Inotiv, Inc. (NASDAQ:NOTV) Director Purchases $39,800.00 in Stock

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

Inotiv Trading Up 3.2 %

NASDAQ:NOTV traded up $0.12 during mid-day trading on Tuesday, reaching $3.92. 523,918 shares of the company’s stock traded hands, compared to its average volume of 368,565. The company has a 50 day moving average price of $2.53 and a 200-day moving average price of $2.01. The firm has a market capitalization of $101.98 million, a price-to-earnings ratio of -0.94 and a beta of 3.62. The company has a debt-to-equity ratio of 2.29, a current ratio of 1.37 and a quick ratio of 1.22. Inotiv, Inc. has a 12-month low of $1.23 and a 12-month high of $11.42.

Analysts Set New Price Targets

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

Institutional Trading of Inotiv

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