Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Director Sells $1,120,768.00 in Stock

Key Points

• Rebecca Taub, a director at Madrigal Pharmaceuticals, sold 3,200 shares of stock on August 11th at an average price of $350.24, totaling approximately $1.12 million.
• Despite the sale, Taub still owns 461,044 shares of the company's stock, valued at over $161 million, representing a 0.69% decrease in her ownership.
• Madrigal Pharmaceuticals' stock experienced a 4.0% increase on Wednesday, reaching $373.46, with the company recently reporting a 1,357.5% year-over-year revenue increase for the quarter.

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Get Free Report) Director Rebecca Taub sold 3,200 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $350.24, for a total transaction of $1,120,768.00. Following the completion of the sale, the director owned 461,044 shares in the company, valued at approximately $161,476,050.56. This trade represents a 0.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Tuesday, August 12th, Rebecca Taub sold 43,263 shares of Madrigal Pharmaceuticals stock. The shares were sold at an average price of $355.69, for a total transaction of $15,388,216.47.
• 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 shares were sold at an average price of $353.47, for a total value of $9,347,160.68.
• On Thursday, July 17th, Rebecca Taub sold 2,657 shares of Madrigal Pharmaceuticals stock. The shares were sold at an average price of $350.41, for a total transaction of $931,039.37.

Madrigal Pharmaceuticals Stock Performance

Shares of MDGL traded up $5.24 during mid-day trading on Monday, hitting $375.08. 225,835 shares of the company traded hands, compared to its average volume of 376,379. Madrigal Pharmaceuticals, Inc. has a 1 year low of $200.63 and a 1 year high of $377.46. The stock has a market cap of $8.33 billion, a price-to-earnings ratio of -29.19 and a beta of -1.02. The company has a debt-to-equity ratio of 0.17, a quick ratio of 4.78 and a current ratio of 5.11. The stock has a 50-day moving average price of $310.35 and a two-hundred day moving average price of $314.18.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported ($1.90) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($3.48) by $1.58. Madrigal Pharmaceuticals had a negative net margin of 54.68% and a negative return on equity of 38.38%. The firm had revenue of $212.80 million during the quarter, compared to the consensus estimate of $158.94 million. During the same quarter in the previous year, the firm posted ($7.10) EPS. The company's revenue for the quarter was up 1357.5% compared to the same quarter last year. Equities analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on MDGL shares. Canaccord Genuity Group raised their price target on shares of Madrigal Pharmaceuticals from $420.00 to $428.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Wall Street Zen raised Madrigal Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Monday, May 5th. UBS Group reiterated a "buy" rating and issued a $523.00 price objective (up previously from $458.00) on shares of Madrigal Pharmaceuticals in a research report on Tuesday, August 12th. B. Riley reaffirmed a "buy" rating and set a $460.00 target price (up previously from $422.00) on shares of Madrigal Pharmaceuticals in a report on Friday, May 2nd. Finally, JMP Securities reissued a "market outperform" rating and issued a $443.00 price target on shares of Madrigal Pharmaceuticals in a report on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $439.71.

Institutional Trading of Madrigal Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the company. Rhumbline Advisers increased its stake in shares of Madrigal Pharmaceuticals by 7.9% in the first quarter. Rhumbline Advisers now owns 26,364 shares of the biopharmaceutical company's stock worth $8,733,000 after purchasing an additional 1,924 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Madrigal Pharmaceuticals by 131.4% in the first quarter. GAMMA Investing LLC now owns 118 shares of the biopharmaceutical company's stock worth $39,000 after purchasing an additional 67 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Madrigal Pharmaceuticals in the fourth quarter worth $16,615,000. XTX Topco Ltd purchased a new stake in shares of Madrigal Pharmaceuticals in the first quarter worth $392,000. Finally, Wells Fargo & Company MN increased its stake in shares of Madrigal Pharmaceuticals by 19.1% in the fourth quarter. Wells Fargo & Company MN now owns 34,923 shares of the biopharmaceutical company's stock worth $10,776,000 after purchasing an additional 5,604 shares in the last quarter. 98.50% of the stock is owned by hedge funds and other institutional investors.

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.