Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Avadel Pharmaceuticals plc 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 $1.15 million following the completion of this transaction.
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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 shares for $14.45 each. Upon closing the transaction, the insider’s holdings increased to 2,000 shares, worth approximately $1.12 million.
As published in their initiating research note from Rodman & Renshaw on June 12, 2024, Avadel Pharmaceuticals plc [AVDL] has been a Buy and the price target has been revised to $27. Analysts at Oppenheimer resumed the stock at ‘”an Outperform”‘ outlook in a report released in early March. As of March 05, 2024, Needham has reiterated its “Buy” rating for AVDL. Earlier on March 05, 2024, H.C. Wainwright resumed 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 -4.47%. Over the course of the year, Avadel Pharmaceuticals plc shares have jumped approximately 1.35%. Shares of the company reached a 52-week high of $19.09 on 05/03/24 and a 52-week low of $11.82 on 03/04/24. A 50-day SMA is recorded $16.26, while a 200-day SMA reached $14.11. Nevertheless, trading volume fell to 1.93 million shares from 1.01 million shares the previous day.
Support And Resistance Levels for Avadel Pharmaceuticals plc (AVDL)
According to the 24-hour chart, there is a support level at 13.89, which, if violated, would cause prices to drop to 13.47. In the upper region, resistance lies at 14.63. The next price resistance is at 14.95. RSI (Relative Strength Index) is 33.13 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.79, which suggests the price will decrease in the coming days. Percent R is at 76.99%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
