Indivior PLC (NASDAQ:INDV) Sees Significant Growth in Short Interest

Indivior PLC (NASDAQ:INDV) saw a large growth in short interest in January. As of January 15th, there was short interest totalling 1,220,000 shares, a growth of 9.9% from the December 31st total of 1,110,000 shares. Currently, 1.1% of the company’s stock are short sold. Based on an average daily volume of 1,280,000 shares, the short-interest ratio is presently 1.0 days.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on INDV. Rodman & Renshaw initiated coverage on shares of Indivior in a research note on Tuesday, January 28th. They set a “buy” rating and a $16.00 target price on the stock. Craig Hallum dropped their price objective on shares of Indivior from $20.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday, October 11th. Piper Sandler reaffirmed an “overweight” rating and set a $16.00 price objective (up from $15.00) on shares of Indivior in a research report on Friday, October 25th. Finally, RODMAN&RENSHAW upgraded shares of Indivior to a “strong-buy” rating in a research note on Tuesday, January 28th.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in INDV. VELA Investment Management LLC boosted its holdings in shares of Indivior by 722.9% in the third quarter. VELA Investment Management LLC now owns 123,435 shares of the company’s stock valued at $1,212,000 after acquiring an additional 108,435 shares during the period. Stifel Financial Corp purchased a new position in Indivior during the 3rd quarter worth $100,000. AlphaCentric Advisors LLC acquired a new position in Indivior in the third quarter valued at $2,364,000. Millennium Management LLC increased its stake in Indivior by 48.1% in the second quarter. Millennium Management LLC now owns 493,313 shares of the company’s stock valued at $7,952,000 after purchasing an additional 160,282 shares during the period. Finally, Clark Estates Inc. NY purchased a new stake in shares of Indivior in the third quarter valued at about $2,477,000. Institutional investors and hedge funds own 60.33% of the company’s stock.

Indivior Stock Performance

Shares of INDV stock traded down $0.17 during mid-day trading on Monday, hitting $11.73. 956,665 shares of the stock were exchanged, compared to its average volume of 1,110,775. The stock’s fifty day simple moving average is $11.80 and its two-hundred day simple moving average is $11.05. Indivior has a 12-month low of $7.33 and a 12-month high of $23.22. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of -293.18 and a beta of 0.74.

Indivior Company Profile

Indivior PLC, together with its subsidiaries, engages in the development, manufacture, and sale of buprenorphine-based prescription drugs for the treatment of opioid dependence and co-occurring disorders in the United States, the United Kingdom, and internationally. The company develops medicines to treat substance use disorders, serious mental illnesses, and opioid overdose.