Madrigal Pharmaceuticals (NASDAQ:MDGL) CEO William John Sibold Sells 5,221 Shares

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) CEO William Sibold sold 5,221 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $542.39, for a total transaction of $2,831,818.19. Following the completion of the sale, the chief executive officer owned 197,746 shares of the company’s stock, valued at $107,255,452.94. This trade represents a 2.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

William John Sibold also recently made the following trade(s):

• On Wednesday, September 9th, William Sibold sold 6,362 shares of Madrigal Pharmaceuticals stock. The shares were sold at an average price of $535.59, for a total value of $3,407,423.58.

Madrigal Pharmaceuticals Stock Performance

NASDAQ MDGL traded up $1.37 during trading hours on Friday, reaching $534.49. The stock had a trading volume of 187,642 shares, compared to its average volume of 339,731. Madrigal Pharmaceuticals, Inc. has a 52-week low of $393.61 and a 52-week high of $615.00. The stock has a fifty day moving average of $530.87 and a 200 day moving average of $507.44. The company has a debt-to-equity ratio of 0.65, a quick ratio of 2.94 and a current ratio of 3.20. The stock has a market cap of $12.35 billion, a P/E ratio of -41.47 and a beta of -0.98.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported ($1.99) earnings per share for the quarter, topping the consensus estimate of ($2.68) by $0.69. The company had revenue of $364.25 million for the quarter, compared to the consensus estimate of $352.13 million. Madrigal Pharmaceuticals had a negative return on equity of 56.65% and a negative net margin of 25.32%.The firm’s revenue for the quarter was up 71.2% compared to the same quarter last year. During the same period last year, the firm earned ($1.90) EPS. Sell-side analysts predict that Madrigal Pharmaceuticals, Inc. will post -7.03 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Canaccord Genuity Group increased their target price on shares of Madrigal Pharmaceuticals from $578.00 to $587.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Piper Sandler restated an “overweight” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, June 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a report on Friday, July 17th. UBS Group reiterated a “buy” rating on shares of Madrigal Pharmaceuticals in a research report on Friday, July 31st. Finally, Wells Fargo & Company started coverage on Madrigal Pharmaceuticals in a report on Monday, July 27th. They issued an “overweight” rating and a $685.00 price objective on the stock. Fifteen analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $699.64.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

A number of hedge funds have recently made changes to their positions in MDGL. California State Teachers Retirement System lifted its position in shares of Madrigal Pharmaceuticals by 54,067.5% in the second quarter. California State Teachers Retirement System now owns 9,233,929 shares of the biopharmaceutical company’s stock valued at $4,958,158,000 after acquiring an additional 9,216,882 shares in the last quarter. Jupiter Topco LLC purchased a new stake in shares of Madrigal Pharmaceuticals during the second quarter worth approximately $1,039,650,000. Paulson & CO. Inc. purchased a new stake in shares of Madrigal Pharmaceuticals during the second quarter worth approximately $719,524,000. BlackRock Inc. acquired a new position in Madrigal Pharmaceuticals in the 2nd quarter valued at $644,753,000. Finally, Janus Henderson Group PLC raised its stake in Madrigal Pharmaceuticals by 27.4% in the 1st quarter. Janus Henderson Group PLC now owns 2,018,647 shares of the biopharmaceutical company’s stock valued at $1,051,727,000 after purchasing an additional 433,804 shares during the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

About Madrigal Pharmaceuticals

Madrigal Pharmaceuticals, Inc (NASDAQ: MDGL) is a biopharmaceutical company focused on developing and commercializing therapies for cardiometabolic diseases, particularly nonalcoholic steatohepatitis, now commonly referred to as metabolic dysfunction-associated steatohepatitis (MASH).

The company’s lead product is Rezdiffra (resmetirom), an oral, thyroid hormone receptor beta agonist designed to target underlying liver disease. In 2024, the U.S. Food and Drug Administration approved Rezdiffra for use with diet and exercise to treat adults with noncirrhotic MASH and moderate to advanced liver fibrosis.