Madrigal Pharmaceuticals (NASDAQ:MDGL) Stock Price Down 6.4% – Time to Sell?

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) shares fell 6.4% during mid-day trading on Tuesday . The stock traded as low as $553.00 and last traded at $550.7370. 113,716 shares were traded during trading, a decline of 53% from the average session volume of 240,300 shares. The stock had previously closed at $588.40.

Wall Street Analysts Forecast Growth

MDGL has been the topic of a number of recent analyst reports. Wolfe Research set a $579.00 price target on Madrigal Pharmaceuticals in a research note on Tuesday. Canaccord Genuity Group increased their target price on Madrigal Pharmaceuticals from $526.00 to $587.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Truist Financial raised their price target on Madrigal Pharmaceuticals from $580.00 to $640.00 and gave the stock a “buy” rating in a research note on Wednesday, November 19th. UBS Group set a $900.00 price target on Madrigal Pharmaceuticals in a report on Friday, December 19th. Finally, Citigroup reiterated an “outperform” rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $620.62.

Madrigal Pharmaceuticals Trading Down 0.9%

The business has a fifty day moving average price of $553.31 and a 200 day moving average price of $441.53. The company has a market capitalization of $12.63 billion, a PE ratio of -42.75, a P/E/G ratio of 3.95 and a beta of -1.00. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.26 and a current ratio of 3.44.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its earnings results on Tuesday, November 4th. The biopharmaceutical company reported ($5.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.01) by ($3.07). Madrigal Pharmaceuticals had a negative return on equity of 41.50% and a negative net margin of 39.04%. Analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current fiscal year.

Insider Activity at Madrigal Pharmaceuticals

In related news, insider Carole Huntsman sold 1,958 shares of the stock in a transaction on Friday, November 21st. The stock was sold at an average price of $553.11, for a total value of $1,082,989.38. Following the completion of the sale, the insider directly owned 10,032 shares in the company, valued at approximately $5,548,799.52. This represents a 16.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paul A. Friedman sold 24,800 shares of the firm’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $552.18, for a total value of $13,694,064.00. Following the completion of the transaction, the director directly owned 187,164 shares in the company, valued at $103,348,217.52. This trade represents a 11.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 77,056 shares of company stock valued at $41,324,312 over the last quarter. Company insiders own 21.50% of the company’s stock.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of MDGL. AlphaQuest LLC grew its position in Madrigal Pharmaceuticals by 412.5% in the second quarter. AlphaQuest LLC now owns 82 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 66 shares in the last quarter. Mather Group LLC. purchased a new position in shares of Madrigal Pharmaceuticals in the third quarter valued at $33,000. Global Retirement Partners LLC grew its holdings in Madrigal Pharmaceuticals by 221.7% during the 3rd quarter. Global Retirement Partners LLC now owns 74 shares of the biopharmaceutical company’s stock valued at $34,000 after purchasing an additional 51 shares in the last quarter. First Horizon Corp acquired a new stake in Madrigal Pharmaceuticals during the 3rd quarter valued at $34,000. Finally, Aventura Private Wealth LLC purchased a new stake in Madrigal Pharmaceuticals during the 4th quarter worth $36,000. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Company Profile

Madrigal Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the development of innovative therapies for cardiovascular, metabolic and liver diseases. The company’s pipeline centers on novel, liver-directed agents designed to address significant unmet medical needs, with an emphasis on nonalcoholic steatohepatitis (NASH) and related metabolic disorders.

The lead product candidate, resmetirom (MGL-3196), is an orally administered, selective thyroid hormone receptor-β agonist in Phase 3 development for the treatment of NASH.