Madrigal Pharmaceuticals (NASDAQ:MDGL) Director Sells $9,617,384.00 in Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Director Rebecca Taub sold 18,410 shares of the stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $522.40, for a total transaction of $9,617,384.00. Following the completion of the transaction, the director directly owned 455,589 shares of the company’s stock, valued at $237,999,693.60. This trade represents a 3.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• On Friday, January 9th, Rebecca Taub sold 240 shares of Madrigal Pharmaceuticals stock. The shares were 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 stock was sold at an average price of $552.15, for a total value of $10,297,597.50.

Madrigal Pharmaceuticals Price Performance

Shares of Madrigal Pharmaceuticals stock traded down $16.63 during midday trading on Tuesday, hitting $493.90. 430,259 shares of the company were exchanged, compared to its average volume of 431,607. The firm has a 50 day simple moving average of $559.75 and a 200-day simple moving average of $447.71. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.44 and a quick ratio of 3.26. The firm has a market cap of $11.22 billion, a P/E ratio of -37.96, a PEG ratio of 3.64 and a beta of -1.00. Madrigal Pharmaceuticals, Inc. has a 52 week low of $265.00 and a 52 week high of $615.00.

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

Analysts Set New Price Targets

Several brokerages recently issued reports on MDGL. HC Wainwright lifted their price target on shares of Madrigal Pharmaceuticals from $568.00 to $620.00 and gave the company a “buy” rating in a report on Friday, November 21st. Oppenheimer raised 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. B. Riley boosted their target price on Madrigal Pharmaceuticals from $560.00 to $670.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. JMP Securities set a $527.00 price target on Madrigal Pharmaceuticals in a research report on Wednesday, November 5th. Finally, UBS Group set a $900.00 price objective on Madrigal Pharmaceuticals in a research report on Friday, December 19th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $620.62.

Institutional Trading of Madrigal Pharmaceuticals

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

About Madrigal Pharmaceuticals

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.