Insider Selling: Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Director Sells 26,444 Shares of Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Get Free Report) Director Rebecca Taub sold 26,444 shares of the stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $353.47, for a total transaction of $9,347,160.68. Following the completion of the transaction, the director owned 461,044 shares of the company's stock, valued at $162,965,222.68. This represents a 5.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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 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 5.3%

Shares of Madrigal Pharmaceuticals stock traded down $17.54 on Tuesday, hitting $313.40. 583,499 shares of the company's stock traded hands, compared to its average volume of 362,104. The company has a market capitalization of $6.96 billion, a price-to-earnings ratio of -17.36 and a beta of -1.05. The company has a fifty day moving average of $292.49 and a two-hundred day moving average of $312.53. The company has a debt-to-equity ratio of 0.17, a current ratio of 5.91 and a quick ratio of 5.58. 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 quarterly earnings results on Thursday, May 1st. The biopharmaceutical company reported ($3.32) earnings per share for the quarter, topping analysts' consensus estimates of ($3.62) by $0.30. The business had revenue of $137.25 million for the quarter, compared to the consensus estimate 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 prior year, the business earned ($7.38) EPS. As a group, sell-side analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current year.

Analysts Set New Price Targets

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

Institutional Trading of Madrigal Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of MDGL. Swiss National Bank boosted its position in Madrigal Pharmaceuticals by 2.4% during the 4th quarter. Swiss National Bank now owns 25,600 shares of the biopharmaceutical company's stock valued at $7,899,000 after buying an additional 600 shares during the period. Cibc World Markets Corp bought a new stake in shares of Madrigal Pharmaceuticals in the fourth quarter worth about $519,000. Xponance Inc. increased its holdings in Madrigal Pharmaceuticals by 9.8% during the 4th quarter. Xponance Inc. now owns 1,268 shares of the biopharmaceutical company's stock valued at $391,000 after purchasing an additional 113 shares during the period. Teacher Retirement System of Texas raised its position 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 purchasing an additional 652 shares during the last quarter. Finally, American Century Companies Inc. lifted 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 worth $42,228,000 after buying an additional 25,486 shares during the period. Institutional investors own 98.50% of the company's stock.

Madrigal Pharmaceuticals Company Profile

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.