Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Director Rebecca Taub Sells 43,263 Shares

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Director Rebecca Taub sold 43,263 shares of Madrigal Pharmaceuticals stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $355.69, for a total transaction of $15,388,216.47. Following the completion of the transaction, the director owned 461,044 shares in the company, valued at $163,988,740.36. This trade represents a 8.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, August 11th, Rebecca Taub sold 3,200 shares of Madrigal Pharmaceuticals stock. The stock was sold at an average price of $350.24, for a total transaction of $1,120,768.00.
• On Friday, July 18th, Rebecca Taub sold 1,000 shares of Madrigal Pharmaceuticals stock. The stock was sold at an average price of $350.00, for a total transaction of $350,000.00.
• On Wednesday, July 16th, Rebecca Taub sold 26,444 shares of Madrigal Pharmaceuticals stock. The stock was sold at an average price of $353.47, for a total transaction of $9,347,160.68.
• On Thursday, July 17th, Rebecca Taub sold 2,657 shares of Madrigal Pharmaceuticals stock. The stock was sold at an average price of $350.41, for a total transaction of $931,039.37.

Madrigal Pharmaceuticals Price Performance

Shares of Madrigal Pharmaceuticals stock opened at $373.46 on Thursday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 4.78 and a current ratio of 5.11. The firm’s 50-day simple moving average is $306.57 and its 200-day simple moving average is $313.72. Madrigal Pharmaceuticals, Inc. has a twelve month low of $200.63 and a twelve month high of $377.46. The firm has a market cap of $8.29 billion, a P/E ratio of -29.06 and a beta of -1.02.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($1.90) EPS for the quarter, beating analysts’ consensus estimates of ($3.48) by $1.58. The firm had revenue of $212.80 million for the quarter, compared to analyst estimates of $158.94 million. Madrigal Pharmaceuticals had a negative net margin of 54.68% and a negative return on equity of 38.38%. The company’s revenue for the quarter was up 1357.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($7.10) earnings per share. As a group, research analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current fiscal year.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mutual of America Capital Management LLC boosted its position in Madrigal Pharmaceuticals by 0.3% in the first quarter. Mutual of America Capital Management LLC now owns 11,263 shares of the biopharmaceutical company’s stock valued at $3,731,000 after buying an additional 31 shares in the last quarter. Park Avenue Securities LLC raised its stake in shares of Madrigal Pharmaceuticals by 6.6% in the second quarter. Park Avenue Securities LLC now owns 699 shares of the biopharmaceutical company’s stock worth $212,000 after acquiring an additional 43 shares during the last quarter. First Horizon Advisors Inc. raised its stake in shares of Madrigal Pharmaceuticals by 38.9% in the first quarter. First Horizon Advisors Inc. now owns 157 shares of the biopharmaceutical company’s stock worth $52,000 after acquiring an additional 44 shares during the last quarter. XTX Topco Ltd raised its stake in shares of Madrigal Pharmaceuticals by 4.6% in the second quarter. XTX Topco Ltd now owns 1,238 shares of the biopharmaceutical company’s stock worth $375,000 after acquiring an additional 54 shares during the last quarter. Finally, AlphaQuest LLC raised its stake in shares of Madrigal Pharmaceuticals by 412.5% in the second quarter. AlphaQuest LLC now owns 82 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 66 shares during the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on MDGL shares. JMP Securities restated a “market outperform” rating and issued a $443.00 price target on shares of Madrigal Pharmaceuticals in a research report on Thursday, April 24th. Wall Street Zen upgraded shares of Madrigal Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, May 5th. Canaccord Genuity Group raised their price target on shares of Madrigal Pharmaceuticals from $420.00 to $428.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. UBS Group restated a “buy” rating and issued a $523.00 price target (up from $458.00) on shares of Madrigal Pharmaceuticals in a research report on Tuesday. Finally, B. Riley restated a “buy” rating and issued a $460.00 price target (up from $422.00) on shares of Madrigal Pharmaceuticals in a research report on Friday, May 2nd. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Madrigal Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $439.71.

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.