Tower Research Capital LLC TRC Grows Position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Tower Research Capital LLC TRC grew its stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 790.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,026 shares of the biopharmaceutical company's stock after acquiring an additional 2,686 shares during the period. Tower Research Capital LLC TRC's holdings in Madrigal Pharmaceuticals were worth $934,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. FMR LLC increased its holdings in shares of Madrigal Pharmaceuticals by 10.8% in the fourth quarter. FMR LLC now owns 867,850 shares of the biopharmaceutical company's stock worth $267,792,000 after purchasing an additional 84,305 shares during the period. Geode Capital Management LLC raised its holdings in shares of Madrigal Pharmaceuticals by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 410,578 shares of the biopharmaceutical company's stock valued at $126,719,000 after acquiring an additional 4,923 shares in the last quarter. William Blair Investment Management LLC bought a new stake in shares of Madrigal Pharmaceuticals during the 4th quarter valued at about $114,717,000. Pictet Asset Management Holding SA grew its holdings in shares of Madrigal Pharmaceuticals by 38.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 208,484 shares of the biopharmaceutical company's stock worth $64,332,000 after purchasing an additional 57,886 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Madrigal Pharmaceuticals by 261.3% during the fourth quarter. Renaissance Technologies LLC now owns 160,782 shares of the biopharmaceutical company's stock worth $49,613,000 after purchasing an additional 116,285 shares in the last quarter. 98.50% of the stock is owned by institutional investors.

Madrigal Pharmaceuticals Trading Up 2.9 %

MDGL stock traded up $9.51 during trading on Tuesday, hitting $340.80. 316,497 shares of the company traded hands, compared to its average volume of 387,190. The company has a 50-day moving average of $325.67 and a 200-day moving average of $312.15. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.93 and a current ratio of 5.98. Madrigal Pharmaceuticals, Inc. has a 1 year low of $191.18 and a 1 year high of $377.46. The firm has a market capitalization of $7.52 billion, a PE ratio of -13.59 and a beta of -0.69.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last issued its earnings results on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) earnings per share (EPS) for the quarter, topping the consensus estimate of ($4.32) by $1.61. The firm had revenue of $103.32 million during the quarter, compared to the consensus estimate of $97.81 million. Analysts predict that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

Insider Transactions at Madrigal Pharmaceuticals

In related news, VP Robert E. Waltermire sold 14,113 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $341.32, for a total transaction of $4,817,049.16. Following the completion of the transaction, the vice president now owns 3,728 shares in the company, valued at $1,272,440.96. This represents a 79.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James M. Daly sold 15,470 shares of Madrigal Pharmaceuticals stock in a transaction on 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 completion of the sale, the director now owns 1,912 shares in the company, valued at approximately $664,324.40. This trade represents a 89.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,810 shares of company stock worth $10,610,594. Company insiders own 22.80% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. HC Wainwright lifted their target price on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. Citigroup lifted their price objective on shares of Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. JMP Securities reissued 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, B. Riley raised Madrigal Pharmaceuticals from a "hold" rating to a "strong-buy" rating and lifted their price target for the stock from $236.00 to $422.00 in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Madrigal Pharmaceuticals presently has an average rating of "Moderate Buy" and an average price target of $409.00.

Madrigal Pharmaceuticals Company 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.