Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Director Sells $946,296.00 in Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Get Free Report) Director Paul A. Friedman sold 2,700 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of $350.48, for a total value of $946,296.00. Following the completion of the transaction, the director directly owned 187,164 shares in the company, valued at approximately $65,597,238.72. This represents a 1.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Madrigal Pharmaceuticals Stock Performance

NASDAQ MDGL traded down $17.54 during trading hours on Tuesday, reaching $313.40. 583,499 shares of the company were exchanged, compared to its average volume of 362,104. The company has a quick ratio of 5.58, a current ratio of 5.91 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $6.96 billion, a P/E ratio of -17.36 and a beta of -1.05. Madrigal Pharmaceuticals, Inc. has a 1 year low of $200.63 and a 1 year high of $377.46. The business's 50 day simple moving average is $292.49 and its 200-day simple moving average is $312.53.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last issued its earnings results on Thursday, May 1st. The biopharmaceutical company reported ($3.32) EPS for the quarter, topping the consensus estimate of ($3.62) by $0.30. The business had revenue of $137.25 million during the quarter, compared to the consensus estimate of $112.79 million. Madrigal Pharmaceuticals had a negative return on equity of 50.54% and a negative net margin of 123.38%. During the same quarter last year, the company earned ($7.38) EPS. On average, equities research analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current year.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

Large investors have recently made changes to their positions in the business. Rhumbline Advisers raised its stake in shares of Madrigal Pharmaceuticals by 7.9% in the first quarter. Rhumbline Advisers now owns 26,364 shares of the biopharmaceutical company's stock worth $8,733,000 after purchasing an additional 1,924 shares during the last quarter. GAMMA Investing LLC raised its position in Madrigal Pharmaceuticals by 131.4% in the 1st quarter. GAMMA Investing LLC now owns 118 shares of the biopharmaceutical company's stock worth $39,000 after buying an additional 67 shares during the last quarter. Franklin Resources Inc. lifted its stake in Madrigal Pharmaceuticals by 340.1% during the 4th quarter. Franklin Resources Inc. now owns 6,087 shares of the biopharmaceutical company's stock valued at $1,878,000 after acquiring an additional 4,704 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Madrigal Pharmaceuticals during the 4th quarter valued at about $16,615,000. Finally, Prudential Financial Inc. grew its stake in shares of Madrigal Pharmaceuticals by 166.2% in the fourth quarter. Prudential Financial Inc. now owns 3,655 shares of the biopharmaceutical company's stock worth $1,128,000 after acquiring an additional 2,282 shares during the period. 98.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MDGL has been the topic of several research reports. B. Riley restated a "buy" rating and set a $460.00 price objective (up previously from $422.00) on shares of Madrigal Pharmaceuticals in a report on Friday, May 2nd. UBS Group raised their price target on shares of Madrigal Pharmaceuticals from $441.00 to $458.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Canaccord Genuity Group boosted their price objective on Madrigal Pharmaceuticals from $394.00 to $420.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. JMP Securities reissued a "market outperform" rating and issued a $443.00 price objective on shares of Madrigal Pharmaceuticals in a research note on Thursday, April 24th. Finally, Wall Street Zen raised Madrigal Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Monday, May 5th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, Madrigal Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average price target of $420.63.

About Madrigal Pharmaceuticals

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.