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

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Director Fred B. Craves sold 3,400 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $350.30, for a total value of $1,191,020.00. Following the completion of the transaction, the director now directly 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 filing with the Securities & Exchange Commission, which is available through the SEC website.

Madrigal Pharmaceuticals Trading Down 1.6 %

Shares of MDGL stock opened at $331.45 on Thursday. The stock has a 50-day moving average of $258.63 and a 200-day moving average of $257.38. 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 stock has a market cap of $7.23 billion, a price-to-earnings ratio of -13.22 and a beta of -0.46. Madrigal Pharmaceuticals, Inc. has a 1-year low of $168.25 and a 1-year high of $368.29.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly 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 firm had revenue of $62.18 million during the quarter, compared to analyst estimates of $34.60 million. During the same quarter last year, the firm posted ($5.34) EPS. On average, equities research analysts forecast that Madrigal Pharmaceuticals, Inc. will post -24.08 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on MDGL. UBS Group upped their target price on Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Oppenheimer dropped their target price on shares of Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Citigroup lowered their price objective on shares of Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. StockNews.com upgraded shares of Madrigal Pharmaceuticals to a “sell” rating in a research report on Saturday, October 12th. Finally, HC Wainwright reiterated a “buy” rating and set a $390.00 price target on shares of Madrigal Pharmaceuticals in a report on Tuesday, October 22nd. 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, the company presently has an average rating of “Moderate Buy” and an average price target of $347.33.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the company. Franklin Resources Inc. grew its holdings in Madrigal Pharmaceuticals by 8.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,383 shares of the biopharmaceutical company’s stock worth $298,000 after acquiring an additional 103 shares during the period. Sanctuary Advisors LLC boosted its position in shares of Madrigal Pharmaceuticals by 12.7% during the 3rd 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% during the 3rd quarter. Geode Capital Management LLC now owns 405,655 shares of the biopharmaceutical company’s stock valued at $86,104,000 after purchasing an additional 5,801 shares in the last quarter. Barclays PLC grew its stake in Madrigal Pharmaceuticals by 159.9% during the third quarter. Barclays PLC now owns 40,279 shares of the biopharmaceutical company’s stock worth $8,549,000 after purchasing an additional 24,783 shares during the period. Finally, Groupama Asset Managment increased its holdings in Madrigal Pharmaceuticals by 8.1% in the third quarter. Groupama Asset Managment now owns 12,837 shares of the biopharmaceutical company’s stock worth $2,724,000 after purchasing an additional 963 shares in the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

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.