The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Madrigal Pharmaceuticals Inc shares valued at $6,467,491 were sold by FRIEDMAN PAUL A on Apr 08 ’24. At $246.19 per share, FRIEDMAN PAUL A sold 26,270 shares. The insider’s holdings dropped to 185,735 shares worth approximately $38.01 million following the completion of this transaction.
Also, Taub Rebecca sold 2,676 shares, netting a total of over 658,258 in proceeds. Following the sale of shares at $245.99 each, the insider now holds 458,999 shares.
Before that, FRIEDMAN PAUL A had sold 27,613 shares from its account. In a trade valued at $6,721,081, the Director traded Madrigal Pharmaceuticals Inc shares for $243.40 each. Upon closing the transaction, the insider’s holdings decreased to 27,613 shares, worth approximately $38.01 million.
As published in their initiating research note from BofA Securities on April 22, 2024, Madrigal Pharmaceuticals Inc [MDGL] has been an Underperform and the price target has been revised to $150. Analysts at B. Riley Securities upgraded the stock from ‘”a Sell”‘ to ‘”a Neutral”‘ outlook in a report released in mid March. As of March 06, 2024, Citigroup has initiated its “Buy” rating for MDGL. Earlier on February 26, 2024, B. Riley Securities downgraded its rating. Their new recommendation was “a Sell” for MDGL stock which previously was a “a Neutral”.
Analyzing MDGL Stock Performance
During the last five days, there has been a drop of approximately -10.37%. Over the course of the year, Madrigal Pharmaceuticals Inc shares have dropped approximately -11.55%. Shares of the company reached a 52-week high of $299.98 on 03/15/24 and a 52-week low of $168.25 on 02/09/24. A 50-day SMA is recorded $243.09, while a 200-day SMA reached $201.83. Nevertheless, trading volume fell to 0.58 million shares from 0.73 million shares the previous day.
Support And Resistance Levels for Madrigal Pharmaceuticals Inc (MDGL)
According to the 24-hour chart, there is a support level at 199.21, which, if violated, would cause prices to drop to 193.76. In the upper region, resistance lies at 215.05. The next price resistance is at 225.44. RSI (Relative Strength Index) is 32.33 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -18.62, which suggests the price will decrease in the coming days. Percent R is at 87.12%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
