Inotiv, Inc. (NASDAQ:NOTV) Position Boosted by Two Sigma Advisers LP

Two Sigma Advisers LP increased its holdings in Inotiv, Inc. (NASDAQ:NOTV) by 31.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,500 shares of the company’s stock after buying an additional 5,400 shares during the quarter. Two Sigma Advisers LP owned about 0.09% of Inotiv worth $93,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Balyasny Asset Management L.P. boosted its stake in Inotiv by 7,714.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,303,741 shares of the company’s stock valued at $5,397,000 after purchasing an additional 1,287,058 shares in the last quarter. Kennedy Capital Management LLC bought a new position in Inotiv during the 4th quarter valued at $5,250,000. Millennium Management LLC boosted its stake in Inotiv by 553.7% during the 4th quarter. Millennium Management LLC now owns 287,899 shares of the company’s stock valued at $1,192,000 after purchasing an additional 243,860 shares in the last quarter. Marshall Wace LLP bought a new position in Inotiv during the 4th quarter valued at $737,000. Finally, Renaissance Technologies LLC boosted its stake in Inotiv by 77.9% during the 4th quarter. Renaissance Technologies LLC now owns 304,254 shares of the company’s stock valued at $1,260,000 after purchasing an additional 133,190 shares in the last quarter. 18.17% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Lake Street Capital decreased their price target on Inotiv from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Thursday, May 8th.

Inotiv Stock Performance

Shares of NASDAQ NOTV opened at $2.69 on Monday. The stock has a fifty day moving average price of $2.17 and a two-hundred day moving average price of $3.27. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.28 and a current ratio of 1.57. The firm has a market cap of $92.41 million, a P/E ratio of -0.58 and a beta of 4.08. Inotiv, Inc. has a 1 year low of $1.15 and a 1 year high of $6.48.

Inotiv (NASDAQ:NOTV) last issued its earnings results on Wednesday, May 7th. The company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.06. The business had revenue of $124.32 million during the quarter, compared to analysts’ expectations of $123.97 million. Inotiv had a negative return on equity of 15.41% and a negative net margin of 25.40%. Research analysts forecast that Inotiv, Inc. will post -0.79 EPS for the current fiscal year.

Inotiv 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.