Atria Investments Inc Has $281,000 Holdings in Avadel Pharmaceuticals plc (NASDAQ:AVDL)

Atria Investments Inc decreased its position in shares of Avadel Pharmaceuticals plc (NASDAQ:AVDL) by 5.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,732 shares of the company’s stock after selling 1,494 shares during the period. Atria Investments Inc’s holdings in Avadel Pharmaceuticals were worth $281,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Braidwell LP boosted its stake in Avadel Pharmaceuticals by 16.9% during the third quarter. Braidwell LP now owns 3,388,939 shares of the company’s stock worth $44,446,000 after buying an additional 490,300 shares in the last quarter. Wealth Effects LLC lifted its position in shares of Avadel Pharmaceuticals by 4.9% during the 4th quarter. Wealth Effects LLC now owns 2,344,130 shares of the company’s stock worth $24,637,000 after buying an additional 110,359 shares during the period. State Street Corp boosted its stake in Avadel Pharmaceuticals by 42.5% in the 3rd quarter. State Street Corp now owns 1,623,302 shares of the company’s stock valued at $21,290,000 after buying an additional 483,787 shares in the last quarter. Modera Wealth Management LLC grew its position in Avadel Pharmaceuticals by 29.6% in the fourth quarter. Modera Wealth Management LLC now owns 782,567 shares of the company’s stock valued at $8,225,000 after acquiring an additional 178,601 shares during the period. Finally, Lord Abbett & CO. LLC raised its stake in Avadel Pharmaceuticals by 23.9% during the third quarter. Lord Abbett & CO. LLC now owns 489,073 shares of the company’s stock worth $6,414,000 after acquiring an additional 94,239 shares in the last quarter. 69.19% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Linda Palczuk purchased 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The stock was bought at an average cost of $7.93 per share, with a total value of $39,650.00. Following the completion of the purchase, the director now directly owns 67,900 shares in the company, valued at approximately $538,447. This represents a 7.95 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Peter J. Thornton purchased 10,000 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were acquired at an average cost of $8.04 per share, with a total value of $80,400.00. Following the completion of the transaction, the director now owns 104,055 shares in the company, valued at $836,602.20. This trade represents a 10.63 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 4.80% of the company’s stock.

Avadel Pharmaceuticals Trading Up 6.1 %

AVDL stock opened at $8.84 on Tuesday. The firm has a 50 day moving average of $8.26 and a 200-day moving average of $10.98. The firm has a market capitalization of $854.20 million, a P/E ratio of -11.19 and a beta of 1.57. Avadel Pharmaceuticals plc has a 12 month low of $7.39 and a 12 month high of $19.09.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on AVDL shares. UBS Group cut their price objective on Avadel Pharmaceuticals from $22.00 to $14.00 and set a “buy” rating for the company in a research report on Monday, January 13th. HC Wainwright reiterated a “buy” rating and set a $21.00 target price on shares of Avadel Pharmaceuticals in a research report on Tuesday, March 4th. Piper Sandler cut their target price on shares of Avadel Pharmaceuticals from $24.00 to $13.00 and set an “overweight” rating on the stock in a report on Friday, January 10th. Needham & Company LLC reiterated a “buy” rating and issued a $19.00 price objective on shares of Avadel Pharmaceuticals in a research report on Monday, March 3rd. Finally, Deutsche Bank Aktiengesellschaft began coverage on Avadel Pharmaceuticals in a report on Tuesday, February 11th. They set a “buy” rating and a $12.00 target price for the company. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus 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.