A company insider recently bought 2,000 shares of Avadel Pharmaceuticals plc ADR [AVDL]. Should You Buy?

CHWY Stock

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Avadel Pharmaceuticals plc ADR shares valued at $29,000 were purchased by MCHUGH THOMAS S on Jan 16. At $14.50 per share, MCHUGH THOMAS S acquired 2,000 shares. The insider’s holdings grew to 80,500 shares worth approximately $1.14 million following the completion of this transaction.

Here's Your FREE Report on the #1 Small-Cap Uranium Stock of '24.

Small-cap Uranium stocks are booming in 2024! The company we're about to show you is the ONLY small-cap stock in the space that benefits from ALL aspects of the global Uranium industry with none of the risks of running a mine. Smart investors will not be hesitating on this one!

Get the FREE Report with all the details here.


Sponsored

Also, McCamish Mark Anthony sold 75,000 shares, netting a total of over 1,089,750 in proceeds. Following the sale of shares at $14.53 each, the insider now holds 67,025 shares.

Before that, MCHUGH THOMAS S had added 2,000 shares to its account. In a trade valued at $28,900, the Chief Financial Officer bought Avadel Pharmaceuticals plc ADR shares for $14.45 each. Upon closing the transaction, the insider’s holdings increased to 2,000 shares, worth approximately $1.11 million.

As published in their initiating research note from UBS on February 06, 2024, Avadel Pharmaceuticals plc ADR [AVDL] has been a Buy and the price target has been revised to $21.

Analyzing AVDL Stock Performance

During the last five days, there has been a drop of approximately -3.40%. Over the course of the year, Avadel Pharmaceuticals plc ADR shares have jumped approximately 0.57%. Shares of the company reached a 52-week high of $17.24 on 01/08/24 and a 52-week low of $13.40 on 01/26/24. A 50-day SMA is recorded $14.43, while a 200-day SMA reached $13.30. Nevertheless, trading volume fell to 0.65 million shares from 0.57 million shares the previous day.

Support And Resistance Levels for Avadel Pharmaceuticals plc ADR (AVDL)

According to the 24-hour chart, there is a support level at 14.11, which, if violated, would cause prices to drop to 14.03. In the upper region, resistance lies at 14.32. The next price resistance is at 14.45. RSI (Relative Strength Index) is 46.89 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.38, which suggests the price will decrease in the coming days. Percent R is at 71.43%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Avadel Pharmaceuticals plc ADR subject to short interest?

Stocks of Avadel Pharmaceuticals plc ADR saw a sharp rise in short interest on Jan 31, 2024 jumping by 3.33 million shares to 8.48 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2023 was 5.15 million shares. A jump of 39.27% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 6.99 of the overall float, the days-to-cover ratio (short ratio) jumped to 6.99.

Most Popular