Rebecca Taub Sells 18,410 Shares of Madrigal Pharmaceuticals (NASDAQ:MDGL) Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Director Rebecca Taub sold 18,410 shares of the stock in a transaction on Friday, January 9th. The stock was sold at an average price of $522.40, for a total transaction of $9,617,384.00. Following the completion of the sale, the director owned 455,589 shares in the company, valued at approximately $237,999,693.60. This trade represents a 3.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 240 shares of Madrigal Pharmaceuticals stock. The stock was sold at an average price of $550.33, for a total transaction of $132,079.20.
• On Wednesday, December 10th, Rebecca Taub sold 18,650 shares of Madrigal Pharmaceuticals stock. The shares were sold at an average price of $552.15, for a total transaction of $10,297,597.50.

Madrigal Pharmaceuticals Trading Down 3.3%

Shares of MDGL traded down $16.63 during trading hours on Tuesday, reaching $493.90. The stock had a trading volume of 430,259 shares, compared to its average volume of 431,607. The company has a market cap of $11.22 billion, a P/E ratio of -37.96, a P/E/G ratio of 3.64 and a beta of -1.00. Madrigal Pharmaceuticals, Inc. has a 52 week low of $265.00 and a 52 week high of $615.00. The company has a quick ratio of 3.26, a current ratio of 3.44 and a debt-to-equity ratio of 0.54. The firm has a 50-day moving average of $559.75 and a 200 day moving average of $447.71.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its earnings results on Tuesday, November 4th. The biopharmaceutical company reported ($5.08) earnings per share (EPS) 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%. On average, sell-side analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Strs Ohio bought a new stake in Madrigal Pharmaceuticals during the first quarter worth $629,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Madrigal Pharmaceuticals in the 2nd quarter valued at about $210,000. Park Avenue Securities LLC raised its stake in Madrigal Pharmaceuticals by 6.6% in the second quarter. Park Avenue Securities LLC now owns 699 shares of the biopharmaceutical company’s stock valued at $212,000 after buying an additional 43 shares during the period. J. Safra Sarasin Holding AG lifted its position in shares of Madrigal Pharmaceuticals by 280.7% in the second quarter. J. Safra Sarasin Holding AG now owns 6,823 shares of the biopharmaceutical company’s stock valued at $2,065,000 after buying an additional 5,031 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Madrigal Pharmaceuticals by 0.3% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 70,559 shares of the biopharmaceutical company’s stock worth $21,354,000 after acquiring an additional 218 shares during the period. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MDGL. Citizens Jmp lifted their price target on shares of Madrigal Pharmaceuticals from $485.00 to $527.00 and gave the company a “market outperform” rating in a research note on Wednesday, November 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, October 8th. Citigroup reaffirmed an “outperform” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, November 5th. Bank of America upgraded Madrigal Pharmaceuticals from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $266.00 to $445.00 in a report on Monday, November 3rd. Finally, Wolfe Research set a $579.00 price target on Madrigal Pharmaceuticals in a report on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Madrigal Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $620.62.

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.