Quantbot Technologies LP Acquires Shares of 48,290 Avadel Pharmaceuticals PLC. $AVDL

Quantbot Technologies LP bought a new position in shares of Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 48,290 shares of the company’s stock, valued at approximately $737,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Two Seas Capital LP grew its stake in Avadel Pharmaceuticals by 24.4% in the 2nd quarter. Two Seas Capital LP now owns 6,155,074 shares of the company’s stock valued at $54,472,000 after purchasing an additional 1,208,625 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Avadel Pharmaceuticals by 82.3% in the 2nd quarter. Geode Capital Management LLC now owns 2,169,018 shares of the company’s stock worth $19,198,000 after buying an additional 979,422 shares during the last quarter. Brandes Investment Partners LP boosted its holdings in shares of Avadel Pharmaceuticals by 14.5% in the 2nd quarter. Brandes Investment Partners LP now owns 6,487,642 shares of the company’s stock worth $57,416,000 after buying an additional 820,467 shares during the last quarter. Invesco Ltd. grew its position in Avadel Pharmaceuticals by 1,407.6% during the second quarter. Invesco Ltd. now owns 748,875 shares of the company’s stock valued at $6,628,000 after buying an additional 699,201 shares during the period. Finally, JPMorgan Chase & Co. grew its position in Avadel Pharmaceuticals by 405.4% during the third quarter. JPMorgan Chase & Co. now owns 565,471 shares of the company’s stock valued at $8,635,000 after buying an additional 453,582 shares during the period. 69.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Zacks Research raised shares of Avadel Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Avadel Pharmaceuticals in a research note on Monday, December 29th. Finally, Wells Fargo & Company raised their price target on Avadel Pharmaceuticals from $20.00 to $22.50 and gave the stock an “equal weight” rating in a report on Thursday, November 20th. One equities research analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Avadel Pharmaceuticals has a consensus rating of “Hold” and an average target price of $20.00.

Avadel Pharmaceuticals Price Performance

NASDAQ AVDL opened at $21.39 on Friday. Avadel Pharmaceuticals PLC. has a 1-year low of $6.38 and a 1-year high of $23.57. The stock has a 50-day moving average of $21.49 and a 200-day moving average of $19.26.

Avadel Pharmaceuticals Company Profile

Avadel Pharmaceuticals plc is a global specialty biopharmaceutical company focused on developing and delivering treatments for rare diseases and central nervous system disorders. Headquartered in Dublin, Ireland, with operations in the United States, Avadel’s portfolio centers on sleep disorder therapeutics, including its flagship low-sodium oxybate product, XYWAV, which is approved in the U.S. for the treatment of cataplexy or excessive daytime sleepiness in patients with narcolepsy. The company is also advancing FT218, a once-nightly formulation of sodium oxybate, currently under regulatory review for narcolepsy management.

Formed through a rebranding of Flamel Technologies in 2016 and a strategic shift toward rare disease drug development, Avadel has built its R&D capabilities around improving patient compliance and reducing daily sodium exposure compared to traditional therapies.