Fred B. Craves Sells 3,400 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Director Fred B. Craves sold 3,400 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $350.30, for a total transaction of $1,191,020.00. Following the sale, the director now owns 14,600 shares of the company’s stock, valued at approximately $5,114,380. This represents a 18.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Madrigal Pharmaceuticals Trading Down 1.6 %

MDGL opened at $331.45 on Friday. The firm’s fifty day simple moving average is $260.42 and its 200 day simple moving average is $257.90. The stock has a market capitalization of $7.23 billion, a P/E ratio of -13.22 and a beta of -0.46. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15. Madrigal Pharmaceuticals, Inc. has a 12 month low of $168.25 and a 12 month high of $368.29.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share for the quarter, topping the consensus estimate of ($6.94) by $2.02. The firm had revenue of $62.18 million for the quarter, compared to analyst estimates of $34.60 million. During the same period in the prior year, the company earned ($5.34) earnings per share. As a group, research analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -24.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MDGL has been the subject of a number of analyst reports. Citigroup lowered their target price on shares of Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating for the company in a report on Thursday, August 8th. B. Riley increased their target price on Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. UBS Group boosted their target price on Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Cantor Fitzgerald reiterated a “neutral” rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, November 20th. Finally, Oppenheimer reduced 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 note on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $347.33.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

Large investors have recently bought and sold shares of the company. First Horizon Advisors Inc. lifted its position in shares of Madrigal Pharmaceuticals by 1,633.3% in the second quarter. First Horizon Advisors Inc. now owns 104 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 98 shares in the last quarter. Signaturefd LLC increased its stake in Madrigal Pharmaceuticals by 36.8% in the 2nd quarter. Signaturefd LLC now owns 145 shares of the biopharmaceutical company’s stock valued at $41,000 after buying an additional 39 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in Madrigal Pharmaceuticals by 47.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock worth $45,000 after buying an additional 68 shares in the last quarter. Quest Partners LLC boosted its stake in shares of Madrigal Pharmaceuticals by 5,225.0% during the 2nd quarter. Quest Partners LLC now owns 213 shares of the biopharmaceutical company’s stock worth $60,000 after buying an additional 209 shares during the last quarter. Finally, Comerica Bank grew its holdings in shares of Madrigal Pharmaceuticals by 615.4% in the 1st quarter. Comerica Bank now owns 372 shares of the biopharmaceutical company’s stock valued at $99,000 after acquiring an additional 320 shares in the last quarter. Institutional investors and hedge funds 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.