Madrigal Pharmaceuticals (NASDAQ:MDGL) Trading Down 3.3%

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Get Free Report) shares dropped 3.3% on Wednesday . The company traded as low as $225.22 and last traded at $225.22. Approximately 43,731 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 525,723 shares. The stock had previously closed at $232.98.

Wall Street Analysts Forecast Growth

A number of analysts have commented on MDGL shares. Oppenheimer boosted their target price on Madrigal Pharmaceuticals from $320.00 to $375.00 and gave the stock an "outperform" rating in a research report on Friday, March 15th. JMP Securities increased their price target on shares of Madrigal Pharmaceuticals from $351.00 to $397.00 and gave the company an "outperform" rating in a research report on Friday, March 15th. Canaccord Genuity Group lifted their price objective on Madrigal Pharmaceuticals from $338.00 to $377.00 and gave the stock a "buy" rating in a research report on Friday, March 15th. StockNews.com upgraded Madrigal Pharmaceuticals to a "sell" rating in a report on Friday, April 12th. Finally, Piper Sandler reissued an "overweight" rating and set a $336.00 price target on shares of Madrigal Pharmaceuticals in a research report on Thursday, March 14th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Madrigal Pharmaceuticals currently has an average rating of "Moderate Buy" and an average target price of $377.40.

Madrigal Pharmaceuticals Trading Down 2.0 %

The stock has a market capitalization of $4.54 billion, a price-to-earnings ratio of -11.40 and a beta of -0.47. The company has a current ratio of 5.38, a quick ratio of 5.38 and a debt-to-equity ratio of 0.28. The business has a 50 day simple moving average of $242.43 and a 200-day simple moving average of $209.22.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last posted its earnings results 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 last year, the business posted ($4.98) EPS. On average, equities analysts predict that Madrigal Pharmaceuticals, Inc. will post -21.48 earnings per share for the current year.

Insider Buying and Selling at Madrigal Pharmaceuticals

In related news, CMO Rebecca Taub sold 2,676 shares of Madrigal Pharmaceuticals stock in a transaction on Monday, April 8th. The shares were sold at an average price of $245.99, for a total transaction of $658,269.24. Following the sale, the chief marketing officer now owns 458,999 shares of the company's stock, valued at approximately $112,909,164.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Madrigal Pharmaceuticals news, CMO Rebecca Taub sold 2,676 shares of the firm's stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $245.99, for a total transaction of $658,269.24. Following the completion of the sale, the chief marketing officer now owns 458,999 shares in the company, valued at approximately $112,909,164.01. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Richard S. Levy sold 11,000 shares of the company'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 value of $2,832,280.00. Following the completion of the transaction, the director now directly owns 10,298 shares in the company, valued at $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 90 days. 23.92% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its stake in Madrigal Pharmaceuticals by 2.9% in the first quarter. JPMorgan Chase & Co. now owns 35,674 shares of the biopharmaceutical company's stock worth $3,500,000 after purchasing an additional 1,017 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Madrigal Pharmaceuticals by 4.0% in 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. raised its position in shares of Madrigal Pharmaceuticals by 13.6% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 8,350 shares of the biopharmaceutical company's stock valued at $819,000 after acquiring an additional 1,000 shares in the last quarter. MetLife Investment Management LLC lifted its stake in Madrigal Pharmaceuticals by 58.6% during the first quarter. MetLife Investment Management LLC now owns 6,682 shares of the biopharmaceutical company's stock worth $656,000 after purchasing an additional 2,468 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in Madrigal Pharmaceuticals by 3.8% during the first quarter. Rhumbline Advisers now owns 12,393 shares of the biopharmaceutical company's stock worth $1,216,000 after purchasing an additional 451 shares during the last quarter. 98.50% of the stock is currently owned by institutional investors.

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.