Madrigal Pharmaceuticals, Inc. $MDGL Shares Bought by Tri Locum Partners LP

Tri Locum Partners LP raised its position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 20.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 103,288 shares of the biopharmaceutical company’s stock after purchasing an additional 17,265 shares during the period. Madrigal Pharmaceuticals accounts for 7.6% of Tri Locum Partners LP’s investment portfolio, making the stock its 7th largest holding. Tri Locum Partners LP owned approximately 0.45% of Madrigal Pharmaceuticals worth $54,068,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Wellington Management Group LLP grew its stake in shares of Madrigal Pharmaceuticals by 5,381.2% during the third quarter. Wellington Management Group LLP now owns 404,455 shares of the biopharmaceutical company’s stock worth $185,507,000 after purchasing an additional 397,076 shares in the last quarter. Norges Bank purchased a new position in Madrigal Pharmaceuticals in the fourth quarter valued at $114,368,000. Deutsche Bank AG raised its stake in Madrigal Pharmaceuticals by 414.5% in the fourth quarter. Deutsche Bank AG now owns 192,109 shares of the biopharmaceutical company’s stock valued at $111,873,000 after buying an additional 154,767 shares in the last quarter. Lord Abbett & CO. LLC raised its stake in Madrigal Pharmaceuticals by 139.7% in the fourth quarter. Lord Abbett & CO. LLC now owns 244,796 shares of the biopharmaceutical company’s stock valued at $142,555,000 after buying an additional 142,653 shares in the last quarter. Finally, Alkeon Capital Management LLC lifted its holdings in Madrigal Pharmaceuticals by 100.0% during the 4th quarter. Alkeon Capital Management LLC now owns 240,000 shares of the biopharmaceutical company’s stock worth $139,762,000 after buying an additional 120,000 shares during the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider David Soergel sold 1,042 shares of Madrigal Pharmaceuticals stock in a transaction on Monday, June 1st. The shares were sold at an average price of $495.74, for a total value of $516,561.08. Following the transaction, the insider directly owned 10,033 shares of the company’s stock, valued at $4,973,759.42. The trade was a 9.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Richard S. Levy sold 5,682 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $515.44, for a total transaction of $2,928,730.08. Following the completion of the sale, the director owned 22,015 shares of the company’s stock, valued at approximately $11,347,411.60. This trade represents a 20.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 7,568 shares of company stock worth $3,880,711. Insiders own 17.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MDGL. HC Wainwright reiterated a “buy” rating and issued a $620.00 price objective on shares of Madrigal Pharmaceuticals in a report on Wednesday, May 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a research note on Friday, July 17th. Canaccord Genuity Group upped their price target on Madrigal Pharmaceuticals from $578.00 to $587.00 and gave the company a “buy” rating in a report on Wednesday. Citigroup reiterated an “outperform” rating on shares of Madrigal Pharmaceuticals in a research note on Friday, July 17th. Finally, Wells Fargo & Company assumed coverage on shares of Madrigal Pharmaceuticals in a report on Monday. They set an “overweight” rating and a $685.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $688.33.

Madrigal Pharmaceuticals Stock Up 1.5%

Shares of NASDAQ MDGL opened at $546.88 on Thursday. The stock has a market cap of $12.61 billion, a PE ratio of -42.72 and a beta of -1.05. The company has a quick ratio of 3.16, a current ratio of 3.50 and a debt-to-equity ratio of 0.63. Madrigal Pharmaceuticals, Inc. has a 52-week low of $286.44 and a 52-week high of $615.00. The business has a 50-day moving average price of $517.89 and a 200 day moving average price of $499.42.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($3.25) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($3.61) by $0.36. Madrigal Pharmaceuticals had a negative return on equity of 50.15% and a negative net margin of 27.32%.The firm had revenue of $311.34 million for the quarter, compared to the consensus estimate of $301.05 million. During the same quarter last year, the business posted ($3.32) EPS. The firm’s quarterly revenue was up 126.8% compared to the same quarter last year. Equities research analysts forecast that Madrigal Pharmaceuticals, Inc. will post -7.45 earnings per share for the current year.

Madrigal Pharmaceuticals 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.