Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) CMO Sells $217,235.52 in Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) CMO Rebecca Taub sold 648 shares of Madrigal Pharmaceuticals stock in a transaction on Friday, January 24th. The stock was sold at an average price of $335.24, for a total value of $217,235.52. Following the sale, the chief marketing officer now directly owns 456,662 shares of the company’s stock, valued at approximately $153,091,368.88. This trade represents a 0.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Friday, January 17th, Rebecca Taub sold 1,689 shares of Madrigal Pharmaceuticals stock. The stock was sold at an average price of $273.41, for a total value of $461,789.49.

Madrigal Pharmaceuticals Stock Up 5.3 %

MDGL stock opened at $327.35 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.98 and a quick ratio of 5.93. The stock has a market capitalization of $7.14 billion, a P/E ratio of -13.05 and a beta of -0.36. The business has a 50-day moving average of $314.78 and a 200-day moving average of $274.38. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $168.25 and a fifty-two week high of $368.29.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share (EPS) for the quarter, topping the consensus estimate of ($6.94) by $2.02. The company had revenue of $62.18 million for the quarter, compared to the consensus estimate of $34.60 million. During the same quarter in the previous year, the company posted ($5.34) EPS. On average, sell-side analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.55 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on MDGL shares. B. Riley boosted their target price on Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. HC Wainwright boosted their target price on Madrigal Pharmaceuticals from $390.00 to $400.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Cantor Fitzgerald reissued a “neutral” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, November 20th. JMP Securities reissued a “market outperform” rating and issued a $427.00 target price on shares of Madrigal Pharmaceuticals in a research note on Friday, January 10th. Finally, Oppenheimer decreased their target price on Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Madrigal Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $351.67.

Institutional Trading of Madrigal Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Newbridge Financial Services Group Inc. bought a new stake in Madrigal Pharmaceuticals during the fourth quarter worth about $1,297,000. China Universal Asset Management Co. Ltd. raised its stake in Madrigal Pharmaceuticals by 10.8% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 4,625 shares of the biopharmaceutical company’s stock valued at $1,427,000 after buying an additional 449 shares during the period. KBC Group NV raised its stake in Madrigal Pharmaceuticals by 73.5% in the fourth quarter. KBC Group NV now owns 609 shares of the biopharmaceutical company’s stock valued at $188,000 after buying an additional 258 shares during the period. Miracle Mile Advisors LLC bought a new stake in Madrigal Pharmaceuticals in the fourth quarter valued at approximately $216,000. Finally, Franklin Resources Inc. raised its stake in Madrigal Pharmaceuticals by 8.0% in the third quarter. Franklin Resources Inc. now owns 1,383 shares of the biopharmaceutical company’s stock valued at $298,000 after buying an additional 103 shares during the period. Institutional investors own 98.50% of the company’s stock.

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.