Nigel Brown Acquires 7,500 Shares of Inotiv, Inc. (NASDAQ:NOTV) Stock

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

Inotiv Stock Up 23.5 %

NASDAQ:NOTV opened at $4.84 on Wednesday. The firm’s 50-day moving average price is $2.59 and its 200-day moving average price is $2.03. The company has a market capitalization of $125.91 million, a PE ratio of -1.16 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 1-year low of $1.23 and a 1-year high of $11.42.

Institutional Trading of Inotiv

A number of hedge funds and other institutional investors have recently modified their holdings of NOTV. American Century Companies Inc. grew its position 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 buying an additional 154,541 shares during the period. King Luther Capital Management Corp grew 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 buying an additional 100,000 shares during the period. Renaissance Technologies LLC grew its position 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 buying an additional 37,800 shares during the period. 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, KPP Advisory Services LLC grew 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 valued at $395,000 after purchasing an additional 10,347 shares during the last quarter. 18.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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.

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.