Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Get Free Report) fell 6.8% during mid-day trading on Monday after an insider sold shares in the company. The stock traded as low as $322.44 and last traded at $317.97. 109,233 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 422,250 shares. The stock had previously closed at $341.27.
Specifically, Director James M. Daly sold 15,470 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $347.45, for a total value of $5,375,051.50. Following the transaction, the director now directly owns 1,912 shares of the company's stock, valued at $664,324.40. This trade represents a 89.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Wall Street Analysts Forecast Growth
Several equities research analysts recently commented on MDGL shares. Citigroup upped their price target on shares of Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. B. Riley raised Madrigal Pharmaceuticals from a "hold" rating to a "strong-buy" rating and raised their target price for the stock from $236.00 to $422.00 in a research report on Thursday, February 27th. HC Wainwright increased their price objective on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. JMP Securities reaffirmed a "market outperform" rating and set a $427.00 target price on shares of Madrigal Pharmaceuticals in a research note on Friday, January 10th. Finally, Cantor Fitzgerald reissued a "neutral" rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, November 20th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $375.75.
Read Our Latest Stock Report on Madrigal Pharmaceuticals
Madrigal Pharmaceuticals Price Performance
The company has a debt-to-equity ratio of 0.15, a current ratio of 5.98 and a quick ratio of 5.93. The stock has a market capitalization of $7.26 billion, a price-to-earnings ratio of -13.11 and a beta of -0.38. The stock's 50 day simple moving average is $323.87 and its 200-day simple moving average is $286.73.
Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) earnings per share (EPS) for the quarter, beating the consensus estimate of ($4.32) by $1.61. The business had revenue of $103.32 million during the quarter, compared to analyst estimates of $97.81 million. On average, analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current fiscal year.
Institutional Trading of Madrigal Pharmaceuticals
Several large investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC raised its stake 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 valued at $45,000 after acquiring an additional 68 shares in the last quarter. Kohmann Bosshard Financial Services LLC acquired a new position in Madrigal Pharmaceuticals during the fourth quarter valued at approximately $70,000. Quest Partners LLC raised its position 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 valued at $123,000 after purchasing an additional 368 shares during the period. GF Fund Management CO. LTD. acquired a new stake in shares of Madrigal Pharmaceuticals in the fourth quarter worth $141,000. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Madrigal Pharmaceuticals in the fourth quarter worth $164,000. Institutional investors own 98.50% of the company's stock.
About Madrigal Pharmaceuticals
(
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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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