Robert E. Waltermire Sells 103 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) VP Robert E. Waltermire sold 103 shares of the business’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $335.24, for a total value of $34,529.72. Following the completion of the transaction, the vice president now directly owns 4,955 shares of the company’s stock, valued at approximately $1,661,114.20. The trade was a 2.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Madrigal Pharmaceuticals Stock Down 5.2 %

NASDAQ:MDGL traded down $17.22 during trading hours on Monday, hitting $310.92. 558,393 shares of the company traded hands, compared to its average volume of 502,950. The firm’s 50-day simple moving average is $314.37 and its 200-day simple moving average is $273.95. The company has a market cap of $6.78 billion, a PE ratio of -12.40 and a beta of -0.36. The company has a quick ratio of 5.93, a current ratio of 5.98 and a debt-to-equity ratio of 0.15. Madrigal Pharmaceuticals, Inc. has a one year low of $168.25 and a one year 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 (EPS) for the quarter, topping analysts’ consensus estimates of ($6.94) by $2.02. The firm had revenue of $62.18 million during the quarter, compared to analysts’ expectations of $34.60 million. During the same period in the prior year, the business earned ($5.34) earnings per share. Equities analysts predict that Madrigal Pharmaceuticals, Inc. will post -23.55 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently commented on the company. JMP Securities restated a “market outperform” rating and issued a $427.00 price target on shares of Madrigal Pharmaceuticals in a report on Friday, January 10th. Cantor Fitzgerald restated a “neutral” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, November 20th. HC Wainwright raised their price target on shares of Madrigal Pharmaceuticals from $390.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. B. Riley lifted their price objective on shares of Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Finally, StockNews.com upgraded shares of Madrigal Pharmaceuticals to a “sell” rating in a report on Saturday, October 12th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Madrigal Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $351.67.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the business. Erste Asset Management GmbH purchased a new position in shares of Madrigal Pharmaceuticals in the third quarter worth about $49,749,000. Paulson & CO. Inc. boosted its holdings in Madrigal Pharmaceuticals by 10.4% in the 3rd quarter. Paulson & CO. Inc. now owns 2,042,000 shares of the biopharmaceutical company’s stock worth $433,353,000 after buying an additional 192,000 shares during the period. Braidwell LP purchased a new position in Madrigal Pharmaceuticals in the 3rd quarter valued at approximately $39,010,000. State Street Corp raised its holdings in Madrigal Pharmaceuticals by 19.2% during the 3rd quarter. State Street Corp now owns 887,752 shares of the biopharmaceutical company’s stock valued at $188,399,000 after acquiring an additional 143,038 shares during the period. Finally, Point72 Asset Management L.P. raised its holdings in Madrigal Pharmaceuticals by 172.6% during the 2nd quarter. Point72 Asset Management L.P. now owns 40,958 shares of the biopharmaceutical company’s stock valued at $11,475,000 after acquiring an additional 97,387 shares during the period. 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.