Madrigal Pharmaceuticals (NASDAQ:MDGL) CFO Sells $853,984.34 in Stock

Key Points

• CFO Mardi Dier sold 1,982 shares on March 6 at an average price of $430.87 for a total of $853,984.34, reducing her stake by 13.7% to 12,490 shares valued at about $5.38 million.
• Madrigal reported a major earnings miss with GAAP EPS of -$2.57 vs. a $0.04 consensus, while revenue of $321.08 million beat estimates and rose 210.8% year-over-year.
• The stock traded down about 1.5% to $432.83 (market cap ~$9.93B) amid heavy volume, but analysts remain bullish with an average price target of $685.31 and several firms setting targets well above $700.

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Get Free Report) CFO Mardi Dier sold 1,982 shares of the firm's stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $430.87, for a total value of $853,984.34. Following the transaction, the chief financial officer owned 12,490 shares of the company's stock, valued at $5,381,566.30. This trade represents a 13.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Mardi Dier also recently made the following trade(s):

• On Monday, March 2nd, Mardi Dier sold 1,183 shares of Madrigal Pharmaceuticals stock. The shares were sold at an average price of $427.21, for a total transaction of $505,389.43.

Madrigal Pharmaceuticals Trading Down 1.5%

Madrigal Pharmaceuticals stock traded down $6.51 during mid-day trading on Friday, hitting $432.83. 440,127 shares of the stock were exchanged, compared to its average volume of 374,182. 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 12 month low of $265.00 and a 12 month high of $615.00. 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 firm's fifty day simple moving average is $492.64 and its two-hundred day simple moving average is $486.72.

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

Institutional Investors Weigh In On Madrigal Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in MDGL. Eastern Bank boosted 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 purchasing an additional 21 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in 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 worth $1,349,000 after acquiring an additional 30 shares during the period. Centaurus Financial Inc. boosted its position in Madrigal Pharmaceuticals by 5.0% in the third quarter. Centaurus Financial Inc. now owns 709 shares of the biopharmaceutical company's stock worth $325,000 after purchasing an additional 34 shares during the last quarter. Farther Finance Advisors LLC grew its stake in Madrigal Pharmaceuticals by 34.6% in the 4th quarter. Farther Finance Advisors LLC now owns 140 shares of the biopharmaceutical company's stock valued at $82,000 after purchasing an additional 36 shares during the period. Finally, Accent Capital Management LLC grew its position in Madrigal Pharmaceuticals by 64.9% during the fourth quarter. Accent Capital Management LLC now owns 94 shares of the biopharmaceutical company's stock valued at $55,000 after buying an additional 37 shares during the period. 98.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Citigroup restated an "outperform" rating on shares of Madrigal Pharmaceuticals in a research report on Tuesday, January 20th. Citizens Jmp increased their price target on Madrigal Pharmaceuticals from $527.00 to $745.00 and gave the stock a "market outperform" rating in a report on Tuesday, January 20th. Barclays assumed coverage on shares of Madrigal Pharmaceuticals in a research report on Tuesday, January 27th. They set an "overweight" rating and a $964.00 price objective for the company. Piper Sandler boosted their target price on shares of Madrigal Pharmaceuticals from $540.00 to $900.00 and gave the company an "overweight" rating in a research report on Friday, December 19th. Finally, Canaccord Genuity Group raised their price target on shares of Madrigal Pharmaceuticals from $526.00 to $587.00 and gave the stock a "buy" rating in a report on Thursday, November 13th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Madrigal Pharmaceuticals has an average rating of "Moderate Buy" and an average price target of $685.31.

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.

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