Indivior (NASDAQ:INDV) Shares Gap Down – Time to Sell?

Indivior PLC (NASDAQ:INDV) shares gapped down before the market opened on Thursday . The stock had previously closed at $11.02, but opened at $10.40. Indivior shares last traded at $10.49, with a volume of 88,375 shares traded.

Analyst Ratings Changes

INDV has been the subject of several research analyst reports. Piper Sandler restated an “overweight” rating and issued a $16.00 price objective (up previously from $15.00) on shares of Indivior in a research report on Friday, October 25th. Craig Hallum lowered their price target on shares of 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 upgraded Indivior to a “strong-buy” rating in a research note on Tuesday, January 28th. Finally, Rodman & Renshaw initiated coverage on shares of Indivior in a research note on Tuesday, January 28th. They issued a “buy” rating and a $16.00 target price for the company.

Indivior Trading Down 10.0 %

The company has a fifty day moving average of $11.80 and a two-hundred day moving average of $11.06.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Amundi increased its position in shares of Indivior by 12.2% during the fourth quarter. Amundi now owns 174,434 shares of the company’s stock worth $2,109,000 after acquiring an additional 19,010 shares in the last quarter. Clark Estates Inc. NY grew its position in shares of Indivior by 1.3% during the 4th quarter. Clark Estates Inc. NY now owns 257,400 shares of the company’s stock valued at $3,199,000 after acquiring an additional 3,300 shares during the period. VELA Investment Management LLC increased its position in Indivior by 45.5% in the fourth quarter. VELA Investment Management LLC now owns 179,659 shares of the company’s stock worth $2,264,000 after buying an additional 56,224 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in Indivior in the 4th quarter valued at about $56,000. Finally, China Universal Asset Management Co. Ltd. purchased a new stake in shares of Indivior during the 4th quarter valued at approximately $359,000. 60.33% of the stock is 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.