Insider Selling: Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) CFO Sells 10,099 Shares of Stock

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Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) CFO Marc R. Schneebaum sold 10,099 shares of the business’s stock in a transaction dated Monday, June 11th. The shares were sold at an average price of $287.46, for a total transaction of $2,903,058.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Shares of MDGL opened at $285.35 on Friday. Madrigal Pharmaceuticals Inc has a 1-year low of $14.16 and a 1-year high of $325.98. The stock has a market cap of $4.30 billion, a PE ratio of -112.34 and a beta of 1.82.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings results on Tuesday, May 8th. The biopharmaceutical company reported ($0.45) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.78) by $0.33. sell-side analysts forecast that Madrigal Pharmaceuticals Inc will post -2.58 earnings per share for the current fiscal year.

MDGL has been the topic of a number of analyst reports. Cowen restated a “buy” rating on shares of Madrigal Pharmaceuticals in a research report on Friday, April 13th. ValuEngine upgraded shares of Madrigal Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Goldman Sachs Group began coverage on shares of Madrigal Pharmaceuticals in a research note on Friday, March 23rd. They set a “buy” rating and a $191.00 target price on the stock. BidaskClub lowered shares of Madrigal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 16th. Finally, HC Wainwright lifted their target price on shares of Madrigal Pharmaceuticals to $178.00 and gave the company a “buy” rating in a research note on Thursday, May 24th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $291.43.

Several hedge funds have recently modified their holdings of the company. Citadel Advisors LLC purchased a new stake in shares of Madrigal Pharmaceuticals during the 4th quarter worth approximately $35,002,000. Rock Springs Capital Management LP increased its stake in shares of Madrigal Pharmaceuticals by 24.4% during the 4th quarter. Rock Springs Capital Management LP now owns 342,000 shares of the biopharmaceutical company’s stock worth $31,392,000 after purchasing an additional 67,000 shares during the last quarter. BlackRock Inc. increased its stake in shares of Madrigal Pharmaceuticals by 52.4% during the 1st quarter. BlackRock Inc. now owns 319,093 shares of the biopharmaceutical company’s stock worth $37,268,000 after purchasing an additional 109,665 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Madrigal Pharmaceuticals by 303.9% in the 4th quarter. Victory Capital Management Inc. now owns 204,206 shares of the biopharmaceutical company’s stock worth $18,744,000 after buying an additional 153,650 shares during the period. Finally, Perceptive Advisors LLC bought a new position in Madrigal Pharmaceuticals in the 4th quarter worth approximately $17,338,000. Institutional investors own 44.25% of the company’s stock.

About Madrigal Pharmaceuticals

Madrigal Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of therapeutic candidates for the treatment of cardiovascular, metabolic, and liver diseases. The company's lead candidate is MGL-3196, an orally administered, small-molecule, liver-directed, thyroid hormone receptor (THR) ß-selective agonist, which is in Phase II clinical trials for the treatment of non-alcoholic steatohepatitis and heterozygous familial hypercholesterolemia.

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