Robert E. Waltermire Sells 1,227 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Get Free Report) VP Robert E. Waltermire sold 1,227 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $341.07, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Madrigal Pharmaceuticals Stock Performance

Shares of NASDAQ MDGL traded up $2.64 during mid-day trading on Friday, hitting $331.41. The company had a trading volume of 419,416 shares, compared to its average volume of 440,970. The company has a market capitalization of $7.32 billion, a price-to-earnings ratio of -13.21 and a beta of -0.38. Madrigal Pharmaceuticals, Inc. has a 1 year low of $189.00 and a 1 year high of $377.46. 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 stock's 50-day moving average price is $324.53 and its 200-day moving average price is $287.74.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) earnings per share for the quarter, beating the consensus estimate 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. On average, sell-side analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current year.

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Hedge Funds Weigh In On Madrigal Pharmaceuticals

Hedge funds have recently made changes to their positions in the stock. Paulson & CO. Inc. grew its position in Madrigal Pharmaceuticals by 10.4% during the third 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 in the last quarter. RTW Investments LP grew its position in Madrigal Pharmaceuticals by 4.1% during the third quarter. RTW Investments LP now owns 1,993,687 shares of the biopharmaceutical company's stock worth $423,100,000 after buying an additional 77,825 shares in the last quarter. State Street Corp grew its position in Madrigal Pharmaceuticals by 19.2% during the third quarter. State Street Corp now owns 887,752 shares of the biopharmaceutical company's stock worth $188,399,000 after buying an additional 143,038 shares in the last quarter. FMR LLC grew its position in Madrigal Pharmaceuticals by 10.8% during the fourth quarter. FMR LLC now owns 867,850 shares of the biopharmaceutical company's stock worth $267,792,000 after buying an additional 84,305 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Madrigal Pharmaceuticals by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 410,578 shares of the biopharmaceutical company's stock worth $126,719,000 after buying an additional 4,923 shares in the last quarter. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MDGL. Cantor Fitzgerald reiterated a "neutral" rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, November 20th. B. Riley upgraded Madrigal Pharmaceuticals from a "hold" rating to a "strong-buy" rating and lifted their price target for the stock from $236.00 to $422.00 in a report on Thursday, February 27th. Citigroup lifted their price target on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. JMP Securities reiterated a "market outperform" rating and set a $427.00 price target on shares of Madrigal Pharmaceuticals in a report on Friday, January 10th. Finally, HC Wainwright lifted their price target on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $375.75.

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.