Madrigal Pharmaceuticals (NASDAQ:MDGL) Director Paul Friedman Sells 24,520 Shares

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Director Paul Friedman sold 24,520 shares of the business’s stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $522.39, for a total value of $12,809,002.80. Following the transaction, the director directly owned 187,164 shares of the company’s stock, valued at approximately $97,772,601.96. This represents a 11.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Madrigal Pharmaceuticals Stock Down 3.3%

NASDAQ:MDGL traded down $16.63 during mid-day trading on Tuesday, hitting $493.90. The stock had a trading volume of 430,259 shares, compared to its average volume of 431,607. Madrigal Pharmaceuticals, Inc. has a twelve month low of $265.00 and a twelve month high of $615.00. The stock has a 50-day simple moving average of $559.75 and a two-hundred day simple moving average of $447.71. The company has a current ratio of 3.44, a quick ratio of 3.26 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $11.22 billion, a PE ratio of -37.96, a PEG ratio of 3.64 and a beta of -1.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings data on Tuesday, November 4th. The biopharmaceutical company reported ($5.08) EPS for the quarter, missing analysts’ consensus estimates of ($2.01) by ($3.07). Madrigal Pharmaceuticals had a negative net margin of 39.04% and a negative return on equity of 41.50%. On average, equities research analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Cowen reaffirmed a “buy” rating on shares of Madrigal Pharmaceuticals in a research report on Monday. Citizens Jmp boosted their target price on Madrigal Pharmaceuticals from $485.00 to $527.00 and gave the stock a “market outperform” rating in a research note on Wednesday, November 5th. UBS Group set a $900.00 price target on Madrigal Pharmaceuticals in a report on Friday, December 19th. Piper Sandler raised their price objective on shares of Madrigal Pharmaceuticals from $540.00 to $900.00 and gave the stock an “overweight” rating in a report on Friday, December 19th. Finally, Bank of America upgraded shares of Madrigal Pharmaceuticals from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $266.00 to $445.00 in a research report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $620.62.

Institutional Trading of Madrigal Pharmaceuticals

A number of large investors have recently bought and sold shares of MDGL. China Universal Asset Management Co. Ltd. increased its stake in Madrigal Pharmaceuticals by 0.7% in the second quarter. China Universal Asset Management Co. Ltd. now owns 4,459 shares of the biopharmaceutical company’s stock valued at $1,349,000 after purchasing an additional 30 shares during the period. Centaurus Financial Inc. grew its holdings in shares of Madrigal Pharmaceuticals by 5.0% during the third quarter. Centaurus Financial Inc. now owns 709 shares of the biopharmaceutical company’s stock worth $325,000 after buying an additional 34 shares during the last quarter. Park Avenue Securities LLC increased its position in Madrigal Pharmaceuticals by 6.6% in the 2nd 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 during the period. Orion Porfolio Solutions LLC increased its position in Madrigal Pharmaceuticals by 1.3% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 3,638 shares of the biopharmaceutical company’s stock valued at $1,101,000 after acquiring an additional 47 shares during the period. Finally, GAMMA Investing LLC raised its stake in Madrigal Pharmaceuticals by 114.3% during the 3rd quarter. GAMMA Investing LLC now owns 90 shares of the biopharmaceutical company’s stock valued at $41,000 after acquiring an additional 48 shares during the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Company Profile

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.