Shannon Kelley Sells 664 Shares of Madrigal Pharmaceuticals (NASDAQ:MDGL) Stock

Key Points

• General Counsel Shannon Kelley sold 664 Madrigal Pharmaceuticals shares at an average price of $514.97, totaling approximately $341,940. The sale covered tax-withholding obligations tied to vested equity awards, reducing Kelley’s stake by 5.47% to 11,474 shares.
• MDGL shares fell 3.9% to $519.09, while the company reported quarterly revenue of $364.25 million—up 71.2% year over year—and an adjusted loss of $1.99 per share, better than analysts’ expectations.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $689.93; institutional investors own approximately 98.5% of the stock.

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Get Free Report) General Counsel Shannon Kelley sold 664 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $514.97, for a total value of $341,940.08. Following the completion of the sale, the general counsel directly owned 11,474 shares in the company, valued at $5,908,765.78. This represents a 5.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Madrigal Pharmaceuticals Stock Down 3.9%

Shares of Madrigal Pharmaceuticals stock traded down $21.07 on Thursday, reaching $519.09. 264,369 shares of the company were exchanged, compared to its average volume of 352,486. Madrigal Pharmaceuticals, Inc. has a 1-year low of $392.96 and a 1-year high of $615.00. The company has a market cap of $11.99 billion, a P/E ratio of -40.27 and a beta of -1.01. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.20 and a quick ratio of 2.94. The stock's 50 day moving average price is $522.79 and its 200-day moving average price is $500.70.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last released its earnings results on Thursday, July 30th. The biopharmaceutical company reported ($1.99) earnings per share for the quarter, topping analysts' consensus estimates of ($2.68) by $0.69. Madrigal Pharmaceuticals had a negative net margin of 25.32% and a negative return on equity of 56.65%. The firm had revenue of $364.25 million for the quarter, compared to analyst estimates of $352.13 million. During the same period in the prior year, the firm earned ($1.90) earnings per share. The business's quarterly revenue was up 71.2% compared to the same quarter last year. As a group, equities analysts forecast that Madrigal Pharmaceuticals, Inc. will post -7.03 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of MDGL. Persistent Asset Partners Ltd acquired a new stake in shares of Madrigal Pharmaceuticals during the second quarter worth about $29,000. Global Retirement Partners LLC acquired a new stake in shares of Madrigal Pharmaceuticals in the 2nd quarter valued at about $34,000. Kemnay Advisory Services Inc. purchased a new position in Madrigal Pharmaceuticals during the 4th quarter worth approximately $39,000. Quarry LP purchased a new position in Madrigal Pharmaceuticals during the 3rd quarter worth approximately $39,000. Finally, Accent Capital Management LLC increased 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 worth $55,000 after buying an additional 37 shares during the period. 98.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on MDGL. Bank of America decreased their price objective on shares of Madrigal Pharmaceuticals from $550.00 to $542.00 and set a "neutral" rating for the company in a research report on Thursday, June 11th. Wells Fargo & Company started coverage on Madrigal Pharmaceuticals in a research note on Monday, July 27th. They issued an "overweight" rating and a $685.00 price target on the stock. Truist Financial upped their price objective on Madrigal Pharmaceuticals from $640.00 to $709.00 and gave the stock a "buy" rating in a research report on Wednesday, May 13th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Madrigal Pharmaceuticals in a report on Friday, July 17th. Finally, Wolfe Research raised Madrigal Pharmaceuticals from a "peer perform" rating to an "outperform" rating and set a $605.00 target price on the stock in a research report on Tuesday, August 4th. Fifteen research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $689.93.

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.

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