Tower Research Capital LLC TRC Grows Stock Holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Tower Research Capital LLC TRC boosted its stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 790.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,026 shares of the biopharmaceutical company's stock after purchasing an additional 2,686 shares during the quarter. Tower Research Capital LLC TRC's holdings in Madrigal Pharmaceuticals were worth $934,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Kohmann Bosshard Financial Services LLC acquired a new position in Madrigal Pharmaceuticals in the fourth quarter valued at approximately $70,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Madrigal Pharmaceuticals during the 4th quarter worth approximately $164,000. KBC Group NV boosted its holdings in shares of Madrigal Pharmaceuticals by 73.5% in the 4th quarter. KBC Group NV now owns 609 shares of the biopharmaceutical company's stock valued at $188,000 after buying an additional 258 shares in the last quarter. Jump Financial LLC purchased a new position in shares of Madrigal Pharmaceuticals in the 4th quarter valued at $210,000. Finally, Farringdon Capital Ltd. acquired a new stake in Madrigal Pharmaceuticals during the 4th quarter worth $215,000. Institutional investors and hedge funds own 98.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MDGL. HC Wainwright upped their target price on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the company a "buy" rating in a report on Thursday, February 27th. JMP Securities reaffirmed a "market outperform" rating and set a $443.00 price objective on shares of Madrigal Pharmaceuticals in a research note on Thursday, April 24th. B. Riley upgraded Madrigal Pharmaceuticals from a "hold" rating to a "strong-buy" rating and lifted their target price for the company from $236.00 to $422.00 in a research note on Thursday, February 27th. Finally, Citigroup upped their price target on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $409.00.

Madrigal Pharmaceuticals Price Performance

Shares of NASDAQ MDGL traded down $4.79 during trading on Wednesday, hitting $336.01. 210,276 shares of the company were exchanged, compared to its average volume of 386,637. The firm's fifty day moving average price is $325.46 and its 200 day moving average price is $312.35. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.98 and a quick ratio of 5.93. The company has a market cap of $7.42 billion, a price-to-earnings ratio of -13.40 and a beta of -0.69. Madrigal Pharmaceuticals, Inc. has a 1 year low of $199.40 and a 1 year high of $377.46.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) earnings per share (EPS) for the quarter, topping the consensus estimate of ($4.32) by $1.61. The firm had revenue of $103.32 million for the quarter, compared to analyst estimates of $97.81 million. On average, sell-side analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

Insider Activity at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, Director James M. Daly sold 15,470 shares of the firm's stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $347.45, for a total transaction of $5,375,051.50. Following the completion of the transaction, the director now owns 1,912 shares of the company's stock, valued at approximately $664,324.40. This trade represents a 89.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Robert E. Waltermire sold 1,227 shares of the company's stock in a transaction on Friday, February 28th. The shares were sold at an average price of $341.07, for a total value of $418,492.89. Following the completion of the sale, the vice president now owns 3,728 shares in the company, valued at $1,271,508.96. This represents a 24.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,810 shares of company stock valued at $10,610,594. Insiders own 22.80% of the company's stock.

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.