Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) VP Robert E. Waltermire Sells 1,036 Shares of Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) VP Robert E. Waltermire sold 1,036 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $231.34, for a total value of $239,668.24. Following the transaction, the vice president now directly owns 5,500 shares in the company, valued at approximately $1,272,370. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Madrigal Pharmaceuticals Stock Performance

MDGL stock opened at $234.85 on Friday. Madrigal Pharmaceuticals, Inc. has a 1-year low of $119.76 and a 1-year high of $301.00. The company has a current ratio of 9.39, a quick ratio of 9.39 and a debt-to-equity ratio of 0.14. The firm has a market cap of $5.00 billion, a PE ratio of -10.17 and a beta of -0.33. The business’s 50-day moving average price is $232.53 and its two-hundred day moving average price is $223.35.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($7.38) EPS for the quarter, missing analysts’ consensus estimates of ($6.06) by ($1.32). During the same period in the prior year, the business earned ($4.23) earnings per share. As a group, research analysts forecast that Madrigal Pharmaceuticals, Inc. will post -27.62 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. TD Cowen upped their target price on shares of Madrigal Pharmaceuticals from $349.00 to $390.00 and gave the company an “outperform” rating in a research report on Friday, March 15th. HC Wainwright cut their price objective on shares of Madrigal Pharmaceuticals from $425.00 to $390.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. Bank of America started coverage on shares of Madrigal Pharmaceuticals in a research note on Monday, April 22nd. They issued an “underperform” rating and a $150.00 price objective on the stock. Citigroup dropped their target price on shares of Madrigal Pharmaceuticals from $389.00 to $382.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. Finally, Piper Sandler restated an “overweight” rating and issued a $336.00 price target on shares of Madrigal Pharmaceuticals in a research report on Thursday, March 14th. Two analysts have rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $345.09.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Amalgamated Bank raised its holdings in shares of Madrigal Pharmaceuticals by 2.8% during the fourth quarter. Amalgamated Bank now owns 2,119 shares of the biopharmaceutical company’s stock worth $490,000 after acquiring an additional 57 shares during the period. Global Retirement Partners LLC raised its stake in shares of Madrigal Pharmaceuticals by 454.5% in the 4th quarter. Global Retirement Partners LLC now owns 122 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 100 shares during the period. Dana Investment Advisors Inc. lifted its holdings in shares of Madrigal Pharmaceuticals by 4.1% in the fourth quarter. Dana Investment Advisors Inc. now owns 3,171 shares of the biopharmaceutical company’s stock valued at $734,000 after purchasing an additional 124 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Madrigal Pharmaceuticals by 3.3% during the first quarter. Principal Financial Group Inc. now owns 4,002 shares of the biopharmaceutical company’s stock worth $1,069,000 after buying an additional 127 shares during the period. Finally, Montag A & Associates Inc. grew its holdings in shares of Madrigal Pharmaceuticals by 223.3% during the third quarter. Montag A & Associates Inc. now owns 194 shares of the biopharmaceutical company’s stock worth $28,000 after buying an additional 134 shares in the last quarter. 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.