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SEC EDGAR · Insider purchase

MDGL: BAKER BROS. ADVISORS LP; Baker Bros. Advisors (GP) LLC; BAKER FELIX; BAKER JULIAN; 667, L.P.; Baker Brothers Life Sciences LP reported buying shares

5 reported purchases of non-derivative securities. Code P includes open-market and private purchases; it does not establish motive.

Follow MDGL
Became public
Nov 6, 2026
Event / period date
Nov 4, 2026
Collected
Nov 8, 2026, 9:56 AM EST

Why this is connected

This filing identifies MADRIGAL PHARMACEUTICALS, INC. as the issuer of the security. The company's SEC identifier connects it to MDGL.

Open the original source ↗Follow company activity in MDGL

Reported transactions

BAKER BROS. ADVISORS LP (Director); Baker Bros. Advisors (GP) LLC (Director); BAKER FELIX (Director); BAKER JULIAN (Director); 667, L.P. (Director); Baker Brothers Life Sciences LP (Director)

5,586 shares · Common Stock

Nov 4, 2026 · $366.9922 per share

10,080 shares · Common Stock

Nov 4, 2026 · $368.1134 per share

60,400 shares · Common Stock

Nov 6, 2026 · $383.015 per share

13,740 shares · Common Stock

Nov 6, 2026 · $388.29 per share

2,000 shares · Common Stock

Nov 6, 2026 · $396.61 per share

Value calculated from the reported shares and prices: $35,023,032.10.

Code P covers open-market and private purchases. Grants, option exercises, and tax withholding are excluded from purchase results. Read the source footnotes for ownership and pricing details.

Source evidence

Read the source excerpt or record
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    <issuer>
        <issuerCik>0001157601</issuerCik>
        <issuerName>MADRIGAL PHARMACEUTICALS, INC.</issuerName>
        <issuerTradingSymbol>MDGL</issuerTradingSymbol>
        <issuerForeignTradingSymbol></issuerForeignTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
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            <rptOwnerName>BAKER BROS. ADVISORS LP</rptOwnerName>
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    <reportingOwner>
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            <rptOwnerName>Baker Bros. Advisors (GP) LLC</rptOwnerName>
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    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
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            <rptOwnerName>BAKER FELIX</rptOwnerName>
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    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001087939</rptOwnerCik>
            <rptOwnerName>BAKER JULIAN</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerNonUSAddressFlag>false</rptOwnerNonUSAddressFlag>
            <rptOwnerStreet1>860 WASHINGTON STREET, 3RD FLOOR</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
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    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001551139</rptOwnerCik>
            <rptOwnerName>667, L.P.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerNonUSAddressFlag>false</rptOwnerNonUSAddressFlag>
            <rptOwnerStreet1>860 WASHINGTON STREET, 3RD FLOOR</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10014</rptOwnerZipCode>
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            <isTenPercentOwner>false</isTenPercentOwner>
            <isOther>false</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001363364</rptOwnerCik>
            <rptOwnerName>Baker Brothers Life Sciences LP</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerNonUSAddressFlag>false</rptOwnerNonUSAddressFlag>
            <rptOwnerStreet1>860 WASHINGTON STREET, 3RD FLOOR</rptOwnerStreet1>
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            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
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    <aff10b5One>false</aff10b5One>

    <nonDerivativeTable>
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                <value>Common Stock</value>
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                    <value>203721</value>
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            </postTransactionAmounts>
            <ownershipNature>
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                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnotes</value>
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        <nonDerivativeTransaction>
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            <transactionDate>
                <value>2026-11-04</value>
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                <transactionCode>P</transactionCode>
                <equitySwapInvolved>false</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>5586</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>366.9922</value>
                    <footnoteId id="F5"/>
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                <transactionAcquiredDisposedCode>
                    <value>A</value>
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            </transactionAmounts>
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                    <value>1954462</value>
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            <ownershipNature>
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                    <value>I</value>
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                <natureOfOwnership>
                    <value>See Footnotes</value>
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                    <footnoteId id="F3"/>
                    <footnoteId id="F4"/>
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                    <footnoteId id="F7"/>
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            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2026-11-04</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>false</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>10080</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>368.1134</value>
                    <footnoteId id="F9"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1964542</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnotes</value>
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                    <footnoteId id="F3"/>
                    <footnoteId id="F4"/>
                    <footnoteId id="F6"/>
                    <footnoteId id="F7"/>
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                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2026-11-06</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>false</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>60400</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>383.015</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
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            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnotes</value>
                    <footnoteId id="F2"/>
                    <footnoteId id="F3"/>
                    <footnoteId id="F4"/>
                    <footnoteId id="F6"/>
                    <footnoteId id="F7"/>
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        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
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            <transactionDate>
                <value>2026-11-06</value>
            </transactionDate>
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                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>false</equitySwapInvolved>
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            <transactionAmounts>
                <transactionShares>
                    <value>13740</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>388.29</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
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                    <value>2038682</value>
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                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnotes</value>
                    <footnoteId id="F2"/>
                    <footnoteId id="F3"/>
                    <footnoteId id="F4"/>
                    <footnoteId id="F6"/>
                    <footnoteId id="F7"/>
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        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2026-11-06</value>
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            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>false</equitySwapInvolved>
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            <transactionAmounts>
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                    <value>2000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>396.61</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
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            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnotes</value>
                    <footnoteId id="F2"/>
                    <footnoteId id="F3"/>
                    <footnoteId id="F4"/>
                    <footnoteId id="F6"/>
                    <footnoteId id="F7"/>
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    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">As a result of their ownership interest in (i) Baker Biotech Capital, L.P. and (ii) 667, L.P. (&quot;667&quot;), Julian C. Baker and Felix J. Baker each may be deemed to have an indirect pecuniary interest in common stock (&quot;Common Stock&quot;) of Madrigal Pharmaceuticals, Inc. (the &quot;Issuer&quot;) reported in column 5 of Table I held directly by or held for the benefit of 667, a limited partnership of which the sole general partner is Baker Biotech Capital, L.P., a limited partnership of which the sole general partner is Baker Biotech Capital (GP), LLC, due to their interest in 667 and Baker Biotech Capital, L.P.'s right to receive an allocation of a portion of the profits from 667.</footnote>
        <footnote id="F2">Baker Bros. Advisors LP (the &quot;Adviser&quot;) serves as the investment adviser to 667 and Baker Brothers Life Sciences, L.P. (&quot;Life Sciences&quot;, and together with 667, the &quot;Funds&quot;). In connection with the services provided by the Adviser, the Adviser receives an asset-based management fee that does not confer any pecuniary interest in the securities held directly by the Funds or for the benefit of the Funds. Baker Bros. Advisors (GP) LLC (the &quot;Adviser GP&quot;) is the Adviser's sole general partner. Julian C. Baker and Felix J. Baker are managing members of the Adviser GP. The Adviser has complete and unlimited discretion and authority with respect to the investment and voting power of the securities held directly by the Funds or for the benefit of the Funds. The general partners of the Funds relinquished to the Adviser all discretion and authority with respect to the investment and voting power of the securities held directly by the Funds or for the benefit of the Funds.</footnote>
        <footnote id="F3">Julian C. Baker, Felix J. Baker, the Adviser GP and the Adviser disclaim beneficial ownership of the securities held directly by or held for the benefit of the Funds except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any of Julian C. Baker, Felix J. Baker, the Adviser GP or the Adviser is a beneficial owner of such securities for purposes of Section 16 or any other purpose.</footnote>
        <footnote id="F4">Includes beneficial ownership of 3,825 shares of Common Stock received from vested restricted stock units of the Issuer (each an &quot;RSU&quot;) and 454 shares of Common Stock underlying unvested RSUs previously granted to each of Julian C. Baker, a managing member of the Adviser GP, and Dr. Raymond Cheong, a full-time employee of the Adviser, in their capacity as directors of the Issuer.</footnote>
        <footnote id="F5">The price reported in Column 4 is a weighted average price. These shares of Common Stock were traded by Life Sciences in multiple transactions at prices ranging from $366.77 to $367.17, inclusive. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission (the &quot;Staff&quot;), upon request, full information regarding the number of shares traded at each separate price within the range set forth in this footnote.</footnote>
        <footnote id="F6">Pursuant to the policies of the Adviser, the Adviser has voting and dispositive power over the non-qualified stock options exercisable solely into Common Stock (&quot;Stock Options&quot;), RSUs and any Common Stock received as a result of the exercise of Stock Options or vesting of RSUs.</footnote>
        <footnote id="F7">Pursuant to the policies of the Adviser, Julian C. Baker and Dr. Cheong do not have a right to any of the Issuer's securities issued as compensation for their service on the board of directors of the Issuer and the Funds are entitled to an indirect proportionate pecuniary interest in such securities. The Funds each own an indirect proportionate pecuniary interest in the Stock Options and RSUs. Solely as a result of t

Congressional trading in MDGL

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