Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) CMO Sells $461,789.49 in Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) CMO Rebecca Taub sold 1,689 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $273.41, for a total transaction of $461,789.49. Following the completion of the sale, the chief marketing officer now owns 457,310 shares of the company’s stock, valued at approximately $125,033,127.10. This trade represents a 0.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Madrigal Pharmaceuticals Stock Up 7.6 %

Shares of MDGL stock traded up $20.85 on Friday, hitting $293.64. The company’s stock had a trading volume of 864,385 shares, compared to its average volume of 489,589. The stock has a market capitalization of $6.40 billion, a price-to-earnings ratio of -11.71 and a beta of -0.36. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $168.25 and a fifty-two week high of $368.29. The firm’s fifty day moving average price is $315.33 and its 200-day moving average price is $272.58. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.98 and a quick ratio of 5.93.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share (EPS) for the quarter, topping the consensus estimate of ($6.94) by $2.02. The company had revenue of $62.18 million for the quarter, compared to the consensus estimate of $34.60 million. During the same quarter last year, the company posted ($5.34) EPS. Research analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.77 EPS for the current year.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC boosted its holdings in shares of Madrigal Pharmaceuticals by 116.8% during the 2nd quarter. Commonwealth Equity Services LLC now owns 2,068 shares of the biopharmaceutical company’s stock worth $579,000 after buying an additional 1,114 shares during the period. Victory Capital Management Inc. lifted its position in Madrigal Pharmaceuticals by 5.8% during the 2nd quarter. Victory Capital Management Inc. now owns 2,252 shares of the biopharmaceutical company’s stock worth $631,000 after acquiring an additional 124 shares during the last quarter. Quest Partners LLC boosted its holdings in Madrigal Pharmaceuticals by 5,225.0% during the second quarter. Quest Partners LLC now owns 213 shares of the biopharmaceutical company’s stock valued at $60,000 after acquiring an additional 209 shares during the period. Oppenheimer Asset Management Inc. bought a new position in shares of Madrigal Pharmaceuticals in the second quarter worth about $414,000. Finally, Envestnet Asset Management Inc. increased its stake in shares of Madrigal Pharmaceuticals by 198.8% in the second quarter. Envestnet Asset Management Inc. now owns 14,454 shares of the biopharmaceutical company’s stock worth $4,049,000 after purchasing an additional 9,616 shares during the period. Institutional investors own 98.50% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on MDGL. StockNews.com upgraded Madrigal Pharmaceuticals to a “sell” rating in a report on Saturday, October 12th. Oppenheimer reduced their price objective on Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. B. Riley raised their price objective on Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. JMP Securities reiterated a “market outperform” rating and issued a $427.00 target price on shares of Madrigal Pharmaceuticals in a report on Friday, January 10th. Finally, Cantor Fitzgerald restated a “neutral” rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, November 20th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Madrigal Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $351.67.

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.