additional 5,199 shares in the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

About Madrigal Pharmaceuticals

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.