Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) VP Sells $4,817,049.16 in Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) VP Robert E. Waltermire sold 14,113 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $341.32, for a total value of $4,817,049.16. Following the completion of the transaction, the vice president now directly owns 3,728 shares of the company’s stock, valued at $1,272,440.96. This represents a 79.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Madrigal Pharmaceuticals Stock Performance

MDGL stock opened at $331.41 on Monday. The stock has a market capitalization of $7.32 billion, a PE ratio of -13.21 and a beta of -0.41. The stock’s 50 day simple moving average is $324.53 and its 200 day simple moving average is $287.96. Madrigal Pharmaceuticals, Inc. has a 12-month low of $189.00 and a 12-month high of $377.46. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings data on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) EPS for the quarter, beating the consensus estimate of ($4.32) by $1.61. The business had revenue of $103.32 million for the quarter, compared to analysts’ expectations of $97.81 million. As a group, research analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. HC Wainwright upped their price target on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. B. Riley raised shares of Madrigal Pharmaceuticals from a “hold” rating to a “strong-buy” rating and upped their target price for the stock from $236.00 to $422.00 in a research report on Thursday, February 27th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, November 20th. JMP Securities reissued a “market outperform” rating and set a $427.00 price objective on shares of Madrigal Pharmaceuticals in a research note on Friday, January 10th. Finally, Citigroup raised their target price on shares of Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $375.75.

Institutional Trading of Madrigal Pharmaceuticals

Institutional investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC lifted its position in 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 purchasing an additional 68 shares during the period. Kohmann Bosshard Financial Services LLC bought a new stake in Madrigal Pharmaceuticals in the 4th quarter worth approximately $70,000. Quest Partners LLC raised its stake in Madrigal Pharmaceuticals by 172.8% during the 3rd quarter. Quest Partners LLC now owns 581 shares of the biopharmaceutical company’s stock valued at $123,000 after buying an additional 368 shares during the last quarter. GF Fund Management CO. LTD. bought a new position in shares of Madrigal Pharmaceuticals during the 4th quarter valued at $141,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Madrigal Pharmaceuticals in the 4th quarter worth $164,000. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Company Profile

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.