David Landman Purchases 23,529 Shares of Inotiv, Inc. (NASDAQ:NOTV) Stock

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

Inotiv Stock Performance

Inotiv stock opened at $4.53 on Thursday. Inotiv, Inc. has a fifty-two week low of $1.23 and a fifty-two week high of $11.42. The stock’s 50 day simple moving average is $3.22 and its two-hundred day simple moving average is $2.24. The company has a debt-to-equity ratio of 2.29, a quick ratio of 1.22 and a current ratio of 1.37. The stock has a market cap of $117.85 million, a price-to-earnings ratio of -1.08 and a beta of 3.62.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC grew its stake in 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 purchasing an additional 37,800 shares during the period. King Luther Capital Management Corp boosted its holdings in shares of Inotiv by 101.4% during the 2nd 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 in the last quarter. KPP Advisory Services LLC grew its position in shares of 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. Geode Capital Management LLC increased its stake 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 acquiring an additional 18,039 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in 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 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 raised shares of Inotiv from a “hold” rating to a “buy” rating and boosted their price objective for the company from $2.00 to $4.00 in a research 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.