Carole Huntsman Sells 1,958 Shares of Madrigal Pharmaceuticals (NASDAQ:MDGL) Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) insider Carole Huntsman sold 1,958 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $553.11, for a total value of $1,082,989.38. Following the completion of the transaction, the insider directly owned 10,032 shares of the company’s stock, valued at approximately $5,548,799.52. This represents a 16.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Madrigal Pharmaceuticals Stock Performance

Shares of MDGL stock traded up $5.84 during trading hours on Friday, hitting $547.96. 567,191 shares of the company were exchanged, compared to its average volume of 373,026. The company has a current ratio of 5.11, a quick ratio of 4.78 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $12.44 billion, a price-to-earnings ratio of -42.64 and a beta of -1.04. Madrigal Pharmaceuticals, Inc. has a 52-week low of $265.00 and a 52-week high of $577.90. The firm has a fifty day simple moving average of $456.96 and a 200 day simple moving average of $372.65.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its earnings results on Tuesday, November 4th. The biopharmaceutical company reported ($5.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.01) by ($3.07). Madrigal Pharmaceuticals had a negative net margin of 54.68% and a negative return on equity of 38.38%. Research analysts predict that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MDGL. B. Riley upped their price target on shares of Madrigal Pharmaceuticals from $460.00 to $560.00 and gave the company a “buy” rating in a research report on Monday, September 29th. Citigroup reaffirmed an “outperform” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, November 5th. HC Wainwright boosted their price objective on shares of Madrigal Pharmaceuticals from $568.00 to $620.00 and gave the company a “buy” rating in a research report on Friday. Citizens Jmp raised their target price on Madrigal Pharmaceuticals from $485.00 to $527.00 and gave the company a “market outperform” rating in a research note on Wednesday, November 5th. Finally, Truist Financial lifted their target price on Madrigal Pharmaceuticals from $580.00 to $640.00 and gave the stock a “buy” rating in a report on Wednesday. Thirteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $553.50.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in MDGL. Accent Capital Management LLC purchased a new stake in Madrigal Pharmaceuticals during the first quarter worth $25,000. AlphaQuest LLC boosted its stake in shares of Madrigal Pharmaceuticals by 412.5% in the second quarter. AlphaQuest LLC now owns 82 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 66 shares during the last quarter. Summit Securities Group LLC purchased a new stake in shares of Madrigal Pharmaceuticals during the first quarter worth $33,000. Mather Group LLC. acquired a new stake in Madrigal Pharmaceuticals in the 3rd quarter valued at about $33,000. Finally, Global Retirement Partners LLC lifted its position in Madrigal Pharmaceuticals by 221.7% during the third quarter. Global Retirement Partners LLC now owns 74 shares of the biopharmaceutical company’s stock worth $34,000 after buying an additional 51 shares in the last quarter. 98.50% of the stock is owned by hedge funds and other 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.