Insider Selling: Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) VP Sells 103 Shares of Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Get Free Report) VP Robert E. Waltermire sold 103 shares of the business's stock in a transaction on 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 sale, the vice president now directly owns 4,955 shares in the company, valued at approximately $1,661,114.20. This represents a 2.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Madrigal Pharmaceuticals Trading Down 5.2 %

Shares of MDGL traded down $17.22 during trading hours on Monday, hitting $310.92. 558,393 shares of the stock traded hands, compared to its average volume of 502,950. The business has a fifty day moving average of $314.37 and a 200-day moving average of $273.95. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $6.78 billion, a PE ratio of -12.40 and a beta of -0.36. Madrigal Pharmaceuticals, Inc. has a 1-year low of $168.25 and a 1-year high of $368.29.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last released its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($6.94) by $2.02. The business had revenue of $62.18 million for the quarter, compared to analyst estimates of $34.60 million. During the same quarter in the previous year, the company posted ($5.34) earnings per share. Analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.55 EPS for the current year.

Institutional Trading of Madrigal Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in MDGL. Envestnet Asset Management Inc. grew its stake in shares of Madrigal Pharmaceuticals by 198.8% during the second quarter. Envestnet Asset Management Inc. now owns 14,454 shares of the biopharmaceutical company's stock worth $4,049,000 after purchasing an additional 9,616 shares during the period. Amalgamated Bank boosted its holdings in Madrigal Pharmaceuticals by 20.2% during the second quarter. Amalgamated Bank now owns 607 shares of the biopharmaceutical company's stock worth $170,000 after buying an additional 102 shares during the last quarter. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Madrigal Pharmaceuticals during the 2nd quarter worth about $204,000. Xponance Inc. increased its stake in shares of Madrigal Pharmaceuticals by 25.1% in the 2nd quarter. Xponance Inc. now owns 1,117 shares of the biopharmaceutical company's stock valued at $313,000 after acquiring an additional 224 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Madrigal Pharmaceuticals in the 2nd quarter valued at approximately $476,000. Institutional investors own 98.50% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on MDGL shares. Oppenheimer reduced their target price on shares of Madrigal Pharmaceuticals from $375.00 to $350.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 23rd. UBS Group boosted their price target on shares of Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a "buy" rating in a research report on Friday, November 1st. JMP Securities reaffirmed a "market outperform" rating and set a $427.00 price objective on shares of Madrigal Pharmaceuticals in a report on Friday, January 10th. Cantor Fitzgerald reissued a "neutral" rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, November 20th. Finally, StockNews.com upgraded Madrigal Pharmaceuticals to a "sell" rating in a research report on Saturday, October 12th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $351.67.

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.

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