Rebecca Taub Sells 1,689 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) CMO Rebecca Taub sold 1,689 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $273.41, for a total value of $461,789.49. Following the completion of the sale, the chief marketing officer now directly owns 457,310 shares of the company’s stock, valued at approximately $125,033,127.10. The trade was a 0.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Madrigal Pharmaceuticals Stock Up 7.6 %

Shares of NASDAQ MDGL opened at $293.64 on Friday. The company has a 50 day simple moving average of $314.19 and a 200 day simple moving average of $272.69. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.98 and a quick ratio of 5.93. Madrigal Pharmaceuticals, Inc. has a 1 year low of $168.25 and a 1 year high of $368.29. The firm has a market cap of $6.40 billion, a PE ratio of -11.71 and a beta of -0.36.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share (EPS) for the quarter, beating the consensus estimate of ($6.94) by $2.02. The business had revenue of $62.18 million for the quarter, compared to the consensus estimate of $34.60 million. During the same period in the previous year, the business posted ($5.34) EPS. On average, research analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.77 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Miracle Mile Advisors LLC acquired a new stake in shares of Madrigal Pharmaceuticals in the fourth quarter valued at about $216,000. Franklin Resources Inc. increased its position in Madrigal Pharmaceuticals by 8.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,383 shares of the biopharmaceutical company’s stock valued at $298,000 after purchasing an additional 103 shares during the period. Sanctuary Advisors LLC raised its holdings in Madrigal Pharmaceuticals by 12.7% during the 3rd quarter. Sanctuary Advisors LLC now owns 1,185 shares of the biopharmaceutical company’s stock worth $251,000 after purchasing an additional 134 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Madrigal Pharmaceuticals by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 405,655 shares of the biopharmaceutical company’s stock worth $86,104,000 after purchasing an additional 5,801 shares during the period. Finally, Barclays PLC boosted its stake in shares of Madrigal Pharmaceuticals by 159.9% in the 3rd quarter. Barclays PLC now owns 40,279 shares of the biopharmaceutical company’s stock valued at $8,549,000 after purchasing an additional 24,783 shares during the last quarter. 98.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MDGL has been the subject of a number of research analyst reports. StockNews.com raised shares of Madrigal Pharmaceuticals to a “sell” rating in a research report on Saturday, October 12th. JMP Securities reiterated a “market outperform” rating and issued a $427.00 price target on shares of Madrigal Pharmaceuticals in a research note on Friday, January 10th. Oppenheimer cut their price objective on shares of Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Cantor Fitzgerald restated a “neutral” rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, November 20th. Finally, B. Riley increased their target price on Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Madrigal Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $351.67.

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.