Mardi Dier Sells 1,982 Shares of Madrigal Pharmaceuticals (NASDAQ:MDGL) Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) CFO Mardi Dier sold 1,982 shares of Madrigal Pharmaceuticals stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $430.87, for a total transaction of $853,984.34. Following the completion of the transaction, the chief financial officer owned 12,490 shares of the company’s stock, valued at $5,381,566.30. The trade was a 13.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, March 2nd, Mardi Dier sold 1,183 shares of Madrigal Pharmaceuticals stock. The stock was sold at an average price of $427.21, for a total value of $505,389.43.

Madrigal Pharmaceuticals Price Performance

NASDAQ MDGL traded down $6.51 during trading hours on Friday, reaching $432.83. 440,127 shares of the stock traded hands, compared to its average volume of 374,182. The stock has a 50 day simple moving average of $492.64 and a two-hundred day simple moving average of $486.72. The company has a market cap of $9.93 billion, a price-to-earnings ratio of -33.63 and a beta of -0.97. Madrigal Pharmaceuticals, Inc. has a 1 year low of $265.00 and a 1 year high of $615.00. The company has a debt-to-equity ratio of 0.56, a current ratio of 4.01 and a quick ratio of 3.77.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings data on Thursday, February 19th. The biopharmaceutical company reported ($2.57) EPS for the quarter, missing the consensus estimate of $0.04 by ($2.61). The company had revenue of $321.08 million during 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 firm’s quarterly revenue was up 210.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($2.71) EPS. On average, analysts predict that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on MDGL shares. Canaccord Genuity Group raised their price objective on shares of Madrigal Pharmaceuticals from $526.00 to $587.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. Citigroup reiterated an “outperform” rating on shares of Madrigal Pharmaceuticals in a research note on Tuesday, January 20th. Barclays began coverage on Madrigal Pharmaceuticals in a research report on Tuesday, January 27th. They set an “overweight” rating and a $964.00 target price on the stock. Zacks Research raised shares of Madrigal Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Friday, February 20th. Finally, UBS Group set a $900.00 target price on Madrigal Pharmaceuticals in a research report on Friday, December 19th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $685.31.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

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

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.