Insider Selling: Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) VP Sells 14,113 Shares of Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) VP Robert E. Waltermire sold 14,113 shares of the company’s 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 transaction, the vice president now directly owns 3,728 shares in the company, valued at approximately $1,272,440.96. This trade represents a 79.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Madrigal Pharmaceuticals Price Performance

Shares of MDGL traded up $2.64 during trading hours on Friday, hitting $331.41. 419,416 shares of the stock were exchanged, compared to its average volume of 440,970. The company has a market cap of $7.32 billion, a price-to-earnings ratio of -13.21 and a beta of -0.38. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.93 and a current ratio of 5.98. Madrigal Pharmaceuticals, Inc. has a 12-month low of $189.00 and a 12-month high of $377.46. The stock’s 50-day moving average price is $324.17 and its two-hundred day moving average price is $287.02.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings data on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) earnings per share for the quarter, beating analysts’ consensus estimates of ($4.32) by $1.61. The firm had revenue of $103.32 million during the quarter, compared to analysts’ expectations of $97.81 million. Research analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC increased its position in shares of Madrigal Pharmaceuticals by 47.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock worth $45,000 after purchasing an additional 68 shares during the last quarter. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Madrigal Pharmaceuticals during the 4th quarter worth $70,000. Quest Partners LLC lifted its stake in shares of Madrigal Pharmaceuticals by 172.8% in the third quarter. Quest Partners LLC now owns 581 shares of the biopharmaceutical company’s stock worth $123,000 after buying an additional 368 shares during the last quarter. GF Fund Management CO. LTD. acquired a new stake in Madrigal Pharmaceuticals in the 4th quarter valued at approximately $141,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in Madrigal Pharmaceuticals during the fourth quarter worth $164,000. 98.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MDGL has been the topic of a number of recent analyst reports. 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. JMP Securities reissued a “market outperform” rating and issued a $427.00 price objective on shares of Madrigal Pharmaceuticals in a research note on Friday, January 10th. HC Wainwright raised their target price on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. B. Riley upgraded Madrigal Pharmaceuticals from a “hold” rating to a “strong-buy” rating and boosted their target price for the company from $236.00 to $422.00 in a research report on Thursday, February 27th. Finally, Cantor Fitzgerald restated a “neutral” rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, November 20th. 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 issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $375.75.

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.