Insider Selling: Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Director Sells 1,400 Shares of Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Get Free Report) Director Paul A. Friedman sold 1,400 shares of Madrigal Pharmaceuticals stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $350.03, for a total value of $490,042.00. Following the transaction, the director owned 187,164 shares of the company's stock, valued at $65,513,014.92. This trade represents a 0.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Madrigal Pharmaceuticals Stock Performance

Shares of NASDAQ:MDGL traded down $0.77 during trading on Friday, hitting $298.40. 300,049 shares of the company were exchanged, compared to its average volume of 337,214. The company has a debt-to-equity ratio of 0.17, a current ratio of 5.91 and a quick ratio of 5.58. Madrigal Pharmaceuticals, Inc. has a 52-week low of $200.63 and a 52-week high of $377.46. The company has a market cap of $6.62 billion, a PE ratio of -16.53 and a beta of -1.05. The stock has a 50 day moving average of $293.62 and a 200 day moving average of $312.02.

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

Institutional Investors Weigh In On Madrigal Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the business. Adage Capital Partners GP L.L.C. raised its position in Madrigal Pharmaceuticals by 860.0% during the first quarter. Adage Capital Partners GP L.L.C. now owns 191,609 shares of the biopharmaceutical company's stock valued at $63,467,000 after purchasing an additional 171,649 shares in the last quarter. Woodline Partners LP raised its position in Madrigal Pharmaceuticals by 110.2% during the fourth quarter. Woodline Partners LP now owns 309,117 shares of the biopharmaceutical company's stock valued at $95,384,000 after purchasing an additional 162,027 shares in the last quarter. Hood River Capital Management LLC purchased a new stake in Madrigal Pharmaceuticals during the fourth quarter valued at about $39,447,000. Renaissance Technologies LLC raised its position in Madrigal Pharmaceuticals by 261.3% during the fourth quarter. Renaissance Technologies LLC now owns 160,782 shares of the biopharmaceutical company's stock valued at $49,613,000 after purchasing an additional 116,285 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Madrigal Pharmaceuticals during the fourth quarter valued at about $35,514,000. Hedge funds and other institutional investors own 98.50% of the company's stock.

Analyst Ratings Changes

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