Bank of America Corp DE Lowers Position in Indivior PLC (NASDAQ:INDV)

Bank of America Corp DE lowered its position in shares of Indivior PLC (NASDAQ:INDV - Free Report) by 24.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,248,265 shares of the company's stock after selling 401,697 shares during the period. Bank of America Corp DE owned about 0.91% of Indivior worth $15,516,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Indivior during the 4th quarter valued at about $56,000. Stifel Financial Corp grew its position in Indivior by 24.0% during the fourth quarter. Stifel Financial Corp now owns 12,675 shares of the company's stock valued at $158,000 after acquiring an additional 2,450 shares during the last quarter. Rathbones Group PLC raised its stake in shares of Indivior by 11.6% during the fourth quarter. Rathbones Group PLC now owns 14,284 shares of the company's stock worth $183,000 after acquiring an additional 1,483 shares in the last quarter. China Universal Asset Management Co. Ltd. purchased a new position in shares of Indivior during the fourth quarter worth approximately $359,000. Finally, Jane Street Group LLC lifted its holdings in shares of Indivior by 101.9% in the 4th quarter. Jane Street Group LLC now owns 36,881 shares of the company's stock worth $473,000 after acquiring an additional 18,611 shares during the last quarter. 60.33% of the stock is currently owned by hedge funds and other institutional investors.

Indivior Stock Up 5.0%

Shares of Indivior stock traded up $0.56 on Tuesday, hitting $11.82. The stock had a trading volume of 1,433,387 shares, compared to its average volume of 1,024,612. Indivior PLC has a one year low of $7.33 and a one year high of $18.59. The stock's 50-day simple moving average is $10.34 and its two-hundred day simple moving average is $10.72. The stock has a market cap of $1.63 billion, a price-to-earnings ratio of -33.77 and a beta of 0.98.

Indivior (NASDAQ:INDV - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.19. The business had revenue of $266.00 million during the quarter, compared to analysts' expectations of $240.13 million. Indivior had a negative net margin of 3.96% and a negative return on equity of 241.73%. As a group, equities analysts predict that Indivior PLC will post 1.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on INDV. RODMAN&RENSHAW raised shares of Indivior to a "strong-buy" rating in a report on Tuesday, January 28th. Piper Sandler reduced their price objective on Indivior from $16.00 to $13.00 and set an "overweight" rating on the stock in a research note on Thursday, March 6th. Finally, Rodman & Renshaw began coverage on Indivior in a report on Tuesday, January 28th. They issued a "buy" rating and a $16.00 price objective on the stock.

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.