Madrigal Pharmaceuticals (NASDAQ:MDGL) Trading Down 6.8% on Insider Selling

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)’s stock price fell 6.8% during mid-day trading on Monday after an insider sold shares in the company. The company traded as low as $322.44 and last traded at $317.97. 109,233 shares were traded 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 the stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $347.45, for a total transaction of $5,375,051.50. Following the completion of the sale, the director now directly owns 1,912 shares in the company, valued at approximately $664,324.40. This trade represents a 89.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Analyst Ratings Changes

Several brokerages have recently commented on MDGL. Citigroup raised their target price on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. HC Wainwright raised their target price on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. B. Riley upgraded Madrigal Pharmaceuticals from a “hold” rating to a “strong-buy” rating and raised their target price for the company from $236.00 to $422.00 in a research note on Thursday, February 27th. JMP Securities restated 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, Cantor Fitzgerald restated a “neutral” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, November 20th. Two analysts have rated the stock with a sell rating, one has given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $375.75.

Madrigal Pharmaceuticals Stock Performance

The company’s 50-day simple moving average is $322.98 and its 200 day simple moving average is $285.80. 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 stock has a market cap of $6.84 billion, a P/E ratio of -12.50 and a beta of -0.38.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its earnings results on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) EPS for the quarter, topping the consensus estimate of ($4.32) by $1.61. The firm had revenue of $103.32 million for the quarter, compared to the consensus estimate of $97.81 million. As a group, sell-side analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current fiscal year.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

Hedge funds have recently modified their holdings of the company. Nisa Investment Advisors LLC lifted its position in shares of 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 during the 4th quarter worth approximately $70,000. Quest Partners LLC lifted its position in shares of Madrigal Pharmaceuticals by 172.8% during the 3rd quarter. Quest Partners LLC now owns 581 shares of the biopharmaceutical company’s stock worth $123,000 after buying an additional 368 shares in the last quarter. GF Fund Management CO. LTD. bought a new stake in shares of Madrigal Pharmaceuticals in the 4th quarter worth approximately $141,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Madrigal Pharmaceuticals in the 4th quarter worth approximately $164,000. 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.