Indivior PLC (NASDAQ:INDV) Short Interest Up 23.6% in October

Indivior PLC (NASDAQ:INDV) saw a significant growth in short interest during the month of October. As of October 15th, there was short interest totalling 990,200 shares, a growth of 23.6% from the September 30th total of 800,900 shares. Approximately 0.8% of the company’s stock are sold short. Based on an average trading volume of 942,800 shares, the days-to-cover ratio is currently 1.1 days.

Indivior Stock Performance

INDV traded up $0.14 on Wednesday, reaching $9.30. The company had a trading volume of 507,498 shares, compared to its average volume of 453,124. The stock has a 50-day moving average price of $9.99 and a 200-day moving average price of $13.56. The stock has a market capitalization of $1.28 billion, a PE ratio of 930.00 and a beta of 0.68. The company has a quick ratio of 0.68, a current ratio of 0.85 and a debt-to-equity ratio of 23.50. Indivior has a 1 year low of $7.33 and a 1 year high of $23.22.

Indivior (NASDAQ:INDV) last announced its earnings results on Thursday, October 24th. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.15. Indivior had a negative net margin of 12.29% and a negative return on equity of 654.82%. The business had revenue of $307.00 million for the quarter, compared to analysts’ expectations of $302.25 million. As a group, research analysts forecast that Indivior will post 1.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Piper Sandler reissued an “overweight” rating and issued a $16.00 target price (up previously from $15.00) on shares of Indivior in a report on Friday, October 25th. Craig Hallum dropped their price objective on Indivior from $20.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, October 11th.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp purchased a new position in Indivior during the second quarter worth about $188,000. VELA Investment Management LLC purchased a new position in Indivior in the second quarter worth $235,000. XTX Topco Ltd acquired a new stake in Indivior in the second quarter valued at $249,000. Cubist Systematic Strategies LLC lifted its holdings in Indivior by 32.0% in the second quarter. Cubist Systematic Strategies LLC now owns 25,236 shares of the company’s stock valued at $407,000 after acquiring an additional 6,121 shares during the period. Finally, Forsta AP Fonden purchased a new stake in shares of Indivior during the 1st quarter worth $641,000. Institutional investors and hedge funds own 60.33% of the company’s stock.

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.