Tri Locum Partners LP Reduces Stock Position in Madrigal Pharmaceuticals, Inc. $MDGL

Tri Locum Partners LP cut its holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 20.2% during the first quarter, HoldingsChannel reports. The firm owned 37,869 shares of the biopharmaceutical company’s stock after selling 9,603 shares during the period. Madrigal Pharmaceuticals comprises 6.4% of Tri Locum Partners LP’s investment portfolio, making the stock its 6th biggest position. Tri Locum Partners LP’s holdings in Madrigal Pharmaceuticals were worth $12,543,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in MDGL. CANADA LIFE ASSURANCE Co increased its stake in shares of Madrigal Pharmaceuticals by 81.1% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 2,334 shares of the biopharmaceutical company’s stock worth $719,000 after purchasing an additional 1,045 shares during the period. First Trust Advisors LP grew its position in Madrigal Pharmaceuticals by 50.8% during the fourth quarter. First Trust Advisors LP now owns 4,014 shares of the biopharmaceutical company’s stock worth $1,239,000 after buying an additional 1,352 shares in the last quarter. Hsbc Holdings PLC grew its position in Madrigal Pharmaceuticals by 32.7% during the fourth quarter. Hsbc Holdings PLC now owns 2,091 shares of the biopharmaceutical company’s stock worth $643,000 after buying an additional 515 shares in the last quarter. Tudor Investment Corp ET AL grew its position in Madrigal Pharmaceuticals by 837.6% during the fourth quarter. Tudor Investment Corp ET AL now owns 10,327 shares of the biopharmaceutical company’s stock worth $3,187,000 after buying an additional 11,727 shares in the last quarter. Finally, Northern Trust Corp grew its position in Madrigal Pharmaceuticals by 5.5% during the fourth quarter. Northern Trust Corp now owns 155,883 shares of the biopharmaceutical company’s stock worth $48,101,000 after buying an additional 8,111 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MDGL has been the topic of a number of recent research reports. B. Riley reissued a “buy” rating and set a $460.00 target price (up from $422.00) on shares of Madrigal Pharmaceuticals in a research report on Friday, May 2nd. Canaccord Genuity Group lifted their target price on Madrigal Pharmaceuticals from $420.00 to $428.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. JMP Securities lifted their target price on Madrigal Pharmaceuticals from $483.00 to $485.00 and gave the stock a “market outperform” rating in a research report on Wednesday, August 20th. Wall Street Zen raised Madrigal Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, May 5th. Finally, TD Cowen lifted their price objective on Madrigal Pharmaceuticals from $390.00 to $554.00 and gave the company a “buy” rating in a report on Tuesday. Nine investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $459.25.

Madrigal Pharmaceuticals Stock Up 0.0%

NASDAQ MDGL opened at $425.06 on Thursday. The company has a current ratio of 5.11, a quick ratio of 4.78 and a debt-to-equity ratio of 0.17. The stock’s 50 day moving average is $329.34 and its two-hundred day moving average is $318.54. The company has a market capitalization of $9.44 billion, a price-to-earnings ratio of -33.08 and a beta of -1.02. Madrigal Pharmaceuticals, Inc. has a 1-year low of $200.63 and a 1-year high of $437.06.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported ($1.90) earnings per share for the quarter, beating analysts’ consensus estimates of ($3.48) by $1.58. The company had revenue of $212.80 million for the quarter, compared to the consensus estimate of $158.94 million. Madrigal Pharmaceuticals had a negative return on equity of 38.38% and a negative net margin of 54.68%.The company’s quarterly revenue was up 1357.5% on a year-over-year basis. During the same period in the previous year, the business earned ($7.10) earnings per share. Equities analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Paul A. Friedman sold 129,172 shares of the business’s stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $370.24, for a total value of $47,824,641.28. Following the transaction, the director directly owned 187,164 shares of the company’s stock, valued at $69,295,599.36. The trade was a 40.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bros. Advisors Lp Baker bought 68,618 shares of Madrigal Pharmaceuticals stock in a transaction dated Monday, August 18th. The stock was acquired at an average cost of $364.04 per share, for a total transaction of $24,979,696.72. Following the completion of the acquisition, the director directly owned 1,859,091 shares in the company, valued at $676,783,487.64. This represents a 3.83% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 165,683 shares of company stock worth $61,921,142 and sold 301,740 shares worth $109,461,331. 21.50% of the stock is owned by insiders.

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.