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

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Director Rebecca Taub sold 491 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on 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 in the company, valued at approximately $195,328,883.22. The trade was a 0.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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 stock was sold at an average price of $490.77, for a total value 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 Performance

Madrigal Pharmaceuticals stock traded down $6.51 during mid-day trading on Friday, reaching $432.83. 440,127 shares of the company traded hands, compared to its average volume of 374,182. The firm’s fifty day moving average is $492.64 and its two-hundred day moving average is $486.72. The company has a market capitalization of $9.93 billion, a price-to-earnings ratio of -33.63 and a beta of -0.97. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $265.00 and a fifty-two week high of $615.00. The company has a debt-to-equity ratio of 0.56, a current ratio of 4.01 and a quick ratio of 3.77.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its earnings results on Thursday, February 19th. The biopharmaceutical company reported ($2.57) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($2.61). Madrigal Pharmaceuticals had a negative return on equity of 43.76% and a negative net margin of 30.08%.The firm had revenue of $321.08 million during the quarter, compared to analysts’ expectations of $310.36 million. During the same quarter last year, the business earned ($2.71) EPS. The business’s revenue was up 210.8% on a year-over-year basis. On average, equities research analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on MDGL shares. Truist Financial lifted their price objective on shares of Madrigal Pharmaceuticals from $580.00 to $640.00 and gave the company a “buy” rating in a research note on Wednesday, November 19th. Zacks Research raised shares of Madrigal Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Friday, February 20th. Canaccord Genuity Group upped their price target on shares of Madrigal Pharmaceuticals from $526.00 to $587.00 and gave the company a “buy” rating in a report on Thursday, November 13th. Citizens Jmp increased their price target on Madrigal Pharmaceuticals from $527.00 to $745.00 and gave the stock a “market outperform” rating in a research report on Tuesday, January 20th. Finally, Barclays initiated coverage on Madrigal Pharmaceuticals in a report on Tuesday, January 27th. They issued an “overweight” rating and a $964.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Madrigal Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $685.31.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

Several hedge funds have recently modified their holdings of the company. Flagship Harbor Advisors LLC purchased a new position in shares of Madrigal Pharmaceuticals during the 4th quarter valued at approximately $29,000. Aventura Private Wealth LLC purchased a new position in Madrigal Pharmaceuticals in the 4th quarter worth approximately $36,000. Kemnay Advisory Services Inc. purchased a new position in Madrigal Pharmaceuticals during the fourth quarter worth approximately $39,000. Mather Group LLC. purchased a new position in Madrigal Pharmaceuticals during the third quarter worth approximately $33,000. Finally, Global Retirement Partners LLC boosted its stake in Madrigal Pharmaceuticals by 221.7% during the third quarter. Global Retirement Partners LLC now owns 74 shares of the biopharmaceutical company’s stock worth $34,000 after buying an additional 51 shares during the last quarter. 98.50% of the stock is owned by hedge funds and other institutional investors.

Madrigal Pharmaceuticals Company Profile

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.