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

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

Analyst Upgrades and Downgrades

MDGL has been the subject of several recent analyst reports. JMP Securities upped their price objective on shares of Madrigal Pharmaceuticals from $351.00 to $397.00 and gave the company an “outperform” rating in a research note on Friday, March 15th. Citigroup increased their price objective on Madrigal Pharmaceuticals from $382.00 to $389.00 and gave the stock a “buy” rating in a report on Friday, March 15th. Evercore ISI boosted their target price on Madrigal Pharmaceuticals from $325.00 to $405.00 and gave the company an “outperform” rating in a research note on Wednesday, March 20th. Piper Sandler reaffirmed an “overweight” rating and issued a $336.00 price target on shares of Madrigal Pharmaceuticals in a research note on Thursday, March 14th. Finally, Canaccord Genuity Group boosted their price objective on shares of Madrigal Pharmaceuticals from $338.00 to $377.00 and gave the company a “buy” rating in a research report on Friday, March 15th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $377.40.

Madrigal Pharmaceuticals Stock Performance

The company has a 50 day moving average of $242.43 and a two-hundred day moving average of $209.22. The company has a debt-to-equity ratio of 0.28, a current ratio of 5.38 and a quick ratio of 5.38. The company has a market capitalization of $4.52 billion, a PE ratio of -11.36 and a beta of -0.47.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($5.68) earnings per share for the quarter, missing analysts’ consensus estimates of ($5.26) by ($0.42). During the same period in the previous year, the firm earned ($4.98) EPS. As a group, equities research analysts predict that Madrigal Pharmaceuticals, Inc. will post -21.48 earnings per share for the current year.

Insider Activity at Madrigal Pharmaceuticals

In other news, Director Richard S. Levy sold 11,000 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $257.48, for a total value of $2,832,280.00. Following the sale, the director now directly owns 10,298 shares of the company’s stock, valued at $2,651,529.04. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Paul A. Friedman sold 18,710 shares of the stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $242.96, for a total transaction of $4,545,781.60. Following the sale, the director now owns 185,735 shares in the company, valued at $45,126,175.60. The transaction was disclosed in a filing with the SEC, which is available at this link. 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 of the company’s stock, valued at $2,651,529.04. The disclosure for this sale can be found here. Insiders sold a total of 146,496 shares of company stock valued at $31,362,420 in the last 90 days. Corporate insiders own 23.92% of the company’s stock.

Institutional Trading of Madrigal Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of MDGL. JPMorgan Chase & Co. boosted its position in shares of Madrigal Pharmaceuticals by 2.9% during the first quarter. JPMorgan Chase & Co. now owns 35,674 shares of the biopharmaceutical company’s stock valued at $3,500,000 after buying an additional 1,017 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Madrigal Pharmaceuticals by 4.0% during the 1st quarter. Bank of New York Mellon Corp now owns 36,127 shares of the biopharmaceutical company’s stock valued at $3,545,000 after acquiring an additional 1,383 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of Madrigal Pharmaceuticals by 13.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 8,350 shares of the biopharmaceutical company’s stock worth $819,000 after acquiring an additional 1,000 shares during the period. MetLife Investment Management LLC grew its stake in shares of Madrigal Pharmaceuticals by 58.6% in the first quarter. MetLife Investment Management LLC now owns 6,682 shares of the biopharmaceutical company’s stock worth $656,000 after acquiring an additional 2,468 shares during the period. Finally, Rhumbline Advisers raised its holdings in shares of Madrigal Pharmaceuticals by 3.8% during the first quarter. Rhumbline Advisers now owns 12,393 shares of the biopharmaceutical company’s stock valued at $1,216,000 after purchasing an additional 451 shares during the last quarter. Institutional investors own 98.50% of the company’s stock.

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.