David Soergel Sells 1,042 Shares of Madrigal Pharmaceuticals (NASDAQ:MDGL) Stock

by · The Cerbat Gem

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL – Get Free Report) insider David Soergel sold 1,042 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $495.74, for a total transaction of $516,561.08. Following the completion of the sale, the insider directly owned 10,033 shares in the company, valued at approximately $4,973,759.42. This represents a 9.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

David Soergel also recently made the following trade(s):

  • On Monday, May 18th, David Soergel sold 844 shares of Madrigal Pharmaceuticals stock. The stock was sold at an average price of $515.90, for a total transaction of $435,419.60.

Madrigal Pharmaceuticals Stock Down 3.2%

NASDAQ MDGL traded down $16.04 on Monday, hitting $481.23. 234,014 shares of the company were exchanged, compared to its average volume of 289,858. The company has a market cap of $11.10 billion, a PE ratio of -37.60 and a beta of -1.07. Madrigal Pharmaceuticals, Inc. has a 12 month low of $268.69 and a 12 month high of $615.00. The stock has a fifty day moving average of $514.40 and a 200-day moving average of $515.10. The company has a current ratio of 3.50, a quick ratio of 3.16 and a debt-to-equity ratio of 0.63.

Madrigal Pharmaceuticals (NASDAQ:MDGL – Get Free Report) last issued its earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($3.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.61) by $0.36. The business had revenue of $311.34 million for the quarter, compared to analyst estimates of $301.05 million. Madrigal Pharmaceuticals had a negative net margin of 27.32% and a negative return on equity of 50.15%. Madrigal Pharmaceuticals’s revenue was up 126.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($3.32) earnings per share. As a group, analysts forecast that Madrigal Pharmaceuticals, Inc. will post -7.23 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. HC Wainwright reissued a “buy” rating and set a $620.00 target price on shares of Madrigal Pharmaceuticals in a research note on Wednesday, May 6th. Truist Financial upped their price objective on shares of Madrigal Pharmaceuticals from $640.00 to $709.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a report on Tuesday, April 21st. Citigroup restated a “market outperform” rating on shares of Madrigal Pharmaceuticals in a report on Monday. Finally, Wells Fargo & Company upgraded shares of Madrigal Pharmaceuticals to an “overweight” rating in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Madrigal Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $687.00.

Read Our Latest Report on MDGL

Institutional Trading of Madrigal Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in MDGL. Baker BROS. Advisors LP boosted its position in Madrigal Pharmaceuticals by 8.4% during the third quarter. Baker BROS. Advisors LP now owns 2,141,701 shares of the biopharmaceutical company’s stock worth $982,313,000 after purchasing an additional 165,683 shares during the period. Iron Triangle Partners LP bought a new position in Madrigal Pharmaceuticals during the third quarter worth about $26,776,000. Toth Financial Advisory Corp bought a new position in Madrigal Pharmaceuticals during the fourth quarter worth about $1,165,000. WCM Investment Management LLC bought a new position in Madrigal Pharmaceuticals during the third quarter worth about $8,105,000. Finally, Peak Financial Advisors LLC boosted its position in Madrigal Pharmaceuticals by 287.0% during the fourth quarter. Peak Financial Advisors LLC now owns 4,466 shares of the biopharmaceutical company’s stock worth $2,601,000 after purchasing an additional 3,312 shares during the period. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Company Profile

(Get Free Report)

Madrigal Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the development of innovative therapies for cardiovascular, metabolic and liver diseases. The company’s pipeline centers on novel, liver-directed agents designed to address significant unmet medical needs, with an emphasis on nonalcoholic steatohepatitis (NASH) and related metabolic disorders.

The lead product candidate, resmetirom (MGL-3196), is an orally administered, selective thyroid hormone receptor-β agonist in Phase 3 development for the treatment of NASH.

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