David Soergel Sells 844 Shares of Madrigal Pharmaceuticals (NASDAQ:MDGL) Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) insider David Soergel sold 844 shares of the business’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $515.90, for a total transaction of $435,419.60. Following the transaction, the insider directly owned 11,075 shares in the company, valued at approximately $5,713,592.50. The trade was a 7.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Madrigal Pharmaceuticals Trading Down 0.3%

Madrigal Pharmaceuticals stock traded down $1.46 during mid-day trading on Monday, reaching $522.23. 325,809 shares of the company traded hands, compared to its average volume of 348,122. 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’s 50 day moving average price is $498.23 and its 200 day moving average price is $510.90. The firm has a market capitalization of $12.04 billion, a price-to-earnings ratio of -40.80 and a beta of -1.04. Madrigal Pharmaceuticals, Inc. has a 52-week low of $265.00 and a 52-week high of $615.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported ($3.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($3.61) by $0.36. The business had revenue of $311.34 million for the quarter, compared to the consensus estimate of $301.05 million. Madrigal Pharmaceuticals had a negative net margin of 27.32% and a negative return on equity of 50.15%. The company’s quarterly revenue was up 126.8% compared to the same quarter last year. During the same period in the previous year, the firm earned ($3.32) EPS. On average, analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -6.49 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

A number of hedge funds have recently bought and sold shares of the company. Baker BROS. Advisors LP raised its position in Madrigal Pharmaceuticals by 8.4% in the 3rd quarter. Baker BROS. Advisors LP now owns 2,141,701 shares of the biopharmaceutical company’s stock worth $982,313,000 after buying an additional 165,683 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its position in Madrigal Pharmaceuticals by 388.3% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 15,288 shares of the biopharmaceutical company’s stock worth $7,012,000 after buying an additional 12,157 shares during the last quarter. Iron Triangle Partners LP purchased a new position in Madrigal Pharmaceuticals in the 3rd quarter worth about $26,776,000. New York State Common Retirement Fund raised its position in Madrigal Pharmaceuticals by 13.4% in the 3rd quarter. New York State Common Retirement Fund now owns 69,273 shares of the biopharmaceutical company’s stock worth $31,773,000 after buying an additional 8,211 shares during the last quarter. Finally, Peak Financial Advisors LLC raised its position in Madrigal Pharmaceuticals by 287.0% in the 4th quarter. Peak Financial Advisors LLC now owns 4,466 shares of the biopharmaceutical company’s stock worth $2,601,000 after buying an additional 3,312 shares during the last quarter. Institutional investors own 98.50% of the company’s stock.

Analyst Upgrades and Downgrades

MDGL has been the topic of a number of research reports. HC Wainwright restated a “buy” rating and set a $620.00 target price on shares of Madrigal Pharmaceuticals in a report on Wednesday, May 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a report on Tuesday, April 21st. Evercore set a $649.00 target price on shares of Madrigal Pharmaceuticals in a report on Thursday, May 7th. Canaccord Genuity Group dropped their target price on shares of Madrigal Pharmaceuticals from $587.00 to $578.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Finally, Bank of America dropped their target price on shares of Madrigal Pharmaceuticals from $570.00 to $529.00 and set a “neutral” rating on the stock in a report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $687.00.

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.