Insider Selling: 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 stock in a transaction on Friday, January 17th. The shares were sold at an average price of $273.41, for a total value of $461,789.49. Following the sale, the chief marketing officer now directly owns 457,310 shares in the company, valued at approximately $125,033,127.10. The trade was a 0.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Madrigal Pharmaceuticals Trading Up 7.6 %

NASDAQ:MDGL opened at $293.64 on Monday. The stock has a market cap of $6.40 billion, a price-to-earnings ratio of -11.71 and a beta of -0.36. Madrigal Pharmaceuticals, Inc. has a one year low of $168.25 and a one year high of $368.29. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.93 and a current ratio of 5.98. The business’s 50-day simple moving average is $314.19 and its 200 day simple moving average is $272.70.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released 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 business had revenue of $62.18 million for the quarter, compared to analysts’ expectations of $34.60 million. During the same quarter last year, the company posted ($5.34) earnings per share. As a group, sell-side analysts predict that Madrigal Pharmaceuticals, Inc. will post -23.77 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Miracle Mile Advisors LLC bought a new position in Madrigal Pharmaceuticals during the 4th quarter worth approximately $216,000. Franklin Resources Inc. lifted its holdings in shares of Madrigal Pharmaceuticals by 8.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,383 shares of the biopharmaceutical company’s stock worth $298,000 after purchasing an additional 103 shares during the last quarter. Sanctuary Advisors LLC lifted its stake in Madrigal Pharmaceuticals by 12.7% in the third quarter. Sanctuary Advisors LLC now owns 1,185 shares of the biopharmaceutical company’s stock valued at $251,000 after buying an additional 134 shares during the last quarter. Geode Capital Management LLC boosted its stake in Madrigal Pharmaceuticals by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 405,655 shares of the biopharmaceutical company’s stock valued at $86,104,000 after purchasing an additional 5,801 shares during the period. Finally, Barclays PLC boosted its position in shares of Madrigal Pharmaceuticals by 159.9% during the third quarter. Barclays PLC now owns 40,279 shares of the biopharmaceutical company’s stock worth $8,549,000 after buying an additional 24,783 shares during the period. 98.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MDGL. HC Wainwright boosted their price objective on shares of Madrigal Pharmaceuticals from $390.00 to $400.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Cantor Fitzgerald reissued a “neutral” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, November 20th. B. Riley upped their price target on Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. StockNews.com upgraded Madrigal Pharmaceuticals to a “sell” rating in a report on Saturday, October 12th. Finally, UBS Group raised their price target on shares of Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a “buy” rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $351.67.

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.