Madrigal Pharmaceuticals (NASDAQ:MDGL) CFO Sells $505,389.43 in Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) CFO Mardi Dier sold 1,183 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $427.21, for a total transaction of $505,389.43. Following the completion of the transaction, the chief financial officer directly owned 9,257 shares of the company’s stock, valued at approximately $3,954,682.97. This represents a 11.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Mardi Dier also recently made the following trade(s):

• On Tuesday, December 2nd, Mardi Dier sold 4,173 shares of Madrigal Pharmaceuticals stock. The stock was sold at an average price of $578.34, for a total transaction of $2,413,412.82.

Madrigal Pharmaceuticals Price Performance

Madrigal Pharmaceuticals stock opened at $434.80 on Thursday. 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 price of $499.24 and a 200 day moving average price of $486.77. The company has a market cap of $9.97 billion, a price-to-earnings ratio of -33.78 and a beta of -0.97. The company has a debt-to-equity ratio of 0.56, a quick ratio of 3.77 and a current ratio of 4.01.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly 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). The company had revenue of $321.08 million for the quarter, compared to analysts’ expectations of $310.36 million. Madrigal Pharmaceuticals had a negative return on equity of 43.76% and a negative net margin of 30.08%.The business’s revenue for the quarter was up 210.8% on a year-over-year basis. During the same period in the prior year, the business earned ($2.71) EPS. Sell-side analysts predict that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current year.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC purchased a new position in Madrigal Pharmaceuticals in the 4th quarter valued at about $29,000. Aventura Private Wealth LLC purchased a new position in Madrigal Pharmaceuticals in the fourth quarter valued at about $36,000. Kemnay Advisory Services Inc. purchased a new position in Madrigal Pharmaceuticals in the fourth quarter valued at about $39,000. Mather Group LLC. acquired a new stake in Madrigal Pharmaceuticals during the 3rd quarter valued at approximately $33,000. Finally, Global Retirement Partners LLC increased its holdings in Madrigal Pharmaceuticals by 221.7% during the 3rd quarter. Global Retirement Partners LLC now owns 74 shares of the biopharmaceutical company’s stock worth $34,000 after purchasing an additional 51 shares during the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Analyst Ratings Changes

MDGL has been the topic of several research analyst reports. TD Cowen reaffirmed a “buy” rating on shares of Madrigal Pharmaceuticals in a research note on Monday, January 12th. Wolfe Research set a $579.00 price objective on shares of Madrigal Pharmaceuticals in a research note on Tuesday, January 6th. HC Wainwright increased their price objective on shares of Madrigal Pharmaceuticals from $568.00 to $620.00 and gave the stock a “buy” rating in a research report on Friday, November 21st. Citizens Jmp lifted their target price on shares of Madrigal Pharmaceuticals from $527.00 to $745.00 and gave the company a “market outperform” rating in a report on Tuesday, January 20th. Finally, Barclays assumed coverage on shares of Madrigal Pharmaceuticals in a research report on Tuesday, January 27th. They set an “overweight” rating and a $964.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $685.31.

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.