Rebecca Taub Sells 1,000 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Get Free Report) Director Rebecca Taub sold 1,000 shares of the firm's stock in a transaction on Friday, July 18th. The stock was sold at an average price of $350.00, for a total transaction of $350,000.00. Following the completion of the sale, the director owned 461,044 shares in the company, valued at approximately $161,365,400. The trade was a 0.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

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

• 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.
• On Thursday, July 17th, Rebecca Taub sold 2,657 shares of Madrigal Pharmaceuticals stock. The stock was sold at an average price of $350.41, for a total transaction of $931,039.37.

Madrigal Pharmaceuticals Trading Down 0.3%

NASDAQ:MDGL traded down $0.77 on Friday, hitting $298.40. 300,049 shares of the stock were exchanged, compared to its average volume of 337,214. The stock has a market capitalization of $6.62 billion, a price-to-earnings ratio of -16.53 and a beta of -1.05. Madrigal Pharmaceuticals, Inc. has a 52 week low of $200.63 and a 52 week high of $377.46. The company has a debt-to-equity ratio of 0.17, a quick ratio of 5.58 and a current ratio of 5.91. The company's 50-day moving average price is $293.62 and its 200 day moving average price is $312.02.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last posted its earnings results on Thursday, May 1st. The biopharmaceutical company reported ($3.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.62) by $0.30. The company had revenue of $137.25 million during the quarter, compared to analyst estimates of $112.79 million. Madrigal Pharmaceuticals had a negative return on equity of 50.54% and a negative net margin of 123.38%. During the same period in the previous year, the company earned ($7.38) EPS. On average, equities research analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current year.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

Several institutional investors have recently modified their holdings of MDGL. Adage Capital Partners GP L.L.C. grew its position in shares of Madrigal Pharmaceuticals by 860.0% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 191,609 shares of the biopharmaceutical company's stock worth $63,467,000 after buying an additional 171,649 shares during the period. Woodline Partners LP grew its position in shares of Madrigal Pharmaceuticals by 110.2% in the 4th quarter. Woodline Partners LP now owns 309,117 shares of the biopharmaceutical company's stock valued at $95,384,000 after purchasing an additional 162,027 shares during the period. Hood River Capital Management LLC acquired a new position in shares of Madrigal Pharmaceuticals in the 4th quarter valued at approximately $39,447,000. Renaissance Technologies LLC grew its position in shares of Madrigal Pharmaceuticals by 261.3% in the 4th quarter. Renaissance Technologies LLC now owns 160,782 shares of the biopharmaceutical company's stock valued at $49,613,000 after purchasing an additional 116,285 shares during the period. Finally, Norges Bank acquired a new position in shares of Madrigal Pharmaceuticals in the 4th quarter valued at approximately $35,514,000. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. B. Riley reiterated a "buy" rating and set a $460.00 price target (up previously from $422.00) on shares of Madrigal Pharmaceuticals in a research note on Friday, May 2nd. JMP Securities reiterated a "market outperform" rating and set a $443.00 price target on shares of Madrigal Pharmaceuticals in a research note on Thursday, April 24th. Wall Street Zen upgraded shares of Madrigal Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Monday, May 5th. UBS Group lifted their price objective on Madrigal Pharmaceuticals from $441.00 to $458.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Finally, Canaccord Genuity Group lifted their price target on Madrigal Pharmaceuticals from $394.00 to $420.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Madrigal Pharmaceuticals has an average rating of "Moderate Buy" and an average price target 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.