Traders Buy Large Volume of Inotiv Call Options (NASDAQ:NOTV)

Inotiv, Inc. (NASDAQ:NOTV) was the target of unusually large options trading activity on Tuesday. Traders purchased 5,192 call options on the stock. This is an increase of 2,063% compared to the average daily volume of 240 call options.

Inotiv Stock Up 15.0 %

NOTV stock opened at $4.53 on Thursday. The company has a market cap of $117.85 million, a price-to-earnings ratio of -1.08 and a beta of 3.62. Inotiv has a twelve month low of $1.23 and a twelve month high of $11.42. The business has a 50 day moving average price of $3.22 and a two-hundred day moving average price of $2.24. The company has a quick ratio of 1.22, a current ratio of 1.37 and a debt-to-equity ratio of 2.29.

Analyst Ratings Changes

Separately, Lake Street Capital raised 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 note on Monday, September 30th.

Insider Buying and Selling

In other 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, with a total value of $142,500.00. Following the completion of the transaction, the chief operating officer now directly 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David Landman acquired 23,529 shares of the firm’s stock in a transaction on Thursday, December 19th. The shares were bought at an average cost of $4.25 per share, for a total transaction of $99,998.25. Following the completion of the acquisition, the director now directly owns 176,851 shares of the company’s stock, valued at approximately $751,616.75. This represents a 15.35 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders bought 71,029 shares of company stock valued at $314,248. Company insiders own 5.80% of the company’s stock.

Hedge Funds Weigh In On Inotiv

Several large investors have recently modified their holdings of NOTV. American Century Companies Inc. lifted its position 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 purchasing an additional 154,541 shares during the period. King Luther Capital Management Corp grew 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 worth $330,000 after purchasing an additional 100,000 shares during the last quarter. 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 valued at $273,000 after buying an additional 37,800 shares during the last quarter. Geode Capital Management LLC increased 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 period. Finally, KPP Advisory Services LLC increased its position 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 worth $395,000 after buying an additional 10,347 shares during the period. 18.17% of the stock is owned by institutional investors.

Inotiv Company Profile

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.