Insider Selling: Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) VP Sells 1,227 Shares of Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) VP Robert E. Waltermire sold 1,227 shares of the firm’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $341.07, for a total transaction of $418,492.89. Following the transaction, the vice president now directly owns 3,728 shares in the company, valued at approximately $1,271,508.96. The trade was a 24.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Madrigal Pharmaceuticals Stock Up 2.5 %

Shares of NASDAQ MDGL traded up $7.85 during mid-day trading on Tuesday, reaching $321.32. The company had a trading volume of 679,498 shares, compared to its average volume of 439,286. The stock has a fifty day moving average of $323.17 and a two-hundred day moving average of $286.30. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.93 and a current ratio of 5.98. The company has a market capitalization of $7.09 billion, a price-to-earnings ratio of -12.81 and a beta of -0.38. Madrigal Pharmaceuticals, Inc. has a 12-month low of $189.00 and a 12-month high of $377.46.

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

Analyst Upgrades and Downgrades

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

Institutional Trading of Madrigal Pharmaceuticals

A number of hedge funds have recently made changes to their positions in MDGL. Creative Planning lifted its position in shares of Madrigal Pharmaceuticals by 2.7% in the third quarter. Creative Planning now owns 3,299 shares of the biopharmaceutical company’s stock worth $700,000 after purchasing an additional 87 shares in the last quarter. Nisa Investment Advisors LLC raised 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 acquiring an additional 68 shares in the last quarter. Verity Asset Management Inc. raised its position in Madrigal Pharmaceuticals by 7.4% during the third quarter. Verity Asset Management Inc. now owns 1,466 shares of the biopharmaceutical company’s stock valued at $311,000 after acquiring an additional 101 shares in the last quarter. Assetmark Inc. raised its position in Madrigal Pharmaceuticals by 8.3% during the third quarter. Assetmark Inc. now owns 3,942 shares of the biopharmaceutical company’s stock valued at $837,000 after acquiring an additional 303 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in Madrigal Pharmaceuticals by 1.8% during the third quarter. Victory Capital Management Inc. now owns 2,292 shares of the biopharmaceutical company’s stock valued at $486,000 after acquiring an additional 40 shares in the last quarter. 98.50% of the stock is owned by hedge funds and other institutional investors.

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.