Madrigal Pharmaceuticals (NASDAQ:MDGL) Director Rebecca Taub Sells 2,238 Shares

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

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 stock was sold at an average price of $552.15, for a total value of $10,297,597.50.

Madrigal Pharmaceuticals Trading Up 0.7%

NASDAQ:MDGL opened at $504.95 on Wednesday. The stock has a market cap of $11.47 billion, a price-to-earnings ratio of -38.81, a PEG ratio of 4.87 and a beta of -1.00. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.26 and a current ratio of 3.44. Madrigal Pharmaceuticals, Inc. has a 1 year low of $265.00 and a 1 year high of $615.00. The business has a fifty day moving average of $561.10 and a 200-day moving average of $456.18.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings data 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%. Equities analysts predict that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current year.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the stock. Teacher Retirement System of Texas boosted its holdings in shares of Madrigal Pharmaceuticals by 9.6% in the second quarter. Teacher Retirement System of Texas now owns 3,860 shares of the biopharmaceutical company’s stock worth $1,168,000 after buying an additional 338 shares during the period. Voya Investment Management LLC raised its holdings in shares of Madrigal Pharmaceuticals by 16.3% during the third quarter. Voya Investment Management LLC now owns 59,437 shares of the biopharmaceutical company’s stock valued at $27,261,000 after acquiring an additional 8,347 shares during the period. Marex Group plc purchased a new stake in shares of Madrigal Pharmaceuticals in the 2nd quarter valued at approximately $548,000. Calamos Advisors LLC acquired a new position in Madrigal Pharmaceuticals in the 3rd quarter worth approximately $2,057,000. Finally, Gladstone Institutional Advisory LLC purchased a new position in Madrigal Pharmaceuticals during the 3rd quarter worth approximately $501,000. 98.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MDGL. Piper Sandler raised their price objective on shares of Madrigal Pharmaceuticals from $540.00 to $900.00 and gave the company an “overweight” rating in a research note on Friday, December 19th. Bank of America upgraded Madrigal Pharmaceuticals from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $266.00 to $445.00 in a research report on Monday, November 3rd. The Goldman Sachs Group reissued a “buy” rating and issued a $571.00 price objective on shares of Madrigal Pharmaceuticals in a research note on Wednesday, January 14th. HC Wainwright raised their target price on Madrigal Pharmaceuticals from $568.00 to $620.00 and gave the company a “buy” rating in a research note on Friday, November 21st. Finally, Citigroup reaffirmed an “outperform” rating on shares of Madrigal Pharmaceuticals in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target 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.