Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Avadel Pharmaceuticals plc ADR shares valued at $29,000 were purchased by MCHUGH THOMAS S on Jan 16 ’24. At $14.50 per share, MCHUGH THOMAS S acquired 2,000 shares. The insider’s holdings grew to 80,500 shares worth approximately $1.28 million following the completion of this transaction.
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 $1.25 million.
As published in a research note from Oppenheimer on March 05, 2024, Avadel Pharmaceuticals plc ADR [AVDL] has been retained to an Outperform and the price target has been revised to $29. Analysts at Needham resumed the stock at ‘”a Buy”‘ outlook in a report released in early March. As of March 05, 2024, H.C. Wainwright has reiterated its “Buy” rating for AVDL. Earlier on February 06, 2024, UBS initiated its rating. Their recommendation was “a Buy” for AVDL stock.
Analyzing AVDL Stock Performance
During the last five days, there has been a drop of approximately -3.80%. Over the course of the year, Avadel Pharmaceuticals plc ADR shares have jumped approximately 13.03%. Shares of the company reached a 52-week high of $17.47 on 03/25/24 and a 52-week low of $11.82 on 03/04/24. A 50-day SMA is recorded $15.26, while a 200-day SMA reached $13.50. Nevertheless, trading volume fell to 0.98 million shares from 0.47 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 15.35, which, if violated, would cause prices to drop to 14.73. In the upper region, resistance lies at 16.48. The next price resistance is at 16.99. RSI (Relative Strength Index) is 48.28 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.31, which suggests the price will decrease in the coming days. Percent R is at 68.02%, indicating low 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 Mar 15, 2024 jumping by 1.61 million shares to 10.47 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 8.86 million shares. A jump of 15.38% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 5.73 of the overall float, the days-to-cover ratio (short ratio) jumped to 5.73.
