Madrigal Pharmaceuticals (NASDAQ:MDGL) Stock Price Down 3.3%

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)’s share price traded down 3.3% during trading on Wednesday . The company traded as low as $225.22 and last traded at $225.22. 43,731 shares traded hands during trading, a decline of 92% from the average session volume of 525,723 shares. The stock had previously closed at $232.98.

Wall Street Analyst Weigh In

MDGL has been the subject of several analyst reports. Piper Sandler reaffirmed an “overweight” rating and issued a $336.00 price objective on shares of Madrigal Pharmaceuticals in a report on Thursday, March 14th. Oppenheimer upped their price objective on shares of Madrigal Pharmaceuticals from $320.00 to $375.00 and gave the stock an “outperform” rating in a research report on Friday, March 15th. Evercore ISI raised their target price on shares of Madrigal Pharmaceuticals from $325.00 to $405.00 and gave the company an “outperform” rating in a report on Wednesday, March 20th. UBS Group upped their price target on shares of Madrigal Pharmaceuticals from $337.00 to $410.00 and gave the stock a “buy” rating in a report on Friday, March 15th. Finally, StockNews.com raised shares of Madrigal Pharmaceuticals to a “sell” rating in a research note on Friday, April 12th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $377.40.

Madrigal Pharmaceuticals Trading Down 2.5 %

The business’s 50 day simple moving average is $242.43 and its two-hundred day simple moving average is $209.22. The stock has a market cap of $4.52 billion, a P/E ratio of -11.36 and a beta of -0.47. The company has a quick ratio of 5.38, a current ratio of 5.38 and a debt-to-equity ratio of 0.28.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings data on Wednesday, February 28th. The biopharmaceutical company reported ($5.68) earnings per share for the quarter, missing the consensus estimate of ($5.26) by ($0.42). During the same quarter in the prior year, the business earned ($4.98) earnings per share. As a group, analysts expect that Madrigal Pharmaceuticals, Inc. will post -21.48 EPS for the current year.

Insider Activity

In other Madrigal Pharmaceuticals news, Director Richard S. Levy sold 11,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $257.48, for a total transaction of $2,832,280.00. Following the sale, the director now directly owns 10,298 shares of the company’s stock, valued at approximately $2,651,529.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Madrigal Pharmaceuticals news, Director James M. Daly sold 32,489 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $102.77, for a total transaction of $3,338,894.53. Following the completion of the sale, the director now owns 1,198 shares of the company’s stock, valued at approximately $123,118.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard S. Levy sold 11,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $257.48, for a total transaction of $2,832,280.00. Following the completion of the transaction, the director now owns 10,298 shares in the company, valued at approximately $2,651,529.04. The disclosure for this sale can be found here. Insiders sold 146,496 shares of company stock valued at $31,362,420 over the last quarter. 23.92% of the stock is owned by company insiders.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

Several large investors have recently modified their holdings of MDGL. Montag A & Associates Inc. grew its holdings in Madrigal Pharmaceuticals by 223.3% during the 3rd quarter. Montag A & Associates Inc. now owns 194 shares of the biopharmaceutical company’s stock worth $28,000 after acquiring an additional 134 shares during the period. Global Retirement Partners LLC grew its stake in Madrigal Pharmaceuticals by 454.5% during the fourth quarter. Global Retirement Partners LLC now owns 122 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 100 shares during the period. Russell Investments Group Ltd. bought a new stake in Madrigal Pharmaceuticals in the first quarter worth approximately $55,000. KBC Group NV bought a new stake in Madrigal Pharmaceuticals in the fourth quarter worth approximately $60,000. Finally, China Universal Asset Management Co. Ltd. lifted its stake in Madrigal Pharmaceuticals by 95.0% in the third quarter. China Universal Asset Management Co. Ltd. now owns 468 shares of the biopharmaceutical company’s stock valued at $68,000 after buying an additional 228 shares during the period. 98.50% of the stock is currently owned by institutional investors and hedge funds.

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.