Madrigal Pharmaceuticals Inc’s filing revealed that its Senior VP, Chief Pharma Dev. Waltermire Robert E. unloaded Company’s shares for reported $0.24 million on May 21 ’24. In the deal valued at $231.34 per share,1,036 shares were sold. As a result of this transaction, Waltermire Robert E. now holds 5,500 shares worth roughly $1.61 million.
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Then, CRAVES FRED B sold 22,489 shares, generating $4,787,404 in total proceeds. Upon selling the shares at $212.88, the Director now owns 413,362 shares.
Before that, FRIEDMAN PAUL A sold 26,270 shares. Madrigal Pharmaceuticals Inc shares valued at $6,467,491 were divested by the Director at a price of $246.19 per share. As a result of the transaction, FRIEDMAN PAUL A now holds 185,735 shares, worth roughly $54.23 million.
Wolfe Research initiated its Madrigal Pharmaceuticals Inc [MDGL] rating to an Outperform in a research note published on June 11, 2024; the price target was $382. A number of analysts have revised their coverage, including BofA Securities’s analysts, who began to cover the stock in late April with a ‘”an Underperform”‘ rating. B. Riley Securities also remained covering MDGL and has increased its forecast on March 15, 2024 with a “Neutral” recommendation from previously “Sell” rating. Citigroup started covering the stock on March 06, 2024. It rated MDGL as “a Buy”.
Price Performance Review of MDGL
On Tuesday, Madrigal Pharmaceuticals Inc [NASDAQ:MDGL] saw its stock jump 14.56% to $291.99. Over the last five days, the stock has gained 19.50%. Madrigal Pharmaceuticals Inc shares have risen nearly 26.19% since the year began. Nevertheless, the stocks have risen 9.96% over the past one year. While a 52-week high of $299.98 was reached on 03/15/24, a 52-week low of $119.76 was recorded on 02/09/24. SMA at 50 days reached $227.93, while 200 days put it at $206.75. A total of 1.56 million shares were traded, compared to the trading of 0.47 million shares in the previous session.
Levels Of Support And Resistance For MDGL Stock
The 24-hour chart illustrates a support level at 264.60, which if violated will result in even more drops to 237.22. On the upside, there is a resistance level at 307.44. A further resistance level may holdings at 322.89. The Relative Strength Index (RSI) on the 14-day chart is 76.07, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 23.36, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 4.04%. Stochastics %K at 92.63% indicates the stock is a selling.
