Madrigal Pharmaceuticals (NASDAQ:MDGL) Director Richard Levy Sells 8,500 Shares

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Director Richard Levy sold 8,500 shares of the company’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $520.96, for a total transaction of $4,428,160.00. Following the completion of the sale, the director directly owned 21,197 shares in the company, valued at approximately $11,042,789.12. The trade was a 28.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Madrigal Pharmaceuticals Price Performance

Shares of NASDAQ MDGL traded up $14.28 during trading on Friday, hitting $529.21. The company had a trading volume of 263,382 shares, compared to its average volume of 372,871. The firm has a market capitalization of $12.02 billion, a price-to-earnings ratio of -41.18 and a beta of -1.04. The stock has a fifty day simple moving average of $445.89 and a two-hundred day simple moving average of $364.78. The company has a quick ratio of 4.78, a current ratio of 5.11 and a debt-to-equity ratio of 0.17. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $265.00 and a fifty-two week high of $544.25.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings results on Tuesday, November 4th. The biopharmaceutical company reported ($5.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.01) by ($3.07). Madrigal Pharmaceuticals had a negative net margin of 54.68% and a negative return on equity of 38.38%. On average, research analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on MDGL shares. Bank of America upgraded shares of Madrigal Pharmaceuticals from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $266.00 to $445.00 in a research report on Monday, November 3rd. Citigroup restated an “outperform” rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, November 5th. JMP Securities set a $527.00 price objective on Madrigal Pharmaceuticals in a research report on Wednesday, November 5th. B. Riley raised their target price on Madrigal Pharmaceuticals from $460.00 to $560.00 and gave the stock a “buy” rating in a research note on Monday, September 29th. Finally, Canaccord Genuity Group lifted their price target on Madrigal Pharmaceuticals from $526.00 to $587.00 and gave the stock a “buy” rating in a report on Thursday. Thirteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $539.17.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. increased its holdings in Madrigal Pharmaceuticals by 0.7% during the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 4,459 shares of the biopharmaceutical company’s stock worth $1,349,000 after purchasing an additional 30 shares during the period. Mutual of America Capital Management LLC increased its stake in shares of Madrigal Pharmaceuticals by 0.3% during the first quarter. Mutual of America Capital Management LLC now owns 11,263 shares of the biopharmaceutical company’s stock worth $3,731,000 after buying an additional 31 shares during the period. Park Avenue Securities LLC raised its holdings in Madrigal Pharmaceuticals by 6.6% in the second quarter. Park Avenue Securities LLC now owns 699 shares of the biopharmaceutical company’s stock valued at $212,000 after acquiring an additional 43 shares in the last quarter. Orion Porfolio Solutions LLC lifted its stake in Madrigal Pharmaceuticals by 1.3% in the second quarter. Orion Porfolio Solutions LLC now owns 3,638 shares of the biopharmaceutical company’s stock worth $1,101,000 after acquiring an additional 47 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Madrigal Pharmaceuticals by 114.3% in the 3rd quarter. GAMMA Investing LLC now owns 90 shares of the biopharmaceutical company’s stock valued at $41,000 after purchasing an additional 48 shares during the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Madrigal Pharmaceuticals Company Profile

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.