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

Inotiv, Inc. (NASDAQ:NOTV) Director Nigel Brown acquired 7,500 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were purchased at an average cost of $4.26 per share, for a total transaction of $31,950.00. Following the completion of the acquisition, the director now directly owns 65,537 shares in the company, valued at approximately $279,187.62. This represents a 12.92 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Inotiv Trading Up 3.1 %

NOTV opened at $4.99 on Thursday. The stock has a 50-day moving average of $2.65 and a 200 day moving average of $2.05. The company has a current ratio of 1.37, a quick ratio of 1.22 and a debt-to-equity ratio of 2.29. Inotiv, Inc. has a 12 month low of $1.23 and a 12 month high of $11.42. The firm has a market cap of $129.81 million, a P/E ratio of -1.19 and a beta of 3.62.

Institutional Investors Weigh In On Inotiv

Several institutional investors have recently modified their holdings of NOTV. Vanguard Group Inc. raised its holdings in Inotiv by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 1,043,460 shares of the company’s stock valued at $11,415,000 after buying an additional 10,146 shares during the period. American Century Companies Inc. boosted its stake in 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 buying an additional 154,541 shares during the period. Renaissance Technologies LLC increased its position in Inotiv by 29.9% during the second quarter. Renaissance Technologies LLC now owns 164,164 shares of the company’s stock valued at $273,000 after acquiring an additional 37,800 shares during the last quarter. King Luther Capital Management Corp raised its stake in shares of Inotiv by 101.4% in the second 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 during the period. Finally, KPP Advisory Services LLC lifted its holdings 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 acquiring an additional 10,347 shares during the last quarter. 18.17% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Lake Street Capital upgraded 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 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.