Key Points
- General Counsel Shannon Kelley sold 664 MDGL shares at an average price of $514.97, generating $341,940.08. The sale covered tax-withholding obligations tied to vested equity awards, reducing Kelley’s ownership by 5.47% to 11,474 shares.
- Madrigal reported quarterly revenue of $364.25 million, up 71.2% year over year and above analyst expectations, while its loss of $1.99 per share was narrower than the projected $2.68 loss.
- Institutional investors own 98.5% of the company, and analysts maintain a generally positive outlook: 15 rate MDGL a Buy, two a Hold, and one a Sell, with an average price target of $689.93 versus a recent share price near $519.
Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Get Free Report) General Counsel Shannon Kelley sold 664 shares of the company's stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $514.97, for a total transaction of $341,940.08. Following the completion of the sale, the general counsel directly owned 11,474 shares in the company, valued at $5,908,765.78. This represents a 5.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Madrigal Pharmaceuticals Stock Performance
Shares of MDGL opened at $519.09 on Friday. The company has a quick ratio of 2.94, a current ratio of 3.20 and a debt-to-equity ratio of 0.65. The business's 50 day moving average price is $523.68 and its 200-day moving average price is $500.91. Madrigal Pharmaceuticals, Inc. has a 52 week low of $392.96 and a 52 week high of $615.00. The stock has a market cap of $11.99 billion, a P/E ratio of -40.27 and a beta of -1.01.
Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported ($1.99) earnings per share for the quarter, beating analysts' consensus estimates of ($2.68) by $0.69. Madrigal Pharmaceuticals had a negative return on equity of 56.65% and a negative net margin of 25.32%.The company had revenue of $364.25 million during the quarter, compared to analyst estimates of $352.13 million. During the same quarter last year, the company earned ($1.90) EPS. The firm's revenue for the quarter was up 71.2% on a year-over-year basis. Equities research analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -7.03 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Madrigal Pharmaceuticals
Several hedge funds and other institutional investors have recently made changes to their positions in MDGL. Royal Bank of Canada lifted its holdings in Madrigal Pharmaceuticals by 22.5% during the first quarter. Royal Bank of Canada now owns 12,526 shares of the biopharmaceutical company's stock valued at $6,557,000 after purchasing an additional 2,303 shares in the last quarter. Jefferies Financial Group Inc. purchased a new stake in shares of Madrigal Pharmaceuticals in the fourth quarter worth $1,339,000. Penn Capital Management Company LLC bought a new stake in shares of Madrigal Pharmaceuticals during the 4th quarter valued at $1,719,000. State of Wyoming bought a new stake in shares of Madrigal Pharmaceuticals during the 2nd quarter valued at $1,294,000. Finally, Alkeon Capital Management LLC raised its position in shares of Madrigal Pharmaceuticals by 100.0% during the 4th quarter. Alkeon Capital Management LLC now owns 240,000 shares of the biopharmaceutical company's stock valued at $139,762,000 after purchasing an additional 120,000 shares during the period. Hedge funds and other institutional investors own 98.50% of the company's stock.
Analyst Ratings Changes
A number of research firms have weighed in on MDGL. Truist Financial raised their price objective on shares of Madrigal Pharmaceuticals from $640.00 to $709.00 and gave the company a "buy" rating in a research note on Wednesday, May 13th. Weiss Ratings reissued a "sell (d-)" rating on shares of Madrigal Pharmaceuticals in a research report on Friday, July 17th. Evercore set a $649.00 price objective on shares of Madrigal Pharmaceuticals in a report on Thursday, May 7th. HC Wainwright reaffirmed a "buy" rating on shares of Madrigal Pharmaceuticals in a research report on Friday, July 31st. Finally, UBS Group reiterated a "buy" rating on shares of Madrigal Pharmaceuticals in a research note on Friday, July 31st. Fifteen equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Madrigal Pharmaceuticals presently has an average rating of "Moderate Buy" and an average price target of $689.93.
Read Our Latest Analysis on MDGL
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
