Madrigal Pharmaceuticals Inc’s recent filing unveils that its Director FRIEDMAN PAUL A unloaded Company’s shares for reported $6.47 million on Apr 08 ’24. In the deal valued at $246.19 per share,26,270 shares were sold. As a result of this transaction, FRIEDMAN PAUL A now holds 185,735 shares worth roughly $43.27 million.
Then, Taub Rebecca sold 2,676 shares, generating $658,258 in total proceeds. Upon selling the shares at $245.99, the Pres., R&D, and CMO now owns 458,999 shares.
Before that, FRIEDMAN PAUL A sold 27,613 shares. Madrigal Pharmaceuticals Inc shares valued at $6,721,081 were divested by the Director at a price of $243.40 per share. As a result of the transaction, FRIEDMAN PAUL A now holds 185,735 shares, worth roughly $43.27 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 0.70% to $232.98. Over the last five days, the stock has lost -6.56%. Madrigal Pharmaceuticals Inc shares have risen nearly 0.69% since the year began. Nevertheless, the stocks have fallen -2.84% 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 $241.00, while 200 days put it at $202.02. A total of 0.34 million shares were traded, compared to the trading of 0.32 million shares in the previous session.
Levels Of Support And Resistance For MDGL Stock
The 24-hour chart illustrates a support level at 225.28, which if violated will result in even more drops to 217.58. On the upside, there is a resistance level at 238.30. A further resistance level may holdings at 243.62. The Relative Strength Index (RSI) on the 14-day chart is 42.31, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -12.40, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 77.76%. Stochastics %K at 9.68% indicates the stock is a buying.
