Insider Buying: Inotiv, Inc. (NASDAQ:NOTV) Director Purchases 23,529 Shares of Stock

Inotiv, Inc. (NASDAQ:NOTV) Director David Landman purchased 23,529 shares of the business’s stock in a transaction dated Thursday, December 19th. The shares were purchased at an average price of $4.25 per share, with a total value of $99,998.25. Following the purchase, the director now directly owns 176,851 shares in the company, valued at $751,616.75. This trade represents a 15.35 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Inotiv Stock Performance

NOTV stock traded down $0.14 during midday trading on Monday, reaching $3.94. 668,585 shares of the company’s stock traded hands, compared to its average volume of 444,718. The company has a 50-day moving average price of $3.07 and a two-hundred day moving average price of $2.19. The firm has a market capitalization of $102.50 million, a PE ratio of -0.94 and a beta of 3.62. The company has a debt-to-equity ratio of 2.29, a quick ratio of 1.22 and a current ratio of 1.37. Inotiv, Inc. has a 52 week low of $1.23 and a 52 week high of $11.42.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Inotiv

Several hedge funds and other institutional investors have recently modified their holdings of NOTV. KPP Advisory Services LLC increased 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 acquiring an additional 10,347 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Inotiv by 29.9% in the 2nd quarter. Renaissance Technologies LLC now owns 164,164 shares of the company’s stock worth $273,000 after purchasing an additional 37,800 shares in the last quarter. King Luther Capital Management Corp boosted its holdings 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 in the last quarter. American Century Companies Inc. increased its position in shares of 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 during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of 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 buying an additional 18,039 shares in the last quarter. 18.17% of the stock is currently owned by institutional investors.

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.