Madrigal Pharmaceuticals (NASDAQ:MDGL) Stock Price Down 5.8% – Here’s What Happened

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)’s share price traded down 5.8% during mid-day trading on Wednesday . The stock traded as low as $319.40 and last traded at $319.40. 193,017 shares changed hands during mid-day trading, a decline of 56% from the average session volume of 440,956 shares. The stock had previously closed at $339.04.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Citigroup lowered their price objective on shares of Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. StockNews.com raised Madrigal Pharmaceuticals to a “sell” rating in a report on Saturday, October 12th. B. Riley lifted their price target on Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Madrigal Pharmaceuticals in a research report on Friday, October 11th. Finally, HC Wainwright restated a “buy” rating and set a $390.00 target price on shares of Madrigal Pharmaceuticals in a research report on Tuesday, October 22nd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $347.33.

Madrigal Pharmaceuticals Price Performance

The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15. The firm has a market cap of $6.90 billion, a P/E ratio of -12.54 and a beta of -0.46. The company has a fifty day moving average price of $238.36 and a two-hundred day moving average price of $248.35.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) EPS for the quarter, beating the consensus estimate of ($6.94) by $2.02. The firm had revenue of $62.18 million during the quarter, compared to the consensus estimate of $34.60 million. During the same quarter in the previous year, the firm posted ($5.34) EPS. Equities analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -24.08 earnings per share for the current year.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other news, Director Richard S. Levy sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $300.94, for a total transaction of $1,504,700.00. Following the sale, the director now owns 11,012 shares in the company, valued at $3,313,951.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Richard S. Levy sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $300.94, for a total transaction of $1,504,700.00. Following the sale, the director now owns 11,012 shares in the company, valued at $3,313,951.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO William John Sibold sold 6,363 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $243.83, for a total value of $1,551,490.29. Following the sale, the chief executive officer now owns 55,887 shares in the company, valued at approximately $13,626,927.21. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 22.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MDGL. First Horizon Advisors Inc. increased its holdings in shares of Madrigal Pharmaceuticals by 1,633.3% during the 2nd quarter. First Horizon Advisors Inc. now owns 104 shares of the biopharmaceutical company’s stock worth $29,000 after acquiring an additional 98 shares during the last quarter. EntryPoint Capital LLC acquired a new position in shares of Madrigal Pharmaceuticals during the 1st quarter worth approximately $41,000. Signaturefd LLC increased its holdings in shares of Madrigal Pharmaceuticals by 36.8% during the 2nd quarter. Signaturefd LLC now owns 145 shares of the biopharmaceutical company’s stock worth $41,000 after acquiring an additional 39 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Madrigal Pharmaceuticals by 47.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock worth $45,000 after acquiring an additional 68 shares during the last quarter. Finally, Quest Partners LLC increased its holdings in shares of Madrigal Pharmaceuticals by 5,225.0% during the 2nd quarter. Quest Partners LLC now owns 213 shares of the biopharmaceutical company’s stock worth $60,000 after acquiring an additional 209 shares during the last quarter. 98.50% of the stock is owned by institutional investors and hedge funds.

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.