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 Madrigal Pharmaceuticals stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $350.30, for a total transaction of $1,191,020.00. Following the sale, the director now owns 14,600 shares of the company’s stock, valued at $5,114,380. The trade was a 18.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Madrigal Pharmaceuticals Stock Performance

Shares of NASDAQ MDGL traded down $5.16 during midday trading on Wednesday, reaching $331.58. 269,295 shares of the stock were exchanged, compared to its average volume of 443,022. 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 firm has a 50-day simple moving average of $256.67 and a two-hundred day simple moving average of $256.86. Madrigal Pharmaceuticals, Inc. has a twelve month low of $168.25 and a twelve month high of $368.29.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) EPS for the quarter, beating analysts’ consensus estimates of ($6.94) by $2.02. The business had revenue of $62.18 million for the quarter, compared to analyst estimates of $34.60 million. During the same quarter last year, the business earned ($5.34) earnings per share. As a group, sell-side analysts predict that Madrigal Pharmaceuticals, Inc. will post -24.08 earnings per share for the current year.

Analysts Set New Price Targets

MDGL has been the subject of a number of research reports. Oppenheimer lowered their price target on Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. StockNews.com upgraded Madrigal Pharmaceuticals to a “sell” rating in a report on Saturday, October 12th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, November 20th. Citigroup reduced their price target on shares of Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Finally, B. Riley increased their price objective on shares of Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Madrigal Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $347.33.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in MDGL. 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 worth $320,000 after acquiring an additional 31 shares during the period. Signaturefd LLC lifted its stake in Madrigal Pharmaceuticals by 36.8% in the 2nd quarter. Signaturefd LLC now owns 145 shares of the biopharmaceutical company’s stock valued at $41,000 after buying an additional 39 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Madrigal Pharmaceuticals by 1.8% in the 3rd quarter. Victory Capital Management Inc. now owns 2,292 shares of the biopharmaceutical company’s stock worth $486,000 after buying an additional 40 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Madrigal Pharmaceuticals by 47.6% during the third quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock valued at $45,000 after acquiring an additional 68 shares during the last quarter. Finally, 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 valued at $700,000 after acquiring an additional 87 shares in the last quarter. Hedge funds and other institutional investors 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.