Madrigal Pharmaceuticals Inc’s filing revealed 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 $40.48 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 $40.48 million.
BofA Securities initiated its Madrigal Pharmaceuticals Inc [MDGL] rating to an Underperform in a research note published on April 22, 2024; the price target was $150. A number of analysts have revised their coverage, including B. Riley Securities’s analysts, who increased its forecast for the stock in mid March from “a Sell” to “a Neutral”. Citigroup began covering MDGL with “Buy” recommendation on March 06, 2024. B. Riley Securities revised its rating on February 26, 2024. It rated MDGL as “a Sell” which previously was an “a Neutral”.
Price Performance Review of MDGL
On Tuesday, Madrigal Pharmaceuticals Inc [NASDAQ:MDGL] saw its stock fall -7.48% to $217.96. Over the last five days, the stock has gained 6.83%. Madrigal Pharmaceuticals Inc shares have fallen nearly -5.80% since the year began. Nevertheless, the stocks have fallen -28.86% over the past one year. While a 52-week high of $313.11 was reached on 03/15/24, a 52-week low of $119.76 was recorded on 02/09/24. SMA at 50 days reached $240.07, while 200 days put it at $201.45. A total of 0.78 million shares were traded, compared to the trading of 0.44 million shares in the previous session.
Levels Of Support And Resistance For MDGL Stock
The 24-hour chart illustrates a support level at 211.78, which if violated will result in even more drops to 205.60. On the upside, there is a resistance level at 227.32. A further resistance level may holdings at 236.67. The Relative Strength Index (RSI) on the 14-day chart is 46.58, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 15.39, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 39.22%. Stochastics %K at 81.85% indicates the stock is a selling.
The most recent change occurred on December 20, 2022 when Oppenheimer resumed its ‘”an Outperform”‘ rating for the stock and retained the price target to $250.
