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Tandem Diabetes Care Inc [NASDAQ: TNDM] Sees Decrease in Stock Value

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Tandem Diabetes Care Inc shares valued at $258,400 were sold by Allen Dick on May 30 ’24. At $51.68 per share, Allen Dick sold 5,000 shares. The insider’s holdings dropped to 0 shares worth approximately $0.0 following the completion of this transaction.

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Also, Allen Dick purchased 5,000 shares, netting a total of over 94,778 in proceeds. Following the buying of shares at $18.96 each, the insider now holds 19,962 shares.

Before that, Vosseller Leigh had added 6,200 shares to its account. In a trade valued at $95,395, the EVP & CHIEF FINANCIAL OFFICER bought Tandem Diabetes Care Inc shares for $15.39 each. Upon closing the transaction, the insider’s holdings increased to 6,200 shares, worth approximately $0.5 million.

As published in their initiating research note from Redburn Atlantic on May 30, 2024, Tandem Diabetes Care Inc [TNDM] has been a Buy and the price target has been revised to $60. Analysts at Citigroup upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in late May. As of April 29, 2024, Wells Fargo has increased its “an Equal weight” rating to a “an Overweight” for TNDM. Earlier on April 25, 2024, Leerink Partners upgraded its rating. Their new recommendation was “an Outperform” for TNDM stock which previously was a “a Market perform”.

Analyzing TNDM Stock Performance

During the last five days, there has been a drop of approximately -10.10%. Over the course of the year, Tandem Diabetes Care Inc shares have jumped approximately 43.91%. Shares of the company reached a 52-week high of $53.69 on 05/31/24 and a 52-week low of $21.85 on 01/31/24. A 50-day SMA is recorded $42.94, while a 200-day SMA reached $28.78. Nevertheless, trading volume fell to 1.25 million shares from 0.92 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 41.89, which, if violated, would cause prices to drop to 41.20. In the upper region, resistance lies at 43.41. The next price resistance is at 44.24. RSI (Relative Strength Index) is 37.27 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -4.93, which suggests the price will decrease in the coming days. Percent R is at 92.36%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

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