Indivior PLC (NASDAQ:INDV) Short Interest Up 9.9% in January

Indivior PLC (NASDAQ:INDV - Get Free Report) was the recipient of a large increase in short interest during the month of January. As of January 15th, there was short interest totalling 1,220,000 shares, an increase of 9.9% from the December 31st total of 1,110,000 shares. Based on an average daily trading volume, of 1,280,000 shares, the short-interest ratio is currently 1.0 days. Currently, 1.1% of the shares of the company are short sold.

Indivior Stock Down 3.3 %

NASDAQ:INDV traded down $0.38 during mid-day trading on Wednesday, hitting $11.02. 1,320,617 shares of the company traded hands, compared to its average volume of 1,149,231. The stock's fifty day moving average price is $11.82 and its 200-day moving average price is $11.06. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of -275.43 and a beta of 0.73. Indivior has a one year low of $7.33 and a one year high of $23.22.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Iron Triangle Partners LP bought a new stake in Indivior during the third quarter valued at about $8,243,000. Krensavage Asset Management LLC bought a new stake in Indivior during the 3rd quarter valued at approximately $6,843,000. Millennium Management LLC lifted its holdings in Indivior by 48.1% in the 2nd quarter. Millennium Management LLC now owns 493,313 shares of the company's stock worth $7,952,000 after purchasing an additional 160,282 shares in the last quarter. Stonepine Capital Management LLC bought a new position in Indivior in the 3rd quarter worth approximately $2,632,000. Finally, Clark Estates Inc. NY bought a new position in Indivior in the 3rd quarter worth approximately $2,477,000. 60.33% of the stock is currently owned by institutional investors.

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.