Madrigal Pharmaceuticals (NASDAQ:MDGL) Insider Carole Huntsman Sells 419 Shares

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) insider Carole Huntsman sold 419 shares of the stock in a transaction on Friday, March 6th. The stock was sold at an average price of $431.94, for a total value of $180,982.86. Following the sale, the insider owned 12,692 shares in the company, valued at $5,482,182.48. The trade was a 3.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Carole Huntsman also recently made the following trade(s):

• On Monday, January 26th, Carole Huntsman sold 910 shares of Madrigal Pharmaceuticals stock. The shares were sold at an average price of $493.78, for a total value of $449,339.80.

Madrigal Pharmaceuticals Price Performance

NASDAQ MDGL traded down $6.51 on Friday, hitting $432.83. 440,127 shares of the company were exchanged, compared to its average volume of 374,182. Madrigal Pharmaceuticals, Inc. has a 1-year low of $265.00 and a 1-year high of $615.00. The firm has a 50 day moving average of $492.64 and a two-hundred day moving average of $486.72. The company has a current ratio of 4.01, a quick ratio of 3.77 and a debt-to-equity ratio of 0.56. The company has a market cap of $9.93 billion, a P/E ratio of -33.63 and a beta of -0.97.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its earnings results on Thursday, February 19th. The biopharmaceutical company reported ($2.57) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($2.61). Madrigal Pharmaceuticals had a negative return on equity of 43.76% and a negative net margin of 30.08%.The company had revenue of $321.08 million during the quarter, compared to the consensus estimate of $310.36 million. During the same period in the prior year, the firm posted ($2.71) earnings per share. The company’s revenue was up 210.8% on a year-over-year basis. On average, equities analysts predict that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MDGL. UBS Group set a $900.00 price objective on Madrigal Pharmaceuticals in a research report on Friday, December 19th. Truist Financial upped their price target on Madrigal Pharmaceuticals from $580.00 to $640.00 and gave the company a “buy” rating in a research note on Wednesday, November 19th. Bank of America lowered their price objective on Madrigal Pharmaceuticals from $570.00 to $529.00 and set a “neutral” rating for the company in a research report on Friday, February 20th. Oppenheimer boosted their price objective on Madrigal Pharmaceuticals from $600.00 to $650.00 and gave the stock an “outperform” rating in a report on Thursday, November 20th. Finally, Barclays began coverage on shares of Madrigal Pharmaceuticals in a research note on Tuesday, January 27th. They issued an “overweight” rating and a $964.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $685.31.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Eastern Bank boosted its holdings in Madrigal Pharmaceuticals by 32.3% during the fourth quarter. Eastern Bank now owns 86 shares of the biopharmaceutical company’s stock worth $50,000 after buying an additional 21 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its stake in shares of Madrigal Pharmaceuticals by 0.7% in the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 4,459 shares of the biopharmaceutical company’s stock valued at $1,349,000 after acquiring an additional 30 shares during the last quarter. Centaurus Financial Inc. increased its stake in shares of Madrigal Pharmaceuticals by 5.0% in the 3rd quarter. Centaurus Financial Inc. now owns 709 shares of the biopharmaceutical company’s stock valued at $325,000 after acquiring an additional 34 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of Madrigal Pharmaceuticals by 34.6% in the 4th quarter. Farther Finance Advisors LLC now owns 140 shares of the biopharmaceutical company’s stock valued at $82,000 after acquiring an additional 36 shares during the period. Finally, Accent Capital Management LLC boosted its stake in Madrigal Pharmaceuticals by 64.9% during the 4th quarter. Accent Capital Management LLC now owns 94 shares of the biopharmaceutical company’s stock worth $55,000 after acquiring an additional 37 shares during the last quarter. Institutional investors own 98.50% of the company’s stock.

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.