Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Director Rebecca Taub Sells 2,657 Shares

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Get Free Report) Director Rebecca Taub sold 2,657 shares of the business's stock in a transaction on Thursday, July 17th. The stock was sold at an average price of $350.41, for a total transaction of $931,039.37. Following the completion of the sale, the director owned 461,044 shares in the company, valued at approximately $161,554,428.04. The trade was a 0.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Friday, July 18th, Rebecca Taub sold 1,000 shares of Madrigal Pharmaceuticals stock. The shares were sold at an average price of $350.00, for a total value of $350,000.00.
• On Wednesday, July 16th, Rebecca Taub sold 26,444 shares of Madrigal Pharmaceuticals stock. The stock was sold at an average price of $353.47, for a total transaction of $9,347,160.68.

Madrigal Pharmaceuticals Stock Down 5.3%

Shares of MDGL stock traded down $17.54 on Tuesday, hitting $313.40. The stock had a trading volume of 583,499 shares, compared to its average volume of 362,104. The business has a 50 day moving average price of $292.49 and a 200 day moving average price of $312.53. The company has a quick ratio of 5.58, a current ratio of 5.91 and a debt-to-equity ratio of 0.17. The company has a market cap of $6.96 billion, a PE ratio of -17.36 and a beta of -1.05. Madrigal Pharmaceuticals, Inc. has a one year low of $200.63 and a one year high of $377.46.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last posted its earnings results on Thursday, May 1st. The biopharmaceutical company reported ($3.32) EPS for the quarter, beating analysts' consensus estimates of ($3.62) by $0.30. The company had revenue of $137.25 million during the quarter, compared to analysts' expectations of $112.79 million. Madrigal Pharmaceuticals had a negative net margin of 123.38% and a negative return on equity of 50.54%. During the same quarter in the prior year, the company posted ($7.38) earnings per share. Research analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Swiss National Bank raised its position in Madrigal Pharmaceuticals by 2.4% during the fourth quarter. Swiss National Bank now owns 25,600 shares of the biopharmaceutical company's stock worth $7,899,000 after acquiring an additional 600 shares during the period. Cibc World Markets Corp purchased a new position in shares of Madrigal Pharmaceuticals in the fourth quarter worth about $519,000. Xponance Inc. boosted its position in Madrigal Pharmaceuticals by 9.8% during the fourth quarter. Xponance Inc. now owns 1,268 shares of the biopharmaceutical company's stock worth $391,000 after acquiring an additional 113 shares during the last quarter. Teacher Retirement System of Texas grew its stake in Madrigal Pharmaceuticals by 20.3% during the 4th quarter. Teacher Retirement System of Texas now owns 3,859 shares of the biopharmaceutical company's stock valued at $1,191,000 after acquiring an additional 652 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in Madrigal Pharmaceuticals by 22.9% in the 4th quarter. American Century Companies Inc. now owns 136,849 shares of the biopharmaceutical company's stock valued at $42,228,000 after acquiring an additional 25,486 shares during the last quarter. 98.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on MDGL. JMP Securities restated a "market outperform" rating and set a $443.00 target price on shares of Madrigal Pharmaceuticals in a research report on Thursday, April 24th. Canaccord Genuity Group boosted their target price on Madrigal Pharmaceuticals from $394.00 to $420.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. UBS Group raised their price target on Madrigal Pharmaceuticals from $441.00 to $458.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. B. Riley reiterated a "buy" rating and set a $460.00 price objective (up previously from $422.00) on shares of Madrigal Pharmaceuticals in a research report on Friday, May 2nd. Finally, Wall Street Zen raised shares of Madrigal Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Monday, May 5th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $420.63.

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.