Insider Selling: Madrigal Pharmaceuticals (NASDAQ:MDGL) Director Sells 491 Shares of Stock

Key Points

• Rebecca Taub, a Madrigal director, sold 491 shares on March 6 at an average price of $431.94 for $212,082.54, leaving her with 452,213 shares (a ~0.11% ownership decline, valued at about $195.3M).
• The trade continues a recent pattern of insider dispositions by Taub—including large sales on Jan. 9 (18,410 and 240 shares) and Dec. 10 (18,650 shares)—totaling tens of thousands of shares sold in recent months.
• Madrigal shares traded down ~1.5% to $432.83; the company reported an earnings miss (EPS -$2.57 vs. $0.04 estimate) despite revenue beating expectations and strong YoY revenue growth, while analysts hold a consensus “Moderate Buy” with a $685.31 target.

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Get Free Report) Director Rebecca Taub sold 491 shares of the company's stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $431.94, for a total transaction of $212,082.54. Following the transaction, the director directly owned 452,213 shares of the company's stock, valued at approximately $195,328,883.22. This trade represents a 0.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Monday, January 26th, Rebecca Taub sold 647 shares of Madrigal Pharmaceuticals stock. The shares were sold at an average price of $492.42, for a total transaction of $318,595.74.
• On Tuesday, January 20th, Rebecca Taub sold 2,238 shares of Madrigal Pharmaceuticals stock. The shares were sold at an average price of $490.77, for a total transaction of $1,098,343.26.
• On Friday, January 9th, Rebecca Taub sold 18,410 shares of Madrigal Pharmaceuticals stock. The stock was sold at an average price of $522.40, for a total value of $9,617,384.00.
• On Friday, January 9th, Rebecca Taub sold 240 shares of Madrigal Pharmaceuticals stock. The shares were sold at an average price of $550.33, for a total transaction of $132,079.20.
• On Wednesday, December 10th, Rebecca Taub sold 18,650 shares of Madrigal Pharmaceuticals stock. The stock was sold at an average price of $552.15, for a total transaction of $10,297,597.50.

Madrigal Pharmaceuticals Stock Down 1.5%

Madrigal Pharmaceuticals stock traded down $6.51 during trading hours on Friday, hitting $432.83. The stock had a trading volume of 440,127 shares, compared to its average volume of 374,182. The stock has a market capitalization of $9.93 billion, a P/E ratio of -33.63 and a beta of -0.97. Madrigal Pharmaceuticals, Inc. has a 12-month low of $265.00 and a 12-month high of $615.00. The company has a quick ratio of 3.77, a current ratio of 4.01 and a debt-to-equity ratio of 0.56. The stock's 50-day moving average price is $492.64 and its 200-day moving average price is $486.72.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last released its quarterly earnings data on Thursday, February 19th. The biopharmaceutical company reported ($2.57) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($2.61). The company had revenue of $321.08 million for the quarter, compared to analysts' expectations of $310.36 million. Madrigal Pharmaceuticals had a negative net margin of 30.08% and a negative return on equity of 43.76%. The firm's revenue for the quarter was up 210.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($2.71) earnings per share. Equities research analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MDGL has been the topic of a number of analyst reports. Wolfe Research set a $579.00 target price on shares of Madrigal Pharmaceuticals in a research note on Tuesday, January 6th. B. Riley Financial raised their price target on Madrigal Pharmaceuticals from $560.00 to $670.00 and gave the company a "buy" rating in a report on Thursday, December 11th. Citigroup reaffirmed an "outperform" rating on shares of Madrigal Pharmaceuticals in a research note on Tuesday, January 20th. Piper Sandler increased their target price on Madrigal Pharmaceuticals from $540.00 to $900.00 and gave the stock an "overweight" rating in a research report on Friday, December 19th. Finally, The Goldman Sachs Group reissued a "buy" rating and issued a $571.00 price target on shares of Madrigal Pharmaceuticals in a report on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $685.31.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of MDGL. AlphaQuest LLC increased its stake in Madrigal Pharmaceuticals by 412.5% in the second quarter. AlphaQuest LLC now owns 82 shares of the biopharmaceutical company's stock worth $25,000 after purchasing an additional 66 shares during the period. Flagship Harbor Advisors LLC bought a new position in shares of Madrigal Pharmaceuticals in the fourth quarter worth about $29,000. Mather Group LLC. purchased a new position in Madrigal Pharmaceuticals in the 3rd quarter worth about $33,000. Global Retirement Partners LLC lifted its holdings in Madrigal Pharmaceuticals by 221.7% during the 3rd quarter. Global Retirement Partners LLC now owns 74 shares of the biopharmaceutical company's stock valued at $34,000 after buying an additional 51 shares in the last quarter. Finally, First Horizon Corp purchased a new stake in Madrigal Pharmaceuticals in the 3rd quarter valued at about $34,000. Institutional investors own 98.50% of the company's stock.

About Madrigal Pharmaceuticals

Madrigal Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the development of innovative therapies for cardiovascular, metabolic and liver diseases. The company's pipeline centers on novel, liver-directed agents designed to address significant unmet medical needs, with an emphasis on nonalcoholic steatohepatitis (NASH) and related metabolic disorders.

The lead product candidate, resmetirom (MGL-3196), is an orally administered, selective thyroid hormone receptor-β agonist in Phase 3 development for the treatment of NASH.

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