XTX Topco Ltd Makes New Investment in Avadel Pharmaceuticals plc (NASDAQ:AVDL)

XTX Topco Ltd purchased a new stake in Avadel Pharmaceuticals plc (NASDAQ:AVDL - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 48,961 shares of the company's stock, valued at approximately $642,000. XTX Topco Ltd owned approximately 0.05% of Avadel Pharmaceuticals as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in AVDL. FMR LLC acquired a new stake in shares of Avadel Pharmaceuticals during the third quarter valued at $31,000. Amalgamated Bank acquired a new stake in shares of Avadel Pharmaceuticals during the second quarter valued at $45,000. Quarry LP acquired a new stake in shares of Avadel Pharmaceuticals during the second quarter valued at $63,000. Advisors Asset Management Inc. boosted its stake in shares of Avadel Pharmaceuticals by 56.1% during the third quarter. Advisors Asset Management Inc. now owns 7,921 shares of the company's stock valued at $104,000 after acquiring an additional 2,846 shares during the last quarter. Finally, Beverly Hills Private Wealth LLC acquired a new stake in shares of Avadel Pharmaceuticals during the second quarter valued at $146,000. Institutional investors and hedge funds own 69.19% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on AVDL. Needham & Company LLC reaffirmed a "buy" rating and set a $22.00 price objective on shares of Avadel Pharmaceuticals in a research note on Tuesday, November 12th. Oppenheimer raised their price target on Avadel Pharmaceuticals from $29.00 to $30.00 and gave the stock an "outperform" rating in a research note on Thursday, October 31st. Finally, HC Wainwright decreased their price target on Avadel Pharmaceuticals from $27.00 to $25.00 and set a "buy" rating on the stock in a research note on Wednesday, November 13th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $24.43.

Avadel Pharmaceuticals Stock Performance

Shares of NASDAQ AVDL traded down $0.22 during midday trading on Friday, hitting $10.39. The stock had a trading volume of 1,077,170 shares, compared to its average volume of 1,199,554. Avadel Pharmaceuticals plc has a 1-year low of $9.41 and a 1-year high of $19.09. The company has a fifty day moving average price of $12.48 and a 200 day moving average price of $14.23.

Avadel Pharmaceuticals (NASDAQ:AVDL - Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.03. The business had revenue of $50.00 million for the quarter, compared to analyst estimates of $48.43 million. Avadel Pharmaceuticals had a negative return on equity of 93.34% and a negative net margin of 52.53%. The company's revenue was up 624.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.41) EPS. Equities analysts predict that Avadel Pharmaceuticals plc will post -0.48 EPS for the current year.

Insider Activity

In related news, CFO Thomas S. Mchugh bought 5,000 shares of the company's stock in a transaction that occurred on Wednesday, December 11th. The shares were acquired at an average cost of $10.49 per share, for a total transaction of $52,450.00. Following the acquisition, the chief financial officer now owns 85,500 shares in the company, valued at $896,895. This represents a 6.21 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Linda Palczuk bought 3,000 shares of the company's stock in a transaction that occurred on Friday, December 6th. The shares were bought at an average price of $10.19 per share, for a total transaction of $30,570.00. Following the completion of the acquisition, the director now owns 66,400 shares in the company, valued at approximately $676,616. This trade represents a 4.73 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought 38,279 shares of company stock valued at $382,301 in the last three months. Corporate insiders own 4.80% of the company's stock.

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.