Madrigal Pharmaceuticals (NASDAQ:MDGL) Director Sells $1,098,343.26 in Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Director Rebecca Taub sold 2,238 shares of the stock in a transaction dated Tuesday, January 20th. The shares were sold at an average price of $490.77, for a total transaction of $1,098,343.26. Following the transaction, the director directly owned 453,351 shares of the company’s stock, valued at $222,491,070.27. This trade represents a 0.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Friday, January 9th, Rebecca Taub sold 18,410 shares of Madrigal Pharmaceuticals stock. The stock was sold at an average price of $522.40, for a total value of $9,617,384.00.
• 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 shares were sold at an average price of $552.15, for a total value of $10,297,597.50.

Madrigal Pharmaceuticals Stock Up 0.2%

Shares of MDGL opened at $498.04 on Friday. The stock has a market capitalization of $11.31 billion, a price-to-earnings ratio of -38.28, a price-to-earnings-growth ratio of 4.82 and a beta of -1.00. Madrigal Pharmaceuticals, Inc. has a 1 year low of $265.00 and a 1 year high of $615.00. The business’s 50 day simple moving average is $560.13 and its 200-day simple moving average is $456.75. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.44 and a quick ratio of 3.26.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its 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%. As a group, equities analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

Several hedge funds have recently bought and sold shares of MDGL. Wealth Enhancement Advisory Services LLC bought a new position in Madrigal Pharmaceuticals in the 2nd quarter worth about $210,000. Park Avenue Securities LLC grew its stake in 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 purchasing an additional 43 shares in the last quarter. J. Safra Sarasin Holding AG increased its holdings in Madrigal Pharmaceuticals by 280.7% during the 2nd quarter. J. Safra Sarasin Holding AG now owns 6,823 shares of the biopharmaceutical company’s stock worth $2,065,000 after purchasing an additional 5,031 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in Madrigal Pharmaceuticals by 0.3% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 70,559 shares of the biopharmaceutical company’s stock valued at $21,354,000 after purchasing an additional 218 shares in the last quarter. Finally, Strid Group LLC purchased a new stake in shares of Madrigal Pharmaceuticals in the 2nd quarter worth $757,000. Institutional investors own 98.50% of the company’s stock.

Analyst Ratings Changes

MDGL has been the topic of several recent research reports. Cantor Fitzgerald upgraded shares of Madrigal Pharmaceuticals from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 4th. Oppenheimer upped their price objective on Madrigal Pharmaceuticals from $600.00 to $650.00 and gave the company an “outperform” rating in a research report on Thursday, November 20th. Piper Sandler raised their price objective on Madrigal Pharmaceuticals from $540.00 to $900.00 and gave the company an “overweight” rating in a research note on Friday, December 19th. HC Wainwright lifted their target price on Madrigal Pharmaceuticals from $568.00 to $620.00 and gave the stock a “buy” rating in a report on Friday, November 21st. Finally, TD Cowen restated a “buy” rating on shares of Madrigal Pharmaceuticals in a report on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $632.64.

Madrigal Pharmaceuticals Company Profile

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.