Insider Selling: Madrigal Pharmaceuticals (NASDAQ:MDGL) Director Sells 2,238 Shares of Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Director Rebecca Taub sold 2,238 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $490.77, for a total value of $1,098,343.26. Following the transaction, the director owned 453,351 shares in the company, valued at approximately $222,491,070.27. The trade was a 0.49% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Rebecca Taub also recently made the following trade(s):

• On Friday, January 9th, Rebecca Taub sold 18,410 shares of Madrigal Pharmaceuticals stock. The shares were sold at an average price of $522.40, for a total value of $9,617,384.00.
• On Friday, January 9th, Rebecca Taub sold 240 shares of Madrigal Pharmaceuticals stock. The stock was sold at an average price of $550.33, for a total value of $132,079.20.
• On Wednesday, December 10th, Rebecca Taub sold 18,650 shares of Madrigal Pharmaceuticals stock. The shares were sold at an average price of $552.15, for a total transaction of $10,297,597.50.

Madrigal Pharmaceuticals Trading Up 0.7%

Madrigal Pharmaceuticals stock traded up $3.27 during midday trading on Tuesday, hitting $504.95. 222,764 shares of the stock were exchanged, compared to its average volume of 376,339. The company has a current ratio of 3.44, a quick ratio of 3.26 and a debt-to-equity ratio of 0.54. The stock’s 50-day simple moving average is $561.83 and its 200 day simple moving average is $454.73. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $265.00 and a fifty-two week high of $615.00. The stock has a market capitalization of $11.47 billion, a price-to-earnings ratio of -38.81, a PEG ratio of 3.48 and a beta of -1.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its earnings results on Tuesday, November 4th. The biopharmaceutical company reported ($5.08) earnings per share (EPS) for the quarter, missing the consensus estimate 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%. On average, equities analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current year.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

Several hedge funds have recently made changes to their positions in MDGL. Teacher Retirement System of Texas lifted its stake in shares of Madrigal Pharmaceuticals by 9.6% during the second quarter. Teacher Retirement System of Texas now owns 3,860 shares of the biopharmaceutical company’s stock worth $1,168,000 after purchasing an additional 338 shares in the last quarter. Voya Investment Management LLC grew its stake in shares of Madrigal Pharmaceuticals by 16.3% in the third quarter. Voya Investment Management LLC now owns 59,437 shares of the biopharmaceutical company’s stock valued at $27,261,000 after buying an additional 8,347 shares in the last quarter. Calamos Advisors LLC purchased a new stake in shares of Madrigal Pharmaceuticals during the 3rd quarter valued at about $2,057,000. Marex Group plc acquired a new position in Madrigal Pharmaceuticals during the 2nd quarter worth approximately $548,000. Finally, Gladstone Institutional Advisory LLC purchased a new position in Madrigal Pharmaceuticals in the 3rd quarter worth approximately $501,000. Institutional investors and hedge funds own 98.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Oppenheimer upped their price objective on shares of Madrigal Pharmaceuticals from $600.00 to $650.00 and gave the stock an “outperform” rating in a report on Thursday, November 20th. The Goldman Sachs Group restated a “buy” rating and set a $571.00 price target on shares of Madrigal Pharmaceuticals in a research note on Wednesday, January 14th. HC Wainwright raised their price target on Madrigal Pharmaceuticals from $568.00 to $620.00 and gave the stock a “buy” rating in a research report on Friday, November 21st. Cowen reiterated a “buy” rating on shares of Madrigal Pharmaceuticals in a report on Monday, January 12th. Finally, Cantor Fitzgerald raised Madrigal Pharmaceuticals from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $632.64.

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.