Two Sigma Investments LP Raises Holdings in Inotiv, Inc. (NASDAQ:NOTV)

Two Sigma Investments LP boosted its stake in shares of Inotiv, Inc. (NASDAQ:NOTV) by 67.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 71,689 shares of the company’s stock after purchasing an additional 28,965 shares during the quarter. Two Sigma Investments LP owned approximately 0.28% of Inotiv worth $297,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in Inotiv during the 4th quarter worth about $60,000. Virtu Financial LLC purchased a new stake in Inotiv during the 4th quarter worth about $76,000. Dimensional Fund Advisors LP increased its holdings in Inotiv by 24.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 31,626 shares of the company’s stock worth $131,000 after purchasing an additional 6,216 shares during the period. LPL Financial LLC purchased a new stake in Inotiv during the 4th quarter worth about $136,000. Finally, AlphaCentric Advisors LLC purchased a new stake in Inotiv during the 4th quarter worth about $163,000. Hedge funds and other institutional investors own 18.17% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Lake Street Capital cut their price target on Inotiv from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Thursday, May 8th.

Inotiv Trading Down 5.6%

NOTV opened at $2.84 on Wednesday. Inotiv, Inc. has a one year low of $1.15 and a one year high of $6.48. The company has a market cap of $97.56 million, a P/E ratio of -0.62 and a beta of 4.08. 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 business’s 50-day simple moving average is $2.18 and its 200-day simple moving average is $3.26.

Inotiv (NASDAQ:NOTV) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.18) EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.06. Inotiv had a negative return on equity of 15.41% and a negative net margin of 25.40%. The business had revenue of $124.32 million for the quarter, compared to the consensus estimate of $123.97 million. As a group, equities research analysts expect that Inotiv, Inc. will post -0.79 EPS for the current fiscal year.

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.