Fred B. Craves Sells 3,400 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Director Fred B. Craves sold 3,400 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $350.30, for a total transaction of $1,191,020.00. Following the completion of the transaction, the director now owns 14,600 shares of the company’s stock, valued at approximately $5,114,380. This trade represents a 18.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Madrigal Pharmaceuticals Trading Down 1.0 %

Madrigal Pharmaceuticals stock opened at $328.19 on Friday. Madrigal Pharmaceuticals, Inc. has a 1 year low of $168.25 and a 1 year high of $368.29. The firm’s 50 day moving average price is $262.31 and its two-hundred day moving average price is $258.71. The firm has a market cap of $7.16 billion, a price-to-earnings ratio of -13.09 and a beta of -0.46. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.93 and a current ratio of 5.98.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($6.94) by $2.02. The company had revenue of $62.18 million for the quarter, compared to analyst estimates of $34.60 million. During the same period last year, the firm earned ($5.34) earnings per share. On average, research analysts predict that Madrigal Pharmaceuticals, Inc. will post -24.08 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on MDGL. Cantor Fitzgerald reissued a “neutral” rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, November 20th. StockNews.com raised Madrigal Pharmaceuticals to a “sell” rating in a research note on Saturday, October 12th. UBS Group lifted their price objective on shares of Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a “buy” rating in a research note on Friday, November 1st. HC Wainwright reiterated a “buy” rating and issued a $390.00 target price on shares of Madrigal Pharmaceuticals in a research report on Tuesday, October 22nd. Finally, Citigroup dropped their price target on shares of Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $347.33.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in MDGL. Franklin Resources Inc. lifted its position in shares of Madrigal Pharmaceuticals by 8.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,383 shares of the biopharmaceutical company’s stock valued at $298,000 after acquiring an additional 103 shares in the last quarter. Sanctuary Advisors LLC lifted its holdings in shares of Madrigal Pharmaceuticals by 12.7% in the third quarter. Sanctuary Advisors LLC now owns 1,185 shares of the biopharmaceutical company’s stock valued at $251,000 after purchasing an additional 134 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Madrigal Pharmaceuticals by 1.5% in the third quarter. Geode Capital Management LLC now owns 405,655 shares of the biopharmaceutical company’s stock worth $86,104,000 after buying an additional 5,801 shares during the period. Barclays PLC grew its holdings in shares of Madrigal Pharmaceuticals by 159.9% during the third quarter. Barclays PLC now owns 40,279 shares of the biopharmaceutical company’s stock valued at $8,549,000 after buying an additional 24,783 shares in the last quarter. Finally, Groupama Asset Managment raised its position in Madrigal Pharmaceuticals by 8.1% during the third quarter. Groupama Asset Managment now owns 12,837 shares of the biopharmaceutical company’s stock valued at $2,724,000 after buying an additional 963 shares during the period. 98.50% of the stock is currently owned by institutional investors and hedge funds.

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.