XTX Topco Ltd Sells 22,479 Shares of Avadel Pharmaceuticals plc (NASDAQ:AVDL)

XTX Topco Ltd reduced its position in Avadel Pharmaceuticals plc (NASDAQ:AVDL) by 45.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,482 shares of the company’s stock after selling 22,479 shares during the quarter. XTX Topco Ltd’s holdings in Avadel Pharmaceuticals were worth $278,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Brandes Investment Partners LP boosted its holdings in Avadel Pharmaceuticals by 58.1% in the 4th quarter. Brandes Investment Partners LP now owns 2,173,139 shares of the company’s stock valued at $22,840,000 after purchasing an additional 798,415 shares during the period. Kennedy Capital Management LLC raised its position in shares of Avadel Pharmaceuticals by 79.7% in the fourth quarter. Kennedy Capital Management LLC now owns 1,056,934 shares of the company’s stock worth $11,108,000 after buying an additional 468,757 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Avadel Pharmaceuticals by 1,703.7% during the fourth quarter. Renaissance Technologies LLC now owns 387,800 shares of the company’s stock valued at $4,076,000 after buying an additional 366,300 shares during the period. Knott David M Jr purchased a new position in Avadel Pharmaceuticals during the fourth quarter worth about $3,646,000. Finally, National Bank of Canada FI bought a new position in Avadel Pharmaceuticals in the 4th quarter worth about $2,102,000. Hedge funds and other institutional investors own 69.19% of the company’s stock.

Avadel Pharmaceuticals Trading Up 2.0 %

AVDL opened at $8.77 on Friday. Avadel Pharmaceuticals plc has a 12 month low of $6.38 and a 12 month high of $19.09. The business’s 50-day moving average price is $7.93 and its 200-day moving average price is $9.80. The company has a market cap of $847.44 million, a P/E ratio of -11.10 and a beta of 1.52.

Analyst Ratings Changes

AVDL has been the subject of several recent analyst reports. HC Wainwright reissued a “buy” rating and set a $21.00 price objective on shares of Avadel Pharmaceuticals in a report on Tuesday, March 4th. UBS Group decreased their price target on shares of Avadel Pharmaceuticals from $22.00 to $14.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Piper Sandler dropped their price objective on shares of Avadel Pharmaceuticals from $24.00 to $13.00 and set an “overweight” rating for the company in a report on Friday, January 10th. Needham & Company LLC reissued a “buy” rating and issued a $19.00 target price on shares of Avadel Pharmaceuticals in a research note on Wednesday, April 9th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Avadel Pharmaceuticals in a research note on Tuesday, February 11th. They set a “buy” rating and a $12.00 price target for the company. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $19.88.

Avadel Pharmaceuticals Company Profile

Avadel Pharmaceuticals plc operates as a biopharmaceutical company in the United States. Its lead product candidate is LUMRYZ, a formulation of sodium oxybate, which is in a Phase 3 clinical trial for the treatment of excessive daytime sleepiness or cataplexy in adults with narcolepsy. The company was formerly known as Flamel Technologies SA and changed its name to Avadel Pharmaceuticals plc in January 2017.