Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Madrigal Pharmaceuticals Inc shares valued at $532,000 were sold by Waltermire Robert E. on Jun 14 ’24. At $280.00 per share, Waltermire Robert E. sold 1,900 shares. The insider’s holdings dropped to 5,500 shares worth approximately $1.49 million following the completion of this transaction.
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Also, Waltermire Robert E. sold 2,000 shares, netting a total of over 570,000 in proceeds. Following the sale of shares at $285.00 each, the insider now holds 5,500 shares.
Before that, Waltermire Robert E. had sold 1,036 shares from its account. In a trade valued at $239,668, the Senior VP, Chief Pharma Dev. traded Madrigal Pharmaceuticals Inc shares for $231.34 each. Upon closing the transaction, the insider’s holdings decreased to 1,036 shares, worth approximately $1.49 million.
As published in their initiating research note from Cantor Fitzgerald on June 28, 2024, Madrigal Pharmaceuticals Inc [MDGL] has been a Neutral. Analysts at Wolfe Research started covering the stock with ‘”an Outperform”‘ outlook in a report released in mid June. As of April 22, 2024, BofA Securities has initiated its “an Underperform” rating for MDGL. Earlier on March 15, 2024, B. Riley Securities upgraded its rating. Their new recommendation was “a Neutral” for MDGL stock which previously was a “a Sell”.
Analyzing MDGL Stock Performance
During the last five days, there has been a drop of approximately -1.58%. Over the course of the year, Madrigal Pharmaceuticals Inc shares have jumped approximately 17.12%. 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 $240.49, while a 200-day SMA reached $213.86. Nevertheless, trading volume fell to 77460.0 shares from 0.29 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 268.91, which, if violated, would cause prices to drop to 266.15. In the upper region, resistance lies at 274.12. The next price resistance is at 276.57. RSI (Relative Strength Index) is 54.57 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.03, which suggests the price will decrease in the coming days. Percent R is at 59.42%, indicating low price movement. Stochastics%K at holding indicates that the stock is to be held.
