Indivior (NASDAQ:INDV) Trading Down 4.7% – Here’s Why

Indivior PLC (NASDAQ:INDV) shares dropped 4.7% during trading on Wednesday . The company traded as low as $10.92 and last traded at $10.86. Approximately 350,553 shares traded hands during trading, a decline of 68% from the average daily volume of 1,104,098 shares. The stock had previously closed at $11.40.

Analysts Set New Price Targets

INDV has been the topic of a number of research analyst reports. RODMAN&RENSHAW raised shares of Indivior to a “strong-buy” rating in a research report on Tuesday, January 28th. Rodman & Renshaw started coverage on shares of Indivior in a research report on Tuesday, January 28th. They issued a “buy” rating and a $16.00 target price for the company. Piper Sandler reissued an “overweight” rating and issued a $16.00 target price (up from $15.00) on shares of Indivior in a research report on Friday, October 25th. Finally, Craig Hallum decreased their target price on shares of Indivior from $20.00 to $16.00 and set a “buy” rating for the company in a research report on Friday, October 11th.

Indivior Price Performance

The stock’s 50 day moving average price is $11.82 and its two-hundred day moving average price is $11.06. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of -275.06 and a beta of 0.73.

Hedge Funds Weigh In On Indivior

Several large investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Indivior in the 4th quarter valued at $56,000. Stifel Financial Corp bought a new stake in shares of Indivior in the 3rd quarter worth about $100,000. Melqart Asset Management UK Ltd bought a new stake in shares of Indivior in the 3rd quarter worth about $132,000. Jane Street Group LLC bought a new stake in shares of Indivior in the 3rd quarter worth about $180,000. Finally, Cubist Systematic Strategies LLC grew its holdings in shares of Indivior by 32.0% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 25,236 shares of the company’s stock worth $407,000 after purchasing an additional 6,121 shares during the last quarter. 60.33% of the stock is currently owned by institutional investors and hedge funds.

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.