Insider Selling: Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Director Sells 15,470 Shares of Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Get Free Report) Director James M. Daly sold 15,470 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $347.45, for a total transaction of $5,375,051.50. Following the transaction, the director now directly owns 1,912 shares of the company's stock, valued at approximately $664,324.40. This trade represents a 89.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Madrigal Pharmaceuticals Price Performance

MDGL traded up $7.85 on Tuesday, hitting $321.32. 679,498 shares of the company's stock were exchanged, compared to its average volume of 439,286. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $189.00 and a fifty-two week high of $377.46. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15. The firm has a 50-day moving average price of $323.17 and a 200-day moving average price of $286.30. The stock has a market cap of $7.09 billion, a price-to-earnings ratio of -12.81 and a beta of -0.38.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) earnings per share for the quarter, beating the consensus estimate of ($4.32) by $1.61. The firm had revenue of $103.32 million for the quarter, compared to analyst estimates of $97.81 million. As a group, equities analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current year.

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Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Nisa Investment Advisors LLC boosted its position in shares of Madrigal Pharmaceuticals by 47.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company's stock valued at $45,000 after acquiring an additional 68 shares during the last quarter. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Madrigal Pharmaceuticals during the 4th quarter valued at about $70,000. Quest Partners LLC boosted its position in shares of Madrigal Pharmaceuticals by 172.8% during the 3rd quarter. Quest Partners LLC now owns 581 shares of the biopharmaceutical company's stock valued at $123,000 after acquiring an additional 368 shares during the last quarter. GF Fund Management CO. LTD. acquired a new position in shares of Madrigal Pharmaceuticals during the 4th quarter valued at about $141,000. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Madrigal Pharmaceuticals during the 4th quarter valued at about $164,000. Institutional investors and hedge funds own 98.50% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on MDGL. HC Wainwright lifted their target price on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the company a "buy" rating in a report on Thursday, February 27th. Citigroup lifted their target price on shares of Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a "buy" rating in a report on Thursday, February 27th. JMP Securities reaffirmed a "market outperform" rating and set a $427.00 target price on shares of Madrigal Pharmaceuticals in a report on Friday, January 10th. Cantor Fitzgerald reaffirmed a "neutral" rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, November 20th. Finally, B. Riley raised shares of Madrigal Pharmaceuticals from a "hold" rating to a "strong-buy" rating and lifted their target price for the company from $236.00 to $422.00 in a report on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Madrigal Pharmaceuticals currently has an average rating of "Moderate Buy" and an average target price of $375.75.

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.