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

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) VP Robert E. Waltermire sold 1,227 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $341.07, for a total transaction of $418,492.89. Following the transaction, the vice president now owns 3,728 shares in the company, 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 Price Performance

Shares of NASDAQ MDGL opened at $321.32 on Wednesday. The stock has a market capitalization of $7.09 billion, a price-to-earnings ratio of -12.81 and a beta of -0.38. Madrigal Pharmaceuticals, Inc. has a 12 month low of $189.00 and a 12 month high of $377.46. The firm’s 50 day simple moving average is $323.17 and its 200-day simple moving average is $286.30. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.98 and a quick ratio of 5.93.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its earnings results on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) earnings per share (EPS) 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 analysts’ expectations of $97.81 million. Analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current year.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Paulson & CO. Inc. lifted its position in shares of Madrigal Pharmaceuticals by 10.4% during the 3rd quarter. Paulson & CO. Inc. now owns 2,042,000 shares of the biopharmaceutical company’s stock valued at $433,353,000 after buying an additional 192,000 shares in the last quarter. RTW Investments LP lifted its position in shares of Madrigal Pharmaceuticals by 4.1% during the 3rd quarter. RTW Investments LP now owns 1,993,687 shares of the biopharmaceutical company’s stock valued at $423,100,000 after buying an additional 77,825 shares in the last quarter. State Street Corp lifted its position in shares of Madrigal Pharmaceuticals by 19.2% during the 3rd quarter. State Street Corp now owns 887,752 shares of the biopharmaceutical company’s stock valued at $188,399,000 after buying an additional 143,038 shares in the last quarter. FMR LLC lifted its position in shares of Madrigal Pharmaceuticals by 10.8% during the 4th quarter. FMR LLC now owns 867,850 shares of the biopharmaceutical company’s stock valued at $267,792,000 after buying an additional 84,305 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Madrigal Pharmaceuticals by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 410,578 shares of the biopharmaceutical company’s stock valued at $126,719,000 after purchasing an additional 4,923 shares in the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

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.