Tri Locum Partners LP Raises Stock Holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Tri Locum Partners LP lifted its stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 9.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,472 shares of the biopharmaceutical company's stock after acquiring an additional 4,185 shares during the period. Madrigal Pharmaceuticals makes up about 3.0% of Tri Locum Partners LP's holdings, making the stock its 14th largest holding. Tri Locum Partners LP owned 0.22% of Madrigal Pharmaceuticals worth $14,648,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in MDGL. Barclays PLC boosted its holdings in Madrigal Pharmaceuticals by 159.9% in the 3rd quarter. Barclays PLC now owns 40,279 shares of the biopharmaceutical company's stock valued at $8,549,000 after purchasing an additional 24,783 shares during the period. Sanctuary Advisors LLC raised its position in shares of Madrigal Pharmaceuticals by 12.7% in the third quarter. Sanctuary Advisors LLC now owns 1,185 shares of the biopharmaceutical company's stock worth $251,000 after buying an additional 134 shares in the last quarter. Franklin Resources Inc. boosted its stake in Madrigal Pharmaceuticals by 8.0% during the third quarter. Franklin Resources Inc. now owns 1,383 shares of the biopharmaceutical company's stock valued at $298,000 after buying an additional 103 shares during the period. Miracle Mile Advisors LLC purchased a new position in Madrigal Pharmaceuticals during the fourth quarter worth about $216,000. Finally, KBC Group NV increased its stake in Madrigal Pharmaceuticals by 73.5% in the 4th quarter. KBC Group NV now owns 609 shares of the biopharmaceutical company's stock worth $188,000 after acquiring an additional 258 shares during the last quarter. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Madrigal Pharmaceuticals Trading Down 2.0 %

Shares of NASDAQ MDGL traded down $6.62 during mid-day trading on Friday, hitting $321.09. The stock had a trading volume of 193,496 shares, compared to its average volume of 388,169. The business has a 50 day moving average price of $325.53 and a two-hundred day moving average price of $313.28. Madrigal Pharmaceuticals, Inc. has a 1 year low of $200.08 and a 1 year high of $377.46. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.93 and a current ratio of 5.98. The firm has a market cap of $7.09 billion, a P/E ratio of -12.84 and a beta of -0.69.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last posted its earnings results on Thursday, May 1st. The biopharmaceutical company reported ($3.32) earnings per share for the quarter, topping analysts' consensus estimates of ($3.62) by $0.30. The firm had revenue of $137.25 million for the quarter, compared to analysts' expectations of $112.79 million. During the same quarter in the prior year, the company posted ($7.38) earnings per share. On average, equities analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current fiscal year.

Insiders Place Their Bets

In related 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 value of $5,375,051.50. Following the completion of the sale, the director now owns 1,912 shares of the company's stock, valued at $664,324.40. This trade represents a 89.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Robert E. Waltermire sold 14,113 shares of Madrigal Pharmaceuticals stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $341.32, for a total transaction of $4,817,049.16. Following the completion of the sale, the vice president now owns 3,728 shares in the company, valued at approximately $1,272,440.96. This trade represents a 79.10 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,810 shares of company stock worth $10,610,594. 22.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. HC Wainwright lifted their price target on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. B. Riley restated a "buy" rating and set a $460.00 price target (up previously from $422.00) on shares of Madrigal Pharmaceuticals in a research report on Friday. JMP Securities reaffirmed a "market outperform" rating and set a $443.00 price target on shares of Madrigal Pharmaceuticals in a research note on Thursday, April 24th. Canaccord Genuity Group increased their price objective on Madrigal Pharmaceuticals from $394.00 to $420.00 and gave the company a "buy" rating in a research report on Friday. Finally, Citigroup boosted their target price on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $414.44.

Madrigal Pharmaceuticals 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.