Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) VP Sells $4,817,049.16 in Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) VP Robert E. Waltermire sold 14,113 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $341.32, for a total transaction of $4,817,049.16. Following the sale, the vice president now owns 3,728 shares of the company’s stock, valued at approximately $1,272,440.96. The trade was a 79.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Madrigal Pharmaceuticals Stock Performance

NASDAQ:MDGL opened at $331.41 on Monday. 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 fifty-two week low of $189.00 and a fifty-two week high of $377.46. The firm has a market cap of $7.32 billion, a PE ratio of -13.21 and a beta of -0.41. The business has a 50 day moving average price of $324.53 and a 200-day moving average price of $287.96.

Madrigal Pharmaceuticals (NASDAQ:MDGL) 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 firm had revenue of $103.32 million for the quarter, compared to analysts’ expectations of $97.81 million. Equities research analysts predict that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current year.

Institutional Trading of Madrigal Pharmaceuticals

Institutional investors have recently modified their holdings of the company. GF Fund Management CO. LTD. purchased a new position in Madrigal Pharmaceuticals during the 4th quarter valued at about $141,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Madrigal Pharmaceuticals by 23.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 27,538 shares of the biopharmaceutical company’s stock worth $8,497,000 after buying an additional 5,182 shares during the last quarter. Woodline Partners LP grew its position in shares of Madrigal Pharmaceuticals by 110.2% in the 4th quarter. Woodline Partners LP now owns 309,117 shares of the biopharmaceutical company’s stock worth $95,384,000 after buying an additional 162,027 shares during the last quarter. Vestal Point Capital LP increased its stake in shares of Madrigal Pharmaceuticals by 216.7% during the fourth quarter. Vestal Point Capital LP now owns 95,000 shares of the biopharmaceutical company’s stock valued at $29,314,000 after buying an additional 65,000 shares during the period. Finally, Soleus Capital Management L.P. bought a new position in shares of Madrigal Pharmaceuticals during the fourth quarter valued at approximately $3,363,000. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. B. Riley upgraded shares of Madrigal Pharmaceuticals from a “hold” rating to a “strong-buy” rating and raised their price objective for the company from $236.00 to $422.00 in a research report on Thursday, February 27th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, November 20th. JMP Securities reiterated a “market outperform” rating and set a $427.00 price objective on shares of Madrigal Pharmaceuticals in a research report on Friday, January 10th. Citigroup raised their price objective on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Finally, HC Wainwright upped their target price on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Two 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 company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average 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.