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

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) General Counsel Shannon T. Kelley sold 277 shares of the firm’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 in the company, valued at $2,106,624.05. The trade was a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Madrigal Pharmaceuticals Price Performance

MDGL opened at $293.64 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.98 and a quick ratio of 5.93. The business has a fifty day simple moving average of $314.19 and a 200-day simple moving average of $272.68. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $168.25 and a fifty-two week high of $368.29.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share for the quarter, beating analysts’ consensus estimates of ($6.94) by $2.02. The company had revenue of $62.18 million during the quarter, compared to analyst estimates of $34.60 million. During the same quarter last year, the business earned ($5.34) EPS. On average, equities analysts predict that Madrigal Pharmaceuticals, Inc. will post -23.77 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Oppenheimer Asset Management Inc. raised its position in Madrigal Pharmaceuticals by 2.1% during the third quarter. Oppenheimer Asset Management Inc. now owns 1,507 shares of the biopharmaceutical company’s stock valued at $320,000 after buying an additional 31 shares during the period. Victory Capital Management Inc. grew its stake in Madrigal Pharmaceuticals by 1.8% during the 3rd quarter. Victory Capital Management Inc. now owns 2,292 shares of the biopharmaceutical company’s stock valued at $486,000 after acquiring an additional 40 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Madrigal Pharmaceuticals by 47.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock valued at $45,000 after purchasing an additional 68 shares during the period. Creative Planning lifted its position in shares of Madrigal Pharmaceuticals by 2.7% in the third quarter. Creative Planning now owns 3,299 shares of the biopharmaceutical company’s stock worth $700,000 after purchasing an additional 87 shares in the last quarter. Finally, Verity Asset Management Inc. boosted its holdings in shares of Madrigal Pharmaceuticals by 7.4% during the third quarter. Verity Asset Management Inc. now owns 1,466 shares of the biopharmaceutical company’s stock worth $311,000 after purchasing an additional 101 shares during the period. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on MDGL shares. Cantor Fitzgerald reiterated a “neutral” rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, November 20th. HC Wainwright lifted their price target on Madrigal Pharmaceuticals from $390.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday. UBS Group increased their price objective on Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the stock a “buy” rating in a report on Friday, November 1st. B. Riley lifted their target price on Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Finally, Oppenheimer decreased their price target on Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Madrigal Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $351.67.

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.