Summers Value Partners: “Inotiv (NOTV) is Positioned to Weather the Storm”

Summers Value Partners, an asset management company, released its “The Summers Value Fund LP” second quarter 2022 investor letter. A copy of the same can be downloaded here. In the first half of 2022, the fund returned -25.9% net of all expenses. The overall market condition affected the performance of the fund and it underperformed compared to all benchmark indexes. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

In the second quarter investor letter, Summers Value Partners discussed stocks like Inotiv, Inc. (NASDAQ:NOTV). Headquartered in West Lafayette, Indiana, Inotiv, Inc. (NASDAQ:NOTV) is a research and development company that provides drug discovery and development services. On September 1, 2022, Inotiv, Inc. (NASDAQ:NOTV) stock closed at $19.93 per share. One-month return of Inotiv, Inc. (NASDAQ:NOTV) was 8.20% and its shares lost 31.49% of their value over the last 52 weeks. Inotiv, Inc. (NASDAQ:NOTV) has a market capitalization of $510.098 million.

Here is what Summers Value Partners specifically said about Inotiv, Inc. (NASDAQ:NOTV):

“The biggest detractors during the first half of 2022 were Inotiv, Inc. (NASDAQ:NOTV) and Electromed (ELMD). The perception of a slowing R&D funding environment for small pharmaceutical and biotechnology companies weighed on Inotiv’s share price. While the funding environment certainly has become more difficult, Inotiv is highly diversified with over 3,000 clients including academic centers and other clinical research organizations (CRO). Pre-commercial clients only represent 20% of its sales mix. Additionally, Inotiv is a market share gainer in the CRO industry as it benefits from its intense focus on the customer experience. As such, we believe the company is positioned to weather the storm. We continue to own shares of Inotiv; however, we reduced the position size in the first quarter.”

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Inotiv, Inc. (NASDAQ:NOTV) is not on the list of 30 Most Popular Stocks Among Hedge Funds. As per our database, Inotiv, Inc. (NASDAQ:NOTV) was held by 14 hedge fund portfolios at the end of the second quarter, which was 15 in the previous quarter.

We discussed Inotiv, Inc. (NASDAQ:NOTV) in another article and shared Headwaters Capital’s views on the company. You can check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other prominent investors.

Disclosure: None. This article is originally published at Insider Monkey.