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

Indivior PLC (NASDAQ:INDV - Get Free Report) saw a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 2,430,000 shares, an increase of 21.5% from the March 31st total of 2,000,000 shares. Based on an average trading volume of 1,350,000 shares, the days-to-cover ratio is currently 1.8 days. Approximately 2.2% of the shares of the company are sold short.

Hedge Funds Weigh In On Indivior

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. acquired a new position in shares of Indivior during the fourth quarter worth $359,000. Hennion & Walsh Asset Management Inc. acquired a new position in Indivior in the 4th quarter worth about $1,192,000. Geode Capital Management LLC raised its position in Indivior by 7.7% in the third quarter. Geode Capital Management LLC now owns 132,239 shares of the company's stock valued at $1,289,000 after purchasing an additional 9,500 shares during the last quarter. VELA Investment Management LLC boosted its stake in shares of Indivior by 45.5% during the fourth quarter. VELA Investment Management LLC now owns 179,659 shares of the company's stock valued at $2,264,000 after purchasing an additional 56,224 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Indivior during the fourth quarter worth about $56,000. Institutional investors own 60.33% of the company's stock.

Indivior Price Performance

INDV traded down $0.50 during trading on Thursday, hitting $10.98. 780,731 shares of the stock traded hands, compared to its average volume of 994,032. The business has a 50 day moving average price of $9.92 and a 200 day moving average price of $10.50. Indivior has a twelve month low of $7.33 and a twelve month high of $18.59. The company has a market cap of $1.51 billion, a price-to-earnings ratio of -31.37 and a beta of 0.98.

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

Wall Street Analyst Weigh In

Several analysts have weighed in on INDV shares. Piper Sandler dropped their price objective on shares of Indivior from $16.00 to $13.00 and set an "overweight" rating for the company in a research note on Thursday, March 6th. Rodman & Renshaw assumed coverage on Indivior in a research report on Tuesday, January 28th. They set a "buy" rating and a $16.00 price target on the stock. Finally, RODMAN&RENSHAW raised Indivior to a "strong-buy" rating in a report on Tuesday, January 28th.

About Indivior

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.