Insider Selling: Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) CMO Sells $217,235.52 in Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) CMO Rebecca Taub sold 648 shares of the business’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $335.24, for a total transaction of $217,235.52. Following the sale, the chief marketing officer now directly owns 456,662 shares of the company’s stock, valued at approximately $153,091,368.88. The trade was a 0.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Friday, January 17th, Rebecca Taub sold 1,689 shares of Madrigal Pharmaceuticals stock. The shares were sold at an average price of $273.41, for a total value of $461,789.49.

Madrigal Pharmaceuticals Stock Down 0.3 %

MDGL opened at $326.33 on Thursday. Madrigal Pharmaceuticals, Inc. has a 52 week low of $168.25 and a 52 week high of $368.29. The company has a quick ratio of 5.93, a current ratio of 5.98 and a debt-to-equity ratio of 0.15. The firm has a 50-day simple moving average of $314.96 and a two-hundred day simple moving average of $274.75. The company has a market capitalization of $7.12 billion, a PE ratio of -13.01 and a beta of -0.36.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings results 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 firm had revenue of $62.18 million for the quarter, compared to analysts’ expectations of $34.60 million. During the same quarter in the prior year, the business earned ($5.34) EPS. Analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.55 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of MDGL. Envestnet Asset Management Inc. lifted its position in Madrigal Pharmaceuticals by 198.8% during the second quarter. Envestnet Asset Management Inc. now owns 14,454 shares of the biopharmaceutical company’s stock valued at $4,049,000 after purchasing an additional 9,616 shares during the last quarter. Amalgamated Bank raised its position in shares of Madrigal Pharmaceuticals by 20.2% during the 2nd quarter. Amalgamated Bank now owns 607 shares of the biopharmaceutical company’s stock valued at $170,000 after buying an additional 102 shares in the last quarter. Vanguard Personalized Indexing Management LLC bought a new position in shares of Madrigal Pharmaceuticals in the 2nd quarter valued at about $204,000. Xponance Inc. grew its position in Madrigal Pharmaceuticals by 25.1% in the second quarter. Xponance Inc. now owns 1,117 shares of the biopharmaceutical company’s stock worth $313,000 after acquiring an additional 224 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in Madrigal Pharmaceuticals during the second quarter worth approximately $476,000. 98.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MDGL has been the topic of several recent research reports. Oppenheimer decreased their price objective on Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. B. Riley raised their target price on shares of Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. JMP Securities reiterated a “market outperform” rating and issued a $427.00 price target on shares of Madrigal Pharmaceuticals in a research report on Friday, January 10th. Cantor Fitzgerald restated a “neutral” rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, November 20th. Finally, HC Wainwright upped their target price on shares of Madrigal Pharmaceuticals from $390.00 to $400.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company. According to MarketBeat, Madrigal Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus 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.