Tri Locum Partners LP Buys 4,185 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Tri Locum Partners LP increased its holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 9.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,472 shares of the biopharmaceutical company's stock after acquiring an additional 4,185 shares during the period. Madrigal Pharmaceuticals comprises approximately 3.0% of Tri Locum Partners LP's portfolio, making the stock its 14th biggest holding. Tri Locum Partners LP owned about 0.22% of Madrigal Pharmaceuticals worth $14,648,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Madrigal Pharmaceuticals during the 4th quarter valued at $70,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in Madrigal Pharmaceuticals in the 4th quarter worth about $164,000. KBC Group NV boosted 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 purchasing an additional 258 shares during the period. Jump Financial LLC bought a new position in Madrigal Pharmaceuticals in the 4th quarter worth about $210,000. Finally, Farringdon Capital Ltd. bought a new position in Madrigal Pharmaceuticals in the 4th quarter worth about $215,000. 98.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MDGL has been the subject of several analyst reports. B. Riley upgraded Madrigal Pharmaceuticals from a "hold" rating to a "strong-buy" rating and raised their target price for the stock from $236.00 to $422.00 in a research note on Thursday, February 27th. Citigroup raised their target price on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. JMP Securities restated a "market outperform" rating and issued a $443.00 target price on shares of Madrigal Pharmaceuticals in a research note on Thursday, April 24th. Finally, 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. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently 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 $6.89 during trading hours on Wednesday, reaching $333.91. 416,600 shares of the stock traded hands, compared to its average volume of 387,235. The company has a market capitalization of $7.37 billion, a P/E ratio of -13.31 and a beta of -0.69. The company has a quick ratio of 5.93, a current ratio of 5.98 and a debt-to-equity ratio of 0.15. Madrigal Pharmaceuticals, Inc. has a 52-week low of $200.08 and a 52-week high of $377.46. The company's 50-day simple moving average is $325.46 and its two-hundred day simple moving average is $312.35.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) earnings per share for the quarter, beating analysts' consensus estimates of ($4.32) by $1.61. The firm had revenue of $103.32 million for the quarter, compared to analysts' expectations of $97.81 million. Equities research analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current year.

Insider Activity

In other Madrigal Pharmaceuticals news, VP Robert E. Waltermire sold 14,113 shares of the firm's stock in a transaction dated 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 directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James M. Daly sold 15,470 shares of the firm's stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $347.45, for a total transaction of $5,375,051.50. Following the sale, the director now owns 1,912 shares of the company's stock, valued at approximately $664,324.40. This represents a 89.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,810 shares of company stock valued at $10,610,594. Company insiders own 22.80% of the company's stock.

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.