Investors Asset Management of Georgia Inc. GA ADV Buys 21,200 Shares of Avadel Pharmaceuticals plc (NASDAQ:AVDL)

Investors Asset Management of Georgia Inc. GA ADV raised its stake in shares of Avadel Pharmaceuticals plc (NASDAQ:AVDL) by 21.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 120,275 shares of the company’s stock after purchasing an additional 21,200 shares during the quarter. Investors Asset Management of Georgia Inc. GA ADV owned 0.12% of Avadel Pharmaceuticals worth $1,264,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Wealth Effects LLC grew its stake in shares of Avadel Pharmaceuticals by 4.9% during the fourth quarter. Wealth Effects LLC now owns 2,344,130 shares of the company’s stock valued at $24,637,000 after buying an additional 110,359 shares during the last quarter. XTX Topco Ltd purchased a new position in Avadel Pharmaceuticals during the third quarter valued at $642,000. State Street Corp lifted its stake in shares of Avadel Pharmaceuticals by 42.5% in the third quarter. State Street Corp now owns 1,623,302 shares of the company’s stock worth $21,290,000 after buying an additional 483,787 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of Avadel Pharmaceuticals by 274.6% during the fourth quarter. SG Americas Securities LLC now owns 46,767 shares of the company’s stock valued at $492,000 after buying an additional 34,281 shares during the last quarter. Finally, Barclays PLC boosted its holdings in Avadel Pharmaceuticals by 45.8% in the third quarter. Barclays PLC now owns 392,691 shares of the company’s stock worth $5,150,000 after purchasing an additional 123,430 shares during the last quarter. Hedge funds and other institutional investors own 69.19% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. UBS Group reduced their price objective on Avadel Pharmaceuticals from $22.00 to $14.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Oppenheimer raised their target price on shares of Avadel Pharmaceuticals from $29.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. HC Wainwright restated a “buy” rating and issued a $21.00 target price (down from $25.00) on shares of Avadel Pharmaceuticals in a research note on Friday, January 10th. Needham & Company LLC reduced their price target on shares of Avadel Pharmaceuticals from $22.00 to $19.00 and set a “buy” rating for the company in a report on Thursday, January 9th. Finally, Piper Sandler lowered their target price on shares of Avadel Pharmaceuticals from $24.00 to $13.00 and set an “overweight” rating for the company in a research note on Friday, January 10th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Avadel Pharmaceuticals has a consensus rating of “Buy” and an average price target of $19.88.

Insider Transactions at Avadel Pharmaceuticals

In related news, Director Linda Palczuk bought 5,000 shares of Avadel Pharmaceuticals stock in a transaction that occurred on Tuesday, January 21st. The stock was purchased at an average cost of $7.93 per share, for a total transaction of $39,650.00. Following the acquisition, the director now owns 67,900 shares in the company, valued at $538,447. This trade represents a 7.95 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Geoffrey Michael Glass purchased 20,279 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were purchased at an average price of $9.84 per share, with a total value of $199,545.36. Following the completion of the acquisition, the director now directly owns 75,904 shares of the company’s stock, valued at approximately $746,895.36. This trade represents a 36.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 55,579 shares of company stock valued at $526,363. Corporate insiders own 4.80% of the company’s stock.

Avadel Pharmaceuticals Stock Up 0.7 %

Shares of AVDL opened at $8.47 on Friday. Avadel Pharmaceuticals plc has a 52-week low of $7.39 and a 52-week high of $19.09. The company has a market capitalization of $816.17 million, a PE ratio of -10.72 and a beta of 1.28. The company has a 50-day simple moving average of $9.12 and a 200-day simple moving average of $11.98.

About Avadel Pharmaceuticals

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.