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

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) VP Robert E. Waltermire sold 1,227 shares of the company’s 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 completion of the transaction, the vice president now directly owns 3,728 shares of the company’s stock, valued at approximately $1,271,508.96. This trade represents a 24.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Madrigal Pharmaceuticals Stock Performance

NASDAQ MDGL opened at $347.28 on Thursday. Madrigal Pharmaceuticals, Inc. has a 1-year low of $189.00 and a 1-year high of $377.46. The company has a 50 day moving average of $323.87 and a 200-day moving average of $286.73. 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 cap of $7.67 billion, a price-to-earnings ratio of -13.85 and a beta of -0.38.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings results 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 business had revenue of $103.32 million for the quarter, compared to analyst estimates of $97.81 million. On average, equities analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

Institutional Trading of Madrigal Pharmaceuticals

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

Analyst Ratings Changes

A number of research firms have recently issued reports on MDGL. HC Wainwright boosted their price objective on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Citigroup boosted their price target on shares of Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, November 20th. JMP Securities reissued a “market outperform” rating and issued a $427.00 target price on shares of Madrigal Pharmaceuticals in a research note on Friday, January 10th. Finally, B. Riley upgraded shares of Madrigal Pharmaceuticals from a “hold” rating to a “strong-buy” rating and raised their price target for the stock from $236.00 to $422.00 in a research note on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, one has given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Madrigal Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target 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.