Madrigal Pharmaceuticals (NASDAQ:MDGL) Insider David Soergel Sells 1,042 Shares

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) insider David Soergel sold 1,042 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $495.74, for a total transaction of $516,561.08. Following the transaction, the insider owned 10,033 shares of the company’s stock, valued at $4,973,759.42. This represents a 9.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

David Soergel also recently made the following trade(s):

• On Monday, May 18th, David Soergel sold 844 shares of Madrigal Pharmaceuticals stock. The stock was sold at an average price of $515.90, for a total transaction of $435,419.60.

Madrigal Pharmaceuticals Stock Performance

NASDAQ:MDGL traded down $16.04 on Monday, reaching $481.23. 234,014 shares of the company’s stock were exchanged, compared to its average volume of 289,858. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.50 and a quick ratio of 3.16. The firm has a market cap of $11.10 billion, a price-to-earnings ratio of -37.60 and a beta of -1.07. Madrigal Pharmaceuticals, Inc. has a 52 week low of $268.69 and a 52 week high of $615.00. The stock has a fifty day simple moving average of $514.40 and a 200-day simple moving average of $515.10.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported ($3.25) EPS for the quarter, beating analysts’ consensus estimates of ($3.61) by $0.36. Madrigal Pharmaceuticals had a negative net margin of 27.32% and a negative return on equity of 50.15%. The company had revenue of $311.34 million during the quarter, compared to analyst estimates of $301.05 million. During the same period last year, the business earned ($3.32) earnings per share. Madrigal Pharmaceuticals’s revenue was up 126.8% compared to the same quarter last year. As a group, sell-side analysts predict that Madrigal Pharmaceuticals, Inc. will post -7.23 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on MDGL shares. Evercore set a $649.00 price objective on shares of Madrigal Pharmaceuticals in a research report on Thursday, May 7th. HC Wainwright restated a “buy” rating and issued a $620.00 price objective on shares of Madrigal Pharmaceuticals in a research report on Wednesday, May 6th. Truist Financial raised their price objective on shares of Madrigal Pharmaceuticals from $640.00 to $709.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Canaccord Genuity Group cut their price objective on shares of Madrigal Pharmaceuticals from $587.00 to $578.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Finally, Zacks Research upgraded shares of Madrigal Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $687.00.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Eastern Bank raised its stake in shares of 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 acquiring an additional 21 shares in the last quarter. Centaurus Financial Inc. raised its stake in shares of Madrigal Pharmaceuticals by 5.0% during the third quarter. Centaurus Financial Inc. now owns 709 shares of the biopharmaceutical company’s stock worth $325,000 after acquiring an additional 34 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of Madrigal Pharmaceuticals by 34.6% during the fourth quarter. Farther Finance Advisors LLC now owns 140 shares of the biopharmaceutical company’s stock worth $82,000 after acquiring an additional 36 shares in the last quarter. Accent Capital Management LLC raised its stake in shares of Madrigal Pharmaceuticals by 64.9% during the fourth quarter. Accent Capital Management LLC now owns 94 shares of the biopharmaceutical company’s stock worth $55,000 after acquiring an additional 37 shares in the last quarter. Finally, Swiss Life Asset Management Ltd raised its stake in shares of Madrigal Pharmaceuticals by 6.8% during the fourth quarter. Swiss Life Asset Management Ltd now owns 690 shares of the biopharmaceutical company’s stock worth $402,000 after acquiring an additional 44 shares in the last quarter. 98.50% of the stock is owned by hedge funds and other institutional investors.

Madrigal Pharmaceuticals Company Profile

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.