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

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) CMO Rebecca Taub sold 1,689 shares of the stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $273.41, for a total value of $461,789.49. Following the transaction, the chief marketing officer now directly owns 457,310 shares in the company, valued at approximately $125,033,127.10. This represents a 0.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Madrigal Pharmaceuticals Price Performance

Shares of MDGL opened at $293.64 on Friday. The stock’s 50-day moving average price is $314.19 and its 200 day moving average price is $272.68. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.93 and a current ratio of 5.98. Madrigal Pharmaceuticals, Inc. has a 12-month low of $168.25 and a 12-month high of $368.29.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. JMP Securities reaffirmed a “market outperform” rating and set a $427.00 target price on shares of Madrigal Pharmaceuticals in a research report on Friday, January 10th. HC Wainwright upped their price objective on shares of Madrigal Pharmaceuticals from $390.00 to $400.00 and gave the stock a “buy” rating in a report on Tuesday. StockNews.com upgraded shares of Madrigal Pharmaceuticals to a “sell” rating in a report on Saturday, October 12th. Oppenheimer decreased their price target on shares of Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Finally, UBS Group raised their price target on Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Madrigal Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $351.67.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

A number of hedge funds have recently made changes to their positions in MDGL. Nisa Investment Advisors LLC increased its stake in Madrigal Pharmaceuticals by 47.6% in the third quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock valued at $45,000 after acquiring an additional 68 shares during the period. Quest Partners LLC boosted its holdings in Madrigal Pharmaceuticals by 5,225.0% during the second quarter. Quest Partners LLC now owns 213 shares of the biopharmaceutical company’s stock valued at $60,000 after purchasing an additional 209 shares in the last quarter. Centaurus Financial Inc. bought a new stake in shares of Madrigal Pharmaceuticals in the 2nd quarter valued at approximately $163,000. Amalgamated Bank raised its holdings in shares of Madrigal Pharmaceuticals by 20.2% in the 2nd quarter. Amalgamated Bank now owns 607 shares of the biopharmaceutical company’s stock worth $170,000 after buying an additional 102 shares in the last quarter. Finally, Miracle Mile Advisors LLC bought a new position in shares of Madrigal Pharmaceuticals during the 4th quarter worth approximately $216,000. 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.