Insider Selling: Madrigal Pharmaceuticals (NASDAQ:MDGL) CEO Sells $776,546.34 in Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) CEO William John Sibold sold 1,577 shares of the business’s stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $492.42, for a total value of $776,546.34. Following the completion of the sale, the chief executive officer directly owned 148,497 shares of the company’s stock, valued at approximately $73,122,892.74. This represents a 1.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Thursday, December 4th, William John Sibold sold 2,400 shares of Madrigal Pharmaceuticals stock. The stock was sold at an average price of $575.34, for a total value of $1,380,816.00.

Madrigal Pharmaceuticals Price Performance

Shares of MDGL opened at $496.54 on Thursday. Madrigal Pharmaceuticals, Inc. has a 52 week low of $265.00 and a 52 week high of $615.00. 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 firm has a market cap of $11.28 billion, a price-to-earnings ratio of -38.17, a PEG ratio of 4.94 and a beta of -1.00. The stock has a 50 day moving average of $555.71 and a 200-day moving average of $463.17.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on MDGL shares. Wolfe Research set a $579.00 price objective on shares of Madrigal Pharmaceuticals in a research report on Tuesday, January 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a report on Thursday, January 22nd. JMP Securities set a $527.00 price target on Madrigal Pharmaceuticals in a report on Wednesday, November 5th. Citigroup restated an “outperform” rating on shares of Madrigal Pharmaceuticals in a research note on Tuesday, January 20th. Finally, Cantor Fitzgerald raised Madrigal Pharmaceuticals from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Madrigal Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $654.73.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Eastern Bank raised its stake in Madrigal Pharmaceuticals by 32.3% during the 4th quarter. Eastern Bank now owns 86 shares of the biopharmaceutical company’s stock valued at $50,000 after acquiring an additional 21 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in shares of Madrigal Pharmaceuticals by 0.7% during 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. raised its stake 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 valued at $325,000 after purchasing an additional 34 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in Madrigal Pharmaceuticals by 34.6% in the fourth quarter. Farther Finance Advisors LLC now owns 140 shares of the biopharmaceutical company’s stock worth $82,000 after purchasing an additional 36 shares during the period. Finally, Park Avenue Securities LLC grew 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 buying an additional 43 shares in the last quarter. 98.50% of the stock is owned by 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.