Madrigal Pharmaceuticals Inc’s recently made public that its Director FRIEDMAN PAUL A unloaded Company’s shares for reported $6.72 million on Apr 05 ’24. In the deal valued at $243.40 per share,27,613 shares were sold. As a result of this transaction, FRIEDMAN PAUL A now holds 185,735 shares worth roughly $46.31 million.
Then, Taub Rebecca sold 27,506 shares, generating $6,693,790 in total proceeds. Upon selling the shares at $243.36, the Pres., R&D, and CMO now owns 458,999 shares.
Before that, FRIEDMAN PAUL A sold 18,710 shares. Madrigal Pharmaceuticals Inc shares valued at $4,545,721 were divested by the Director at a price of $242.96 per share. As a result of the transaction, FRIEDMAN PAUL A now holds 185,735 shares, worth roughly $46.31 million.
B. Riley Securities upgraded its Madrigal Pharmaceuticals Inc [MDGL] rating to a Neutral from a a Sell in a research note published on March 15, 2024; the price target was increased to $270 from $155. A number of analysts have revised their coverage, including Citigroup’s analysts, who began to cover the stock in early March with a ‘”a Buy”‘ rating. B. Riley Securities also remained covering MDGL and has decreased its forecast on February 26, 2024 with a “Sell” recommendation from previously “Neutral” rating. Oppenheimer maintained its rating on December 20, 2022. It rated MDGL as “an Outperform”.
Price Performance Review of MDGL
On Tuesday, Madrigal Pharmaceuticals Inc [NASDAQ:MDGL] saw its stock jump 0.28% to $249.34. Over the last five days, the stock has gained 1.98%. Madrigal Pharmaceuticals Inc shares have risen nearly 7.76% since the year began. Nevertheless, the stocks have risen 0.71% over the past one year. While a 52-week high of $322.67 was reached on 03/15/24, a 52-week low of $119.76 was recorded on 02/09/24. SMA at 50 days reached $239.33, while 200 days put it at $201.66. A total of 0.23 million shares were traded, compared to the trading of 0.39 million shares in the previous session.
Levels Of Support And Resistance For MDGL Stock
The 24-hour chart illustrates a support level at 244.41, which if violated will result in even more drops to 239.49. On the upside, there is a resistance level at 253.87. A further resistance level may holdings at 258.41. The Relative Strength Index (RSI) on the 14-day chart is 50.06, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -3.81, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 63.04%. Stochastics %K at 24.23% indicates the stock is a holding.
How much short interest is there in Madrigal Pharmaceuticals Inc?
A steep rise in short interest was recorded in Madrigal Pharmaceuticals Inc stocks on Mar 28, 2024, dropping by 100000.0 shares to a total of 3.36 million shares. Yahoo Finance data shows the prior-month short interest on Feb 29, 2024 was 3.46 million shares. There was a decline of -2.98%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 19.42% of the overall stock float, the days-to-cover ratio (short ratio) fell to 4.79.
