William John Sibold Sells 7,279 Shares of Madrigal Pharmaceuticals (NASDAQ:MDGL) 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 the stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 102,474 shares in the company, valued at $45,665,488.62. This represents a 6.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 stock was sold at an average price of $400.18, for a total value of $3,047,770.88.

Madrigal Pharmaceuticals Stock Down 1.1%

NASDAQ MDGL traded down $5.07 during trading hours on Tuesday, reaching $448.73. 324,287 shares of the company's stock were exchanged, compared to its average volume of 409,654. The company's 50-day moving average is $356.02 and its two-hundred day moving average is $324.53. Madrigal Pharmaceuticals, Inc. has a one year low of $200.63 and a one year high of $457.16. The company has a debt-to-equity ratio of 0.17, a quick ratio of 4.78 and a current ratio of 5.11. The company has a market capitalization of $9.96 billion, a price-to-earnings ratio of -34.92 and a beta of -1.02.

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

Hedge Funds Weigh In On Madrigal Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in MDGL. VSM Wealth Advisory LLC acquired a new stake in Madrigal Pharmaceuticals during the 1st quarter valued at $25,000. Accent Capital Management LLC acquired a new stake in Madrigal Pharmaceuticals during the 1st quarter valued at $25,000. AlphaQuest LLC lifted its holdings in Madrigal Pharmaceuticals by 412.5% during the 2nd quarter. AlphaQuest LLC now owns 82 shares of the biopharmaceutical company's stock valued at $25,000 after purchasing an additional 66 shares during the last quarter. Summit Securities Group LLC acquired a new stake in Madrigal Pharmaceuticals during the 1st quarter valued at $33,000. Finally, Farther Finance Advisors LLC lifted its holdings in Madrigal Pharmaceuticals by 825.0% during the 1st quarter. Farther Finance Advisors LLC now owns 111 shares of the biopharmaceutical company's stock valued at $36,000 after purchasing an additional 99 shares during the last quarter. 98.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

MDGL has been the subject of a number of research reports. JMP Securities increased their target price on Madrigal Pharmaceuticals from $483.00 to $485.00 and gave the stock a "market outperform" rating in a research note on Wednesday, August 20th. Cowen reissued a "buy" rating on shares of Madrigal Pharmaceuticals in a research note on Tuesday, August 26th. UBS Group reaffirmed a "buy" rating and set a $523.00 price target (up from $458.00) on shares of Madrigal Pharmaceuticals in a research note on Tuesday, August 12th. Canaccord Genuity Group raised their price target on shares of Madrigal Pharmaceuticals from $420.00 to $428.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Finally, HC Wainwright began coverage on shares of Madrigal Pharmaceuticals in a research note on Thursday, September 4th. They set a "buy" rating and a $500.00 price target for the company. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, Madrigal Pharmaceuticals has an average rating of "Moderate Buy" and a consensus target price of $471.13.

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.

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