Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) CMO Sells $461,789.49 in Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) CMO Rebecca Taub sold 1,689 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $273.41, for a total transaction of $461,789.49. Following the completion of 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Madrigal Pharmaceuticals Price Performance

Shares of MDGL stock opened at $293.64 on Monday. The stock’s fifty day simple moving average is $314.19 and its 200 day simple moving average is $272.70. Madrigal Pharmaceuticals, Inc. has a one year low of $168.25 and a one year high of $368.29. The firm has a market cap of $6.40 billion, a price-to-earnings ratio of -11.71 and a beta of -0.36. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.98 and a quick ratio of 5.93.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) EPS for the quarter, beating the consensus estimate of ($6.94) by $2.02. The firm 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 firm posted ($5.34) EPS. On average, analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.77 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on MDGL shares. HC Wainwright lifted their target price on Madrigal Pharmaceuticals from $390.00 to $400.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. StockNews.com upgraded shares of Madrigal Pharmaceuticals to a “sell” rating in a research note on Saturday, October 12th. UBS Group upped their price target on Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Oppenheimer lowered their target price on shares of Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Finally, JMP Securities reissued a “market outperform” rating and set a $427.00 price objective on shares of Madrigal Pharmaceuticals in a research report on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Madrigal Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $351.67.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MDGL. Erste Asset Management GmbH bought a new position in shares of Madrigal Pharmaceuticals in the third quarter valued at approximately $49,749,000. Paulson & CO. Inc. increased its holdings in Madrigal Pharmaceuticals by 10.4% during the 3rd quarter. Paulson & CO. Inc. now owns 2,042,000 shares of the biopharmaceutical company’s stock valued at $433,353,000 after purchasing an additional 192,000 shares in the last quarter. Braidwell LP bought a new position in Madrigal Pharmaceuticals in the 3rd quarter valued at $39,010,000. State Street Corp boosted its stake in Madrigal Pharmaceuticals by 19.2% in the third quarter. State Street Corp now owns 887,752 shares of the biopharmaceutical company’s stock worth $188,399,000 after purchasing an additional 143,038 shares in the last quarter. Finally, Avoro Capital Advisors LLC boosted its stake in Madrigal Pharmaceuticals by 5.7% in the second quarter. Avoro Capital Advisors LLC now owns 2,055,555 shares of the biopharmaceutical company’s stock worth $575,884,000 after purchasing an additional 111,111 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

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.