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 $1,551,490 were sold by Sibold William John on Sep 09 ’24. At $243.83 per share, Sibold William John sold 6,363 shares. The insider’s holdings dropped to 55,887 shares worth approximately $14.49 million following the completion of this transaction.
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Also, William John Sibold purchased 6,363 shares, netting a total of over 1,551,514 in proceeds.
Before that, Waltermire Robert E. had sold 1,900 shares from its account. In a trade valued at $532,000, the Senior VP, Chief Pharma Dev. traded Madrigal Pharmaceuticals Inc shares for $280.00 each. Upon closing the transaction, the insider’s holdings decreased to 1,900 shares, worth approximately $1.43 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 surge of approximately 27.76%. Over the course of the year, Madrigal Pharmaceuticals Inc shares have jumped approximately 12.08%. 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 $226.10, while a 200-day SMA reached $240.56. Nevertheless, trading volume fell to 1.34 million shares from 0.31 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 243.74, which, if violated, would cause prices to drop to 228.14. In the upper region, resistance lies at 269.24. The next price resistance is at 279.14. RSI (Relative Strength Index) is 74.74 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 15.96, which suggests the price will increase in the coming days. Percent R is at 6.68%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
