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

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

Madrigal Pharmaceuticals Trading Up 7.6 %

Shares of NASDAQ MDGL opened at $293.64 on Friday. Madrigal Pharmaceuticals, Inc. has a 1 year low of $168.25 and a 1 year high of $368.29. The firm’s 50-day moving average is $314.19 and its 200-day moving average is $272.68. The company has a quick ratio of 5.93, a current ratio of 5.98 and a debt-to-equity ratio of 0.15.

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

Analysts Set New Price Targets

MDGL has been the subject of a number of research analyst reports. B. Riley lifted their target price on shares of 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 lifted their price objective on Madrigal Pharmaceuticals from $390.00 to $400.00 and gave the company a “buy” rating in a research report on Tuesday. JMP Securities restated a “market outperform” rating and set a $427.00 target price on shares of Madrigal Pharmaceuticals in a report on Friday, January 10th. StockNews.com raised Madrigal Pharmaceuticals to a “sell” rating in a report on Saturday, October 12th. Finally, Cantor Fitzgerald reissued a “neutral” rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, November 20th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $351.67.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Commonwealth Equity Services LLC increased its holdings in Madrigal Pharmaceuticals by 116.8% in the second quarter. Commonwealth Equity Services LLC now owns 2,068 shares of the biopharmaceutical company’s stock valued at $579,000 after purchasing an additional 1,114 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Madrigal Pharmaceuticals by 5.8% in the 2nd quarter. Victory Capital Management Inc. now owns 2,252 shares of the biopharmaceutical company’s stock valued at $631,000 after acquiring an additional 124 shares during the last quarter. Quest Partners LLC increased its stake in shares of Madrigal Pharmaceuticals by 5,225.0% in the 2nd quarter. Quest Partners LLC now owns 213 shares of the biopharmaceutical company’s stock valued at $60,000 after acquiring an additional 209 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in shares of Madrigal Pharmaceuticals in the 2nd quarter valued at approximately $414,000. Finally, Envestnet Asset Management Inc. boosted its stake in Madrigal Pharmaceuticals by 198.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 14,454 shares of the biopharmaceutical company’s stock worth $4,049,000 after acquiring an additional 9,616 shares during the last quarter. 98.50% of the stock is currently owned by institutional investors.

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.