Quantbot Technologies LP Makes New Investment in Avadel Pharmaceuticals PLC. $AVDL

Quantbot Technologies LP acquired a new stake in Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 48,290 shares of the company’s stock, valued at approximately $737,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Schulhoff & Co. Inc. bought a new stake in shares of Avadel Pharmaceuticals in the 3rd quarter valued at $2,100,000. Vanguard Group Inc. boosted its stake in Avadel Pharmaceuticals by 0.8% during the third quarter. Vanguard Group Inc. now owns 5,606,282 shares of the company’s stock worth $85,608,000 after acquiring an additional 42,023 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Avadel Pharmaceuticals by 405.4% in the third quarter. JPMorgan Chase & Co. now owns 565,471 shares of the company’s stock worth $8,635,000 after purchasing an additional 453,582 shares during the period. Baader Bank Aktiengesellschaft acquired a new stake in Avadel Pharmaceuticals in the third quarter worth $229,000. Finally, Profund Advisors LLC bought a new stake in Avadel Pharmaceuticals in the third quarter valued at $248,000. Institutional investors own 69.19% of the company’s stock.

Analysts Set New Price Targets

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

Avadel Pharmaceuticals Price Performance

Shares of Avadel Pharmaceuticals stock opened at $21.39 on Friday. Avadel Pharmaceuticals PLC. has a 52 week low of $6.38 and a 52 week high of $23.57. The business has a 50 day moving average price of $21.49 and a 200-day moving average price 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.