Stock Traders Buy High Volume of Call Options on Inotiv (NASDAQ:NOTV)

Inotiv, Inc. (NASDAQ:NOTV) was the target of unusually large options trading activity on Tuesday. Traders purchased 5,192 call options on the stock. This represents an increase of 2,063% compared to the typical daily volume of 240 call options.

Inotiv Trading Up 9.1 %

Shares of NASDAQ:NOTV traded up $0.36 during trading on Tuesday, reaching $4.30. 451,267 shares of the company traded hands, compared to its average volume of 444,371. The company has a current ratio of 1.37, a quick ratio of 1.22 and a debt-to-equity ratio of 2.29. Inotiv has a 52-week low of $1.23 and a 52-week high of $11.42. The firm has a market capitalization of $111.86 million, a price-to-earnings ratio of -1.03 and a beta of 3.62. The business’s fifty day moving average is $3.11 and its 200-day moving average is $2.21.

Insiders Place Their Bets

In other Inotiv news, Director David Landman acquired 23,529 shares of the business’s stock in a transaction dated Thursday, December 19th. The stock was bought at an average price of $4.25 per share, with a total value of $99,998.25. Following the completion of the acquisition, the director now owns 176,851 shares of the company’s stock, valued at $751,616.75. This trade represents a 15.35 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Michael J. Harrington bought 10,000 shares of the company’s stock in a transaction on Friday, December 6th. The shares were bought at an average price of $3.98 per share, with a total value of $39,800.00. Following the completion of the transaction, the director now owns 37,500 shares of the company’s stock, valued at $149,250. The trade was a 36.36 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 71,029 shares of company stock worth $314,248 in the last three months. 5.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Inotiv

Several institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in shares of Inotiv by 7.7% during the third quarter. Geode Capital Management LLC now owns 250,895 shares of the company’s stock worth $427,000 after purchasing an additional 18,039 shares during the period. KPP Advisory Services LLC lifted its holdings 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 buying an additional 10,347 shares during the period. King Luther Capital Management Corp increased its stake in shares of Inotiv by 101.4% during the second quarter. King Luther Capital Management Corp now owns 198,600 shares of the company’s stock valued at $330,000 after buying an additional 100,000 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Inotiv by 29.9% during the second quarter. Renaissance Technologies LLC now owns 164,164 shares of the company’s stock valued at $273,000 after acquiring an additional 37,800 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in Inotiv by 109.6% in the second quarter. American Century Companies Inc. now owns 295,589 shares of the company’s stock worth $491,000 after acquiring an additional 154,541 shares during the period. Hedge funds and other institutional investors own 18.17% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Inotiv Company Profile

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.