Investors Purchase High Volume of Inotiv Call Options (NASDAQ:NOTV)

Inotiv, Inc. (NASDAQ:NOTV) was the recipient of some unusual options trading on Tuesday. Stock investors bought 5,192 call options on the company. This represents an increase of approximately 2,063% compared to the average volume of 240 call options.

Insider Buying and Selling at Inotiv

In related news, COO John Gregory Beattie bought 30,000 shares of Inotiv stock in a transaction that occurred on Tuesday, December 10th. The stock was purchased at an average cost of $4.75 per share, for a total transaction of $142,500.00. Following the acquisition, the chief operating officer now owns 161,761 shares in the company, valued at $768,364.75. This trade represents a 22.77 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Michael J. Harrington purchased 10,000 shares of the stock in a transaction on Friday, December 6th. The shares were bought at an average price of $3.98 per share, for a total transaction of $39,800.00. Following the acquisition, the director now owns 37,500 shares of the company’s stock, valued at approximately $149,250. The trade was a 36.36 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 71,029 shares of company stock worth $314,248 over the last 90 days. 5.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Inotiv

Hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC raised its stake in shares of Inotiv by 29.9% in the second 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 increased its position in 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 acquiring an additional 100,000 shares in the last quarter. KPP Advisory Services LLC grew its stake in shares of 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 purchasing an additional 10,347 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Inotiv by 7.7% in the third 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 in the last quarter. Finally, American Century Companies Inc. raised its position in 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 purchasing an additional 154,541 shares during the last quarter. Institutional investors own 18.17% of the company’s stock.

Inotiv Stock Performance

NASDAQ:NOTV opened at $4.53 on Wednesday. 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 firm’s 50-day moving average is $3.11 and its 200-day moving average is $2.21. Inotiv has a 52-week low of $1.23 and a 52-week high of $11.42. The company has a market cap of $117.85 million, a price-to-earnings ratio of -1.08 and a beta of 3.62.

Analyst Upgrades and Downgrades

Separately, Lake Street Capital upgraded Inotiv from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $2.00 to $4.00 in a research note 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.