Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL – Get Free Report) was the recipient of a large drop in short interest in the month of June. As of June 15th, there was short interest totalling 4,430,000 shares, a drop of 15.3% from the May 31st total of 5,230,000 shares. Based on an average daily trading volume, of 468,300 shares, the days-to-cover ratio is presently 9.5 days.
Madrigal Pharmaceuticals Trading Down 2.7 %
Shares of NASDAQ MDGL traded down $7.64 during midday trading on Tuesday, reaching $271.67. The stock had a trading volume of 179,625 shares, compared to its average volume of 517,426. The firm has a market cap of $5.79 billion, a price-to-earnings ratio of -11.77 and a beta of -0.42. Madrigal Pharmaceuticals has a twelve month low of $119.76 and a twelve month high of $299.98. The company has a debt-to-equity ratio of 0.14, a quick ratio of 9.39 and a current ratio of 9.39. The company’s 50 day moving average price is $240.80 and its 200 day moving average price is $237.37.
Madrigal Pharmaceuticals (NASDAQ:MDGL – Get Free Report) last issued its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($7.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($6.06) by ($1.32). During the same period in the previous year, the business posted ($4.23) EPS. As a group, sell-side analysts expect that Madrigal Pharmaceuticals will post -27.62 EPS for the current year.
Wall Street Analyst Weigh In
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Insider Buying and Selling at Madrigal Pharmaceuticals
In other Madrigal Pharmaceuticals news, VP Robert E. Waltermire sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $285.00, for a total value of $570,000.00. Following the transaction, the vice president now directly owns 5,500 shares of the company’s stock, valued at approximately $1,567,500. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Fred B. Craves sold 22,489 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $212.88, for a total transaction of $4,787,458.32. Following the sale, the director now directly owns 413,362 shares of the company’s stock, valued at approximately $87,996,502.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Robert E. Waltermire sold 2,000 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $285.00, for a total transaction of $570,000.00. Following the sale, the vice president now directly owns 5,500 shares in the company, valued at $1,567,500. The disclosure for this sale can be found here. Insiders have sold a total of 130,432 shares of company stock valued at $31,320,372 in the last ninety days. 23.92% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of MDGL. Global Retirement Partners LLC lifted its position in shares of Madrigal Pharmaceuticals by 454.5% during the 4th quarter. Global Retirement Partners LLC now owns 122 shares of the biopharmaceutical company’s stock valued at $30,000 after acquiring an additional 100 shares during the period. EntryPoint Capital LLC acquired a new position in shares of Madrigal Pharmaceuticals during the 1st quarter valued at $41,000. UMB Bank n.a. acquired a new position in shares of Madrigal Pharmaceuticals during the 1st quarter valued at $53,000. BNP Paribas acquired a new position in shares of Madrigal Pharmaceuticals during the 1st quarter valued at $68,000. Finally, Comerica Bank lifted its position in shares of Madrigal Pharmaceuticals by 615.4% during the 1st quarter. Comerica Bank now owns 372 shares of the biopharmaceutical company’s stock valued at $99,000 after acquiring an additional 320 shares during the period. Institutional investors and hedge funds 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.
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