Insider Selling: Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) CMO Sells 648 Shares of Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) CMO Rebecca Taub sold 648 shares of Madrigal Pharmaceuticals stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $335.24, for a total value of $217,235.52. Following the completion of the transaction, the chief marketing officer now directly owns 456,662 shares of the company’s stock, valued at approximately $153,091,368.88. This represents a 0.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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 transaction of $461,789.49.

Madrigal Pharmaceuticals Stock Performance

NASDAQ:MDGL traded down $17.22 during mid-day trading on Monday, hitting $310.92. 558,393 shares of the company traded hands, compared to its average volume of 502,950. The stock’s fifty day moving average price is $314.37 and its 200-day moving average price is $273.95. The company has a quick ratio of 5.93, a current ratio of 5.98 and a debt-to-equity ratio of 0.15. 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 $6.78 billion, a price-to-earnings ratio of -12.40 and a beta of -0.36.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($6.94) by $2.02. The company had revenue of $62.18 million during the quarter, compared to the consensus estimate of $34.60 million. During the same quarter in the prior year, the firm posted ($5.34) earnings per share. Research analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.55 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. JMP Securities reiterated a “market outperform” rating and set a $427.00 price target on shares of Madrigal Pharmaceuticals in a report on Friday, January 10th. StockNews.com upgraded Madrigal Pharmaceuticals to a “sell” rating in a research note on Saturday, October 12th. Cantor Fitzgerald restated a “neutral” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, November 20th. HC Wainwright increased their price objective on Madrigal Pharmaceuticals from $390.00 to $400.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Finally, Oppenheimer decreased their target price on Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Madrigal Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $351.67.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of MDGL. Nisa Investment Advisors LLC increased its stake in Madrigal Pharmaceuticals by 47.6% during the third quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock worth $45,000 after acquiring an additional 68 shares during the last quarter. Quest Partners LLC lifted its stake in shares of Madrigal Pharmaceuticals by 172.8% in the 3rd quarter. Quest Partners LLC now owns 581 shares of the biopharmaceutical company’s stock valued at $123,000 after purchasing an additional 368 shares during the last quarter. Centaurus Financial Inc. purchased a new position in shares of Madrigal Pharmaceuticals in the 2nd quarter worth approximately $163,000. Amalgamated Bank increased 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 purchasing an additional 102 shares during the last quarter. Finally, KBC Group NV raised its holdings in Madrigal Pharmaceuticals by 73.5% during the 4th quarter. KBC Group NV now owns 609 shares of the biopharmaceutical company’s stock valued at $188,000 after buying an additional 258 shares during the period. 98.50% of the stock is owned by hedge funds and other institutional investors.

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.