Madrigal Pharmaceuticals (NASDAQ:MDGL) CEO Sells $718,316.22 in Stock

Key Points

• CEO William John Sibold sold 1,663 shares on March 6 at an average of $431.94 for a total of $718,316.22, cutting his stake by 1.02% to 161,829 shares (worth ~ $69.9M).
• Madrigal reported a quarterly EPS of ($2.57), missing estimates by $2.61 while revenue rose to $321.1M (up 210.8% YoY); the stock trades near $432.8 with a negative P/E and a market cap of about $9.93B.
• Analyst sentiment remains largely positive with a consensus rating of “Moderate Buy”, an average price target of $685.31, and multiple firms issuing buy/overweight ratings and price targets above $570.

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Get Free Report) CEO William John Sibold sold 1,663 shares of the firm's stock in a transaction on Friday, March 6th. The stock was sold at an average price of $431.94, for a total value of $718,316.22. Following the sale, the chief executive officer directly owned 161,829 shares of the company's stock, valued at approximately $69,900,418.26. This represents a 1.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, January 26th, William John Sibold sold 1,577 shares of Madrigal Pharmaceuticals stock. The stock was sold at an average price of $492.42, for a total value of $776,546.34.

Madrigal Pharmaceuticals Trading Down 1.5%

Shares of NASDAQ MDGL traded down $6.51 during mid-day trading on Friday, hitting $432.83. 440,127 shares of the company traded hands, compared to its average volume of 374,182. The business has a 50 day moving average of $492.64 and a two-hundred day moving average of $486.72. The company has a quick ratio of 3.77, a current ratio of 4.01 and a debt-to-equity ratio of 0.56. The stock has a market capitalization 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.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last announced its earnings results on Thursday, February 19th. The biopharmaceutical company reported ($2.57) EPS for the quarter, missing the consensus estimate of $0.04 by ($2.61). Madrigal Pharmaceuticals had a negative return on equity of 43.76% and a negative net margin of 30.08%.The firm had revenue of $321.08 million during the quarter, compared to analyst estimates of $310.36 million. During the same quarter in the previous year, the business earned ($2.71) earnings per share. The business's quarterly revenue was up 210.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on MDGL. Truist Financial lifted their target price on shares of Madrigal Pharmaceuticals from $580.00 to $640.00 and gave the company a "buy" rating in a research note on Wednesday, November 19th. The Goldman Sachs Group restated a "buy" rating and issued a $571.00 price objective on shares of Madrigal Pharmaceuticals in a research note on Wednesday, January 14th. Barclays started coverage on Madrigal Pharmaceuticals in a research note on Tuesday, January 27th. They set an "overweight" rating and a $964.00 target price for the company. Citigroup restated an "outperform" rating on shares of Madrigal Pharmaceuticals in a research report on Tuesday, January 20th. Finally, Wolfe Research set a $579.00 target price on Madrigal Pharmaceuticals in a research note on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $685.31.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the stock. AlphaQuest LLC lifted its position in shares of Madrigal Pharmaceuticals by 412.5% in the second quarter. AlphaQuest LLC now owns 82 shares of the biopharmaceutical company's stock worth $25,000 after purchasing an additional 66 shares in the last quarter. Flagship Harbor Advisors LLC bought a new position in shares of Madrigal Pharmaceuticals in the fourth quarter valued at $29,000. Mather Group LLC. acquired a new position in Madrigal Pharmaceuticals during the third quarter worth $33,000. Global Retirement Partners LLC increased its holdings in Madrigal Pharmaceuticals by 221.7% during the third quarter. Global Retirement Partners LLC now owns 74 shares of the biopharmaceutical company's stock worth $34,000 after buying an additional 51 shares during the last quarter. Finally, First Horizon Corp bought a new stake in Madrigal Pharmaceuticals during the third quarter worth $34,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.