Inotiv, Inc. (NASDAQ:NOTV) Director Purchases $31,950.00 in Stock

Inotiv, Inc. (NASDAQ:NOTV) Director Nigel Brown bought 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was acquired at an average cost of $4.26 per share, for a total transaction of $31,950.00. Following the completion of the purchase, the director now directly owns 65,537 shares of the company’s stock, valued at $279,187.62. The trade was a 12.92 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Inotiv Stock Up 23.5 %

Shares of NASDAQ:NOTV traded up $0.92 during trading on Tuesday, hitting $4.84. The stock had a trading volume of 2,411,409 shares, compared to its average volume of 376,578. The company has a market capitalization of $125.91 million, a PE ratio of -0.94 and a beta of 3.62. The company has a quick ratio of 1.22, a current ratio of 1.37 and a debt-to-equity ratio of 2.29. The firm’s fifty day moving average is $2.53 and its 200 day moving average is $2.01. Inotiv, Inc. has a 12 month low of $1.23 and a 12 month high of $11.42.

Analyst Upgrades and Downgrades

Separately, Lake Street Capital upgraded shares of Inotiv from a “hold” rating to a “buy” rating and upped their price objective for the stock from $2.00 to $4.00 in a report on Monday, September 30th.

Hedge Funds Weigh In On Inotiv

Institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC boosted its stake in Inotiv by 29.9% during the second quarter. Renaissance Technologies LLC now owns 164,164 shares of the company’s stock worth $273,000 after acquiring an additional 37,800 shares in the last quarter. King Luther Capital Management Corp raised its position in shares of Inotiv by 101.4% in the 2nd quarter. King Luther Capital Management Corp now owns 198,600 shares of the company’s stock worth $330,000 after purchasing an additional 100,000 shares during the last quarter. KPP Advisory Services LLC boosted its stake in Inotiv by 4.5% in the 2nd quarter. KPP Advisory Services LLC now owns 238,138 shares of the company’s stock worth $395,000 after purchasing an additional 10,347 shares in the last quarter. Geode Capital Management LLC grew its position in Inotiv by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 250,895 shares of the company’s stock valued at $427,000 after purchasing an additional 18,039 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in Inotiv by 109.6% during the 2nd quarter. American Century Companies Inc. now owns 295,589 shares of the company’s stock valued at $491,000 after purchasing an additional 154,541 shares in the last quarter. Institutional investors own 18.17% of the company’s stock.

About Inotiv

Inotiv, Inc provides nonclinical and analytical drug discovery and development services to the pharmaceutical and medical device industries. It operates through two segment: Discovery and Safety Assessment (DSA), and Research Models and Services (RMS). The DMS segment manufactured scientific instruments for life sciences research and the related software for use by pharmaceutical companies, universities, government research centers, and medical research institutions under the Company's BASi product line.