Insider Selling: Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) VP Sells $120,847.22 in Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) VP Robert E. Waltermire sold 442 shares of the stock in a transaction on Friday, January 17th. The shares were sold at an average price of $273.41, for a total value of $120,847.22. Following the completion of the sale, the vice president now owns 5,058 shares in the company, valued at approximately $1,382,907.78. This trade represents a 8.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Madrigal Pharmaceuticals Stock Up 7.6 %

MDGL stock opened at $293.64 on Monday. The company has a quick ratio of 5.93, a current ratio of 5.98 and a debt-to-equity ratio of 0.15. The company has a market cap of $6.40 billion, a PE ratio of -11.71 and a beta of -0.36. The business has a 50-day simple moving average of $314.19 and a 200 day simple moving average of $272.70. Madrigal Pharmaceuticals, Inc. has a 52 week low of $168.25 and a 52 week high of $368.29.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share for the quarter, topping the consensus estimate of ($6.94) by $2.02. The business had revenue of $62.18 million for the quarter, compared to the consensus estimate of $34.60 million. During the same quarter in the previous year, the company earned ($5.34) earnings per share. Sell-side analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.77 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MDGL has been the subject of a number of research reports. B. Riley raised their target price on shares of Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. HC Wainwright boosted their price objective on Madrigal Pharmaceuticals from $390.00 to $400.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Oppenheimer lowered their target price on Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. StockNews.com upgraded Madrigal Pharmaceuticals to a “sell” rating in a research note on Saturday, October 12th. Finally, JMP Securities reiterated a “market outperform” rating and set a $427.00 price objective on shares of Madrigal Pharmaceuticals in a research report on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $351.67.

Institutional Trading of Madrigal Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of MDGL. Nisa Investment Advisors LLC raised its stake in Madrigal Pharmaceuticals by 47.6% during the third quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock worth $45,000 after acquiring an additional 68 shares in the last quarter. Quest Partners LLC increased its position in 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 purchasing an additional 209 shares in the last quarter. Centaurus Financial Inc. acquired a new position in Madrigal Pharmaceuticals during the 2nd quarter worth approximately $163,000. Amalgamated Bank lifted its stake in Madrigal Pharmaceuticals by 20.2% in the 2nd quarter. Amalgamated Bank now owns 607 shares of the biopharmaceutical company’s stock valued at $170,000 after purchasing an additional 102 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in Madrigal Pharmaceuticals in the second quarter valued at approximately $204,000. 98.50% of the stock is currently owned by 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.