Inotiv, Inc. (NASDAQ:NOTV) Director Michael J. Harrington Acquires 10,000 Shares

Inotiv, Inc. (NASDAQ:NOTV) Director Michael J. Harrington purchased 10,000 shares of the company’s stock in a transaction on Friday, December 6th. The stock was acquired at an average cost of $3.98 per share, for a total transaction of $39,800.00. Following the completion of the transaction, the director now owns 37,500 shares in the company, valued at approximately $149,250. This trade represents a 36.36 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link.

Inotiv Trading Down 5.4 %

NOTV stock opened at $4.72 on Friday. The company has a current ratio of 1.37, a quick ratio of 1.22 and a debt-to-equity ratio of 2.29. The firm has a market cap of $122.79 million, a P/E ratio of -1.13 and a beta of 3.62. Inotiv, Inc. has a 1-year low of $1.23 and a 1-year high of $11.42. The business’s 50 day moving average is $2.70 and its 200-day moving average is $2.07.

Analyst Ratings Changes

Separately, Lake Street Capital raised Inotiv from a “hold” rating to a “buy” rating and raised their target price for the stock from $2.00 to $4.00 in a research report on Monday, September 30th.

Institutional Trading of Inotiv

Hedge funds have recently modified their holdings of the company. Geode Capital Management LLC boosted its stake in Inotiv by 7.7% in 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 in the last quarter. KPP Advisory Services LLC lifted its position in Inotiv by 4.5% during 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 in the last quarter. King Luther Capital Management Corp increased its position in Inotiv by 101.4% in the 2nd quarter. King Luther Capital Management Corp now owns 198,600 shares of the company’s stock valued at $330,000 after acquiring an additional 100,000 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Inotiv by 29.9% in 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 during the last quarter. Finally, American Century Companies Inc. lifted its position in shares of Inotiv by 109.6% during the second quarter. American Century Companies Inc. now owns 295,589 shares of the company’s stock worth $491,000 after purchasing an additional 154,541 shares in the last quarter. Institutional investors and hedge funds own 18.17% of the company’s stock.

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.