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Insider Buying: Allen Dick, Tandem Diabetes Care Inc [TNDM] Director invested 5,000 shares

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. Tandem Diabetes Care Inc shares valued at $94,778 were purchased by Allen Dick on Nov 27 ’23. At $18.96 per share, Allen Dick acquired 5,000 shares. The insider’s holdings grew to 19,962 shares worth approximately $0.95 million following the completion of this transaction.

Also, Vosseller Leigh purchased 6,200 shares, netting a total of over 95,395 in proceeds. Following the buying of shares at $15.39 each, the insider now holds 11,860 shares.

Before that, Hansen Shannon Marie had added 1,935 shares to its account. In a trade valued at $29,884, the Chief Legal Officer bought Tandem Diabetes Care Inc shares for $15.44 each. Upon closing the transaction, the insider’s holdings increased to 1,935 shares, worth approximately $91660.95.

As published in a research note from Wells Fargo on April 29, 2024, Tandem Diabetes Care Inc [TNDM] has been rated up from an Equal weight to an Overweight and the price target has been revised to $45 from $21. Analysts at Leerink Partners upgraded the stock from ‘”a Market perform”‘ to ‘”an Outperform”‘ outlook in a report released in late April. As of March 26, 2024, Stifel has increased its “Hold” rating to a “Buy” for TNDM. Earlier on August 04, 2023, Citigroup downgraded its rating. Their new recommendation was “a Neutral” for TNDM stock which previously was a “a Buy”.

Analyzing TNDM Stock Performance

During the last five days, there has been a surge of approximately 12.38%. Over the course of the year, Tandem Diabetes Care Inc shares have jumped approximately 60.14%. Shares of the company reached a 52-week high of $47.44 on 05/15/24 and a 52-week low of $21.85 on 01/31/24. A 50-day SMA is recorded $34.74, while a 200-day SMA reached $26.40. Nevertheless, trading volume fell to 1.44 million shares from 1.01 million shares the previous day.

Support And Resistance Levels for Tandem Diabetes Care Inc (TNDM)

According to the 24-hour chart, there is a support level at 45.25, which, if violated, would cause prices to drop to 43.14. In the upper region, resistance lies at 48.46. The next price resistance is at 49.56. RSI (Relative Strength Index) is 74.21 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 3.70, which suggests the price will increase in the coming days. Percent R is at 0.54%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

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