Madrigal Pharmaceuticals (NASDAQ:MDGL) CEO Sells $3,243,740.77 in Stock

Key Points

• William John Sibold, CEO of Madrigal Pharmaceuticals (NASDAQ:MDGL), sold 7,279 shares at an average price of $445.63, totaling over $3.24 million, reducing his ownership stake by 6.63%.
• Madrigal Pharmaceuticals reported a record revenue of $212.80 million for the latest quarter, significantly exceeding analysts' expectations of $158.94 million.
• Several hedge funds have recently increased their stakes in Madrigal Pharmaceuticals, indicating strong institutional interest in the company with approximately 98.5% of shares owned by institutional investors.

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Get Free Report) CEO William John Sibold sold 7,279 shares of Madrigal Pharmaceuticals stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $445.63, for a total transaction of $3,243,740.77. Following the transaction, the chief executive officer owned 102,474 shares in the company, valued at approximately $45,665,488.62. This trade represents a 6.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Thursday, August 21st, William John Sibold sold 7,616 shares of Madrigal Pharmaceuticals stock. The shares were sold at an average price of $400.18, for a total transaction of $3,047,770.88.

Madrigal Pharmaceuticals Price Performance

Shares of MDGL traded down $7.23 during trading hours on Friday, reaching $432.22. 190,643 shares of the stock traded hands, compared to its average volume of 374,030. The company has a current ratio of 5.11, a quick ratio of 4.78 and a debt-to-equity ratio of 0.17. Madrigal Pharmaceuticals, Inc. has a 52-week low of $200.63 and a 52-week high of $457.16. The company's 50-day moving average price is $364.11 and its two-hundred day moving average price is $326.71. The company has a market cap of $9.60 billion, a P/E ratio of -33.64 and a beta of -1.02.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last released its earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($1.90) earnings per share for the quarter, beating analysts' consensus estimates of ($3.48) by $1.58. The company had revenue of $212.80 million for the quarter, compared to analysts' expectations of $158.94 million. Madrigal Pharmaceuticals had a negative net margin of 54.68% and a negative return on equity of 38.38%. Madrigal Pharmaceuticals's revenue for the quarter was up 1357.5% on a year-over-year basis. During the same quarter in the previous year, the company earned ($7.10) EPS. On average, analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MDGL. Cowen reiterated a "buy" rating on shares of Madrigal Pharmaceuticals in a research note on Tuesday, August 26th. Canaccord Genuity Group boosted their price target on shares of Madrigal Pharmaceuticals from $428.00 to $526.00 and gave the stock a "buy" rating in a research note on Friday. HC Wainwright began coverage on shares of Madrigal Pharmaceuticals in a research note on Thursday, September 4th. They issued a "buy" rating and a $500.00 price target on the stock. JMP Securities boosted their price target on shares of Madrigal Pharmaceuticals from $483.00 to $485.00 and gave the stock a "market outperform" rating in a research note on Wednesday, August 20th. Finally, TD Cowen boosted their price target on shares of Madrigal Pharmaceuticals from $390.00 to $554.00 and gave the stock a "buy" rating in a research note on Tuesday, August 26th. Nine investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, Madrigal Pharmaceuticals has a consensus rating of "Moderate Buy" and an average target price of $483.38.

Institutional Trading of Madrigal Pharmaceuticals

A number of large investors have recently made changes to their positions in MDGL. Adage Capital Partners GP L.L.C. increased its holdings in shares of Madrigal Pharmaceuticals by 96.3% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 376,163 shares of the biopharmaceutical company's stock worth $113,842,000 after buying an additional 184,554 shares during the last quarter. Norges Bank bought a new position in Madrigal Pharmaceuticals during the 2nd quarter valued at about $53,406,000. Woodline Partners LP grew its holdings in Madrigal Pharmaceuticals by 110.2% during the 4th 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 during the last quarter. MPM Bioimpact LLC bought a new position in Madrigal Pharmaceuticals during the 1st quarter valued at about $33,260,000. Finally, Lord Abbett & CO. LLC grew its holdings in Madrigal Pharmaceuticals by 141.3% during the 1st quarter. Lord Abbett & CO. LLC now owns 118,024 shares of the biopharmaceutical company's stock valued at $39,093,000 after purchasing an additional 69,107 shares during the last quarter. 98.50% of the stock is currently owned by 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.