Shannon T. Kelley Sells 277 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Get Free Report) General Counsel Shannon T. Kelley sold 277 shares of the business's stock in a transaction on Friday, January 17th. The shares were sold at an average price of $273.41, for a total value of $75,734.57. Following the completion of the sale, the general counsel now owns 7,705 shares of the company's stock, valued at $2,106,624.05. This trade represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Madrigal Pharmaceuticals Price Performance

Shares of MDGL traded up $20.85 during midday trading on Friday, hitting $293.64. The company's stock had a trading volume of 864,385 shares, compared to its average volume of 489,589. The company has a quick ratio of 5.93, a current ratio of 5.98 and a debt-to-equity ratio of 0.15. Madrigal Pharmaceuticals, Inc. has a one year low of $168.25 and a one year high of $368.29. The stock has a market capitalization of $6.40 billion, a price-to-earnings ratio of -11.71 and a beta of -0.36. The company's fifty day simple moving average is $314.19 and its two-hundred day simple moving average is $272.68.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last released its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($6.94) by $2.02. The business had revenue of $62.18 million during the quarter, compared to the consensus estimate of $34.60 million. During the same quarter in the prior year, the firm earned ($5.34) EPS. As a group, equities analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.77 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MDGL has been the subject of a number of research reports. Cantor Fitzgerald reissued a "neutral" rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, November 20th. B. Riley lifted their price objective on shares of Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 5th. UBS Group increased their target price on shares of Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. StockNews.com upgraded shares of Madrigal Pharmaceuticals to a "sell" rating in a research report on Saturday, October 12th. Finally, HC Wainwright increased their price target on Madrigal Pharmaceuticals from $390.00 to $400.00 and gave the stock a "buy" rating in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Madrigal Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average target price of $351.67.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Erste Asset Management GmbH acquired a new stake in Madrigal Pharmaceuticals in the third quarter valued at approximately $49,749,000. Paulson & CO. Inc. lifted its stake in shares of Madrigal Pharmaceuticals by 10.4% in the 3rd quarter. Paulson & CO. Inc. now owns 2,042,000 shares of the biopharmaceutical company's stock valued at $433,353,000 after acquiring an additional 192,000 shares during the last quarter. Braidwell LP acquired a new stake in shares of Madrigal Pharmaceuticals during the 3rd quarter valued at $39,010,000. State Street Corp grew its position in Madrigal Pharmaceuticals by 19.2% during the 3rd quarter. State Street Corp now owns 887,752 shares of the biopharmaceutical company's stock worth $188,399,000 after acquiring an additional 143,038 shares during the last quarter. Finally, Avoro Capital Advisors LLC increased its holdings in Madrigal Pharmaceuticals by 5.7% in the 2nd quarter. Avoro Capital Advisors LLC now owns 2,055,555 shares of the biopharmaceutical company's stock worth $575,884,000 after purchasing an additional 111,111 shares in the last quarter. 98.50% of the stock is 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.

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