Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) General Counsel Sells $479,624.24 in Stock

Key Points

• Madrigal Pharmaceuticals' General Counsel, Shannon T. Kelley, sold 1,304 shares of stock for approximately $479,624, resulting in a 12.45% decrease in their ownership.
• During a recent trading session, Madrigal's stock price increased by $21.59 to reach $391.43, with a significant trading volume of 805,015 shares.
• The company reported a remarkable 1357.5% increase in revenue year-over-year, indicating strong performance as it transitions closer to potential product approval for treating non-alcoholic steatohepatitis (NASH).

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Get Free Report) General Counsel Shannon T. Kelley sold 1,304 shares of Madrigal Pharmaceuticals stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $367.81, for a total transaction of $479,624.24. Following the transaction, the general counsel directly owned 9,173 shares in the company, valued at $3,373,921.13. This trade represents a 12.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Madrigal Pharmaceuticals Stock Performance

MDGL traded up $21.59 during trading on Monday, hitting $391.43. 805,015 shares of the stock were exchanged, compared to its average volume of 425,668. The firm has a market capitalization of $8.69 billion, a P/E ratio of -30.46 and a beta of -1.02. Madrigal Pharmaceuticals, Inc. has a 1-year low of $200.63 and a 1-year high of $393.76. The stock has a fifty day moving average price of $312.58 and a two-hundred day moving average price of $314.57. 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 (NASDAQ:MDGL - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($1.90) EPS for the quarter, topping the consensus estimate of ($3.48) by $1.58. The company had revenue of $212.80 million for the quarter, compared to analyst estimates of $158.94 million. Madrigal Pharmaceuticals had a negative return on equity of 38.38% and a negative net margin of 54.68%. The firm's revenue was up 1357.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($7.10) earnings per share. As a group, sell-side analysts predict that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MDGL. Wall Street Zen raised shares of Madrigal Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Monday, May 5th. Canaccord Genuity Group raised their price objective on Madrigal Pharmaceuticals from $420.00 to $428.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. JMP Securities reissued a "market outperform" rating and set a $443.00 price objective on shares of Madrigal Pharmaceuticals in a research report on Thursday, April 24th. B. Riley reissued a "buy" rating and set a $460.00 price objective (up from $422.00) on shares of Madrigal Pharmaceuticals in a research report on Friday, May 2nd. Finally, UBS Group reaffirmed a "buy" rating and issued a $523.00 target price (up from $458.00) on shares of Madrigal Pharmaceuticals in a research report on Tuesday, August 12th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Madrigal Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus price target of $439.71.

Institutional Trading of Madrigal Pharmaceuticals

Institutional investors have recently bought and sold shares of the company. VSM Wealth Advisory LLC purchased a new position in Madrigal Pharmaceuticals during the first quarter worth about $25,000. Accent Capital Management LLC purchased a new stake in Madrigal Pharmaceuticals in the 1st quarter valued at about $25,000. AlphaQuest LLC grew its holdings in Madrigal Pharmaceuticals by 412.5% in the 2nd quarter. AlphaQuest LLC now owns 82 shares of the biopharmaceutical company's stock valued at $25,000 after buying an additional 66 shares during the period. Summit Securities Group LLC acquired a new stake in Madrigal Pharmaceuticals during the first quarter worth about $33,000. Finally, Farther Finance Advisors LLC increased its stake in Madrigal Pharmaceuticals by 825.0% during the first quarter. Farther Finance Advisors LLC now owns 111 shares of the biopharmaceutical company's stock worth $36,000 after acquiring an additional 99 shares during the last quarter. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

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.

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