Insider Selling: Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Director Sells 43,263 Shares of Stock

Key Points

• Rebecca Taub, Director of Madrigal Pharmaceuticals, sold 43,263 shares at an average price of $355.69, totaling over $15.38 million, resulting in an 8.58% decrease in her position.
• Madrigal Pharmaceuticals reported a significant revenue increase of 1357.5% year-over-year, earning $212.80 million for the last quarter, surpassing estimates of $158.94 million.
• Analysts have a generally positive outlook on Madrigal Pharmaceuticals, with several upgrades, including a price target increase from $458.00 to $523.00 from UBS Group.

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Get Free Report) Director Rebecca Taub sold 43,263 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $355.69, for a total value of $15,388,216.47. Following the transaction, the director directly owned 461,044 shares in the company, valued at $163,988,740.36. The trade was a 8.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Monday, August 11th, Rebecca Taub sold 3,200 shares of Madrigal Pharmaceuticals stock. The stock was sold at an average price of $350.24, for a total value of $1,120,768.00.
• 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 value of $931,039.37.

Madrigal Pharmaceuticals Stock Down 0.1%

MDGL stock traded down $0.31 during midday trading on Monday, hitting $369.53. The stock had a trading volume of 207,181 shares, compared to its average volume of 376,229. The firm has a market cap of $8.20 billion, a price-to-earnings ratio of -28.62 and a beta of -1.02. The business has a 50-day moving average of $310.35 and a two-hundred day moving average of $314.18. Madrigal Pharmaceuticals, Inc. has a 52-week low of $200.63 and a 52-week high of $377.46. The company has a debt-to-equity ratio of 0.17, a current ratio of 5.11 and a quick ratio of 4.78.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($1.90) earnings per share for the quarter, topping the consensus estimate of ($3.48) by $1.58. The company had revenue of $212.80 million for the quarter, compared to analysts' expectations of $158.94 million. Madrigal Pharmaceuticals had a negative return on equity of 38.38% and a negative net margin of 54.68%. The firm's revenue for the quarter was up 1357.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($7.10) earnings per share. As a group, equities research analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

A number of institutional investors have recently modified their holdings of MDGL. Adage Capital Partners GP L.L.C. grew its stake in shares of Madrigal Pharmaceuticals by 96.3% in the second quarter. Adage Capital Partners GP L.L.C. now owns 376,163 shares of the biopharmaceutical company's stock worth $113,842,000 after acquiring an additional 184,554 shares during the last quarter. Norges Bank purchased a new stake in shares of Madrigal Pharmaceuticals in the second quarter worth $53,406,000. Woodline Partners LP grew its stake in shares of Madrigal Pharmaceuticals by 110.2% in the fourth quarter. Woodline Partners LP now owns 309,117 shares of the biopharmaceutical company's stock worth $95,384,000 after acquiring an additional 162,027 shares during the last quarter. Hood River Capital Management LLC purchased a new stake in shares of Madrigal Pharmaceuticals in the fourth quarter worth $39,447,000. Finally, MPM Bioimpact LLC purchased a new stake in shares of Madrigal Pharmaceuticals in the first quarter worth $33,260,000. 98.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

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.