Madrigal Pharmaceuticals (NASDAQ:MDGL) Director Paul Friedman Sells 24,520 Shares

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Director Paul Friedman sold 24,520 shares of the business’s stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $522.39, for a total value of $12,809,002.80. Following the completion of the transaction, the director directly owned 187,164 shares in the company, valued at approximately $97,772,601.96. The trade was a 11.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Madrigal Pharmaceuticals Stock Performance

Shares of Madrigal Pharmaceuticals stock traded down $16.63 during trading hours on Tuesday, hitting $493.90. 430,259 shares of the company were exchanged, compared to its average volume of 431,607. The business has a 50-day moving average of $559.75 and a 200-day moving average of $447.71. Madrigal Pharmaceuticals, Inc. has a 1 year low of $265.00 and a 1 year high of $615.00. The company has a current ratio of 3.44, a quick ratio of 3.26 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $11.22 billion, a price-to-earnings ratio of -37.96, a P/E/G ratio of 3.64 and a beta of -1.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings data 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%. As a group, analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of MDGL. Peak Financial Advisors LLC lifted its stake in shares of Madrigal Pharmaceuticals by 287.0% during the fourth quarter. Peak Financial Advisors LLC now owns 4,466 shares of the biopharmaceutical company’s stock valued at $2,601,000 after buying an additional 3,312 shares during the period. SG Americas Securities LLC grew its stake in Madrigal Pharmaceuticals by 23.0% in the 4th quarter. SG Americas Securities LLC now owns 6,386 shares of the biopharmaceutical company’s stock worth $3,719,000 after acquiring an additional 1,195 shares during the period. Assenagon Asset Management S.A. acquired a new position in Madrigal Pharmaceuticals in the 4th quarter valued at $3,139,000. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Madrigal Pharmaceuticals by 113.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,513 shares of the biopharmaceutical company’s stock worth $844,000 after purchasing an additional 805 shares during the period. Finally, Aventura Private Wealth LLC purchased a new position in shares of Madrigal Pharmaceuticals during the 4th quarter worth $36,000. 98.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MDGL has been the subject of several analyst reports. HC Wainwright raised their price objective on shares of Madrigal Pharmaceuticals from $568.00 to $620.00 and gave the company a “buy” rating in a research report on Friday, November 21st. JMP Securities set a $527.00 target price on Madrigal Pharmaceuticals in a research note on Wednesday, November 5th. Citizens Jmp raised their price target on Madrigal Pharmaceuticals from $485.00 to $527.00 and gave the company a “market outperform” rating in a report on Wednesday, November 5th. Truist Financial upped their price objective on Madrigal Pharmaceuticals from $580.00 to $640.00 and gave the stock a “buy” rating in a report on Wednesday, November 19th. Finally, UBS Group set a $900.00 price objective on Madrigal Pharmaceuticals in a research report on Friday, December 19th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $620.62.

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-β agonist in Phase 3 development for the treatment of NASH.