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

Tri Locum Partners LP grew its stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 20.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 103,288 shares of the biopharmaceutical company’s stock after purchasing an additional 17,265 shares during the period. Madrigal Pharmaceuticals makes up approximately 7.6% of Tri Locum Partners LP’s portfolio, making the stock its 7th biggest holding. Tri Locum Partners LP’s holdings in Madrigal Pharmaceuticals were worth $54,068,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Hsbc Holdings PLC purchased a new position in Madrigal Pharmaceuticals in the 2nd quarter valued at $309,000. Qube Research & Technologies Ltd purchased a new position in Madrigal Pharmaceuticals during the 2nd quarter worth $1,163,000. Sei Investments Co. lifted its stake in shares of Madrigal Pharmaceuticals by 73.6% in the 2nd quarter. Sei Investments Co. now owns 17,542 shares of the biopharmaceutical company’s stock worth $5,309,000 after acquiring an additional 7,438 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Madrigal Pharmaceuticals by 2.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,416 shares of the biopharmaceutical company’s stock worth $7,087,000 after acquiring an additional 471 shares during the period. Finally, Bayesian Capital Management LP acquired a new stake in shares of Madrigal Pharmaceuticals in the 2nd quarter worth $418,000. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Insider Activity

In other news, insider David Soergel sold 1,042 shares of Madrigal Pharmaceuticals stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $495.74, for a total transaction of $516,561.08. Following the completion of the sale, the insider directly owned 10,033 shares in the company, valued at $4,973,759.42. The trade was a 9.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Richard S. Levy sold 5,682 shares of the business’s stock in a transaction that occurred 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 transaction, the director directly owned 22,015 shares of the company’s stock, valued at approximately $11,347,411.60. This represents a 20.51% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 7,568 shares of company stock worth $3,880,711 over the last ninety days. 17.60% of the stock is owned by corporate insiders.

Madrigal Pharmaceuticals Stock Performance

Shares of MDGL opened at $546.88 on Thursday. The company has a current ratio of 3.50, a quick ratio of 3.16 and a debt-to-equity ratio of 0.63. The stock has a market cap of $12.61 billion, a P/E ratio of -42.72 and a beta of -1.05. The company has a 50-day moving average of $517.89 and a two-hundred day moving average of $499.42. Madrigal Pharmaceuticals, Inc. has a 12-month low of $286.44 and a 12-month high of $615.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($3.25) EPS for the quarter, beating analysts’ consensus estimates of ($3.61) by $0.36. The firm had revenue of $311.34 million for the quarter, compared to analysts’ expectations of $301.05 million. Madrigal Pharmaceuticals had a negative return on equity of 50.15% and a negative net margin of 27.32%.Madrigal Pharmaceuticals’s quarterly revenue was up 126.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($3.32) EPS. As a group, research analysts predict that Madrigal Pharmaceuticals, Inc. will post -7.45 EPS for the current fiscal year.

Analyst Ratings Changes

MDGL has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a research note on Friday, July 17th. Canaccord Genuity Group raised their price objective on shares of Madrigal Pharmaceuticals from $578.00 to $587.00 and gave the company a “buy” rating in a research report on Wednesday. Wells Fargo & Company began coverage on Madrigal Pharmaceuticals in a report on Monday. They issued an “overweight” rating and a $685.00 price objective on the stock. Truist Financial boosted their target price on Madrigal Pharmaceuticals from $640.00 to $709.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Finally, Evercore set a $649.00 target price on Madrigal Pharmaceuticals in a research note on Thursday, May 7th. One investment 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $688.33.

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-? agonist in Phase 3 development for the treatment of NASH.