Inotiv, Inc. (NASDAQ:NOTV) COO Purchases $142,500.00 in Stock

Inotiv, Inc. (NASDAQ:NOTV) COO John Gregory Beattie bought 30,000 shares of Inotiv stock in a transaction dated Tuesday, December 10th. The stock was acquired at an average price of $4.75 per share, with a total value of $142,500.00. Following the completion of the transaction, the chief operating officer now directly owns 161,761 shares of the company’s stock, valued at approximately $768,364.75. The trade was a 22.77 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

Inotiv Price Performance

Shares of NASDAQ:NOTV opened at $4.72 on Friday. Inotiv, Inc. has a 52-week low of $1.23 and a 52-week high of $11.42. The business has a fifty day moving average of $2.70 and a two-hundred day moving average of $2.07. The company has a debt-to-equity ratio of 2.29, a quick ratio of 1.22 and a current ratio of 1.37.

Wall Street Analyst Weigh In

Separately, Lake Street Capital upgraded shares of Inotiv from a “hold” rating to a “buy” rating and increased their price objective for the company from $2.00 to $4.00 in a report on Monday, September 30th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC raised its stake in Inotiv by 29.9% during 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 lifted its stake 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 valued at $330,000 after purchasing an additional 100,000 shares during the last quarter. KPP Advisory Services LLC grew its holdings in shares of 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 purchasing an additional 10,347 shares during the period. Geode Capital Management LLC increased its position in shares of Inotiv by 7.7% during the 3rd 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 during the last quarter. Finally, American Century Companies Inc. raised its holdings in Inotiv by 109.6% in the 2nd quarter. American Century Companies Inc. now owns 295,589 shares of the company’s stock valued at $491,000 after buying an additional 154,541 shares during the period. Institutional investors and hedge funds 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.