Balyasny Asset Management L.P. Has $5.40 Million Stake in Inotiv, Inc. (NASDAQ:NOTV)

Balyasny Asset Management L.P. lifted its position in Inotiv, Inc. (NASDAQ:NOTV - Free Report) by 7,714.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,303,741 shares of the company's stock after purchasing an additional 1,287,058 shares during the quarter. Balyasny Asset Management L.P. owned 5.01% of Inotiv worth $5,397,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of NOTV. Northern Trust Corp grew its position in Inotiv by 20.2% in the fourth quarter. Northern Trust Corp now owns 48,372 shares of the company's stock valued at $200,000 after acquiring an additional 8,134 shares during the period. Dimensional Fund Advisors LP grew its position in Inotiv by 24.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 31,626 shares of the company's stock valued at $131,000 after acquiring an additional 6,216 shares during the period. Marshall Wace LLP bought a new stake in Inotiv in the fourth quarter valued at $737,000. XTX Topco Ltd bought a new stake in Inotiv in the fourth quarter valued at $236,000. Finally, Mariner LLC grew its position in Inotiv by 32.0% in the fourth quarter. Mariner LLC now owns 121,816 shares of the company's stock valued at $504,000 after acquiring an additional 29,500 shares during the period. 18.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insider Activity at Inotiv

In related news, CEO Robert Jr. Leasure sold 73,617 shares of the firm's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $3.82, for a total value of $281,216.94. Following the transaction, the chief executive officer now owns 956,592 shares in the company, valued at $3,654,181.44. This trade represents a 7.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 81,439 shares of company stock worth $312,475 over the last 90 days. Insiders own 7.80% of the company's stock.

Inotiv Price Performance

Shares of NOTV stock traded up $0.11 during trading hours on Friday, hitting $2.14. 387,291 shares of the company's stock were exchanged, compared to its average volume of 545,278. The stock's 50-day moving average is $2.24 and its 200-day moving average is $3.27. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.57 and a quick ratio of 1.28. The stock has a market cap of $73.34 million, a price-to-earnings ratio of -0.46 and a beta of 4.03. Inotiv, Inc. has a 52 week low of $1.15 and a 52 week high of $6.48.

Inotiv (NASDAQ:NOTV - Get Free Report) last announced 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 company had revenue of $124.32 million for 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%. As a group, research analysts forecast that Inotiv, Inc. will post -0.79 EPS for the current 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.