Jennison Associates LLC bought a new stake in Inotek Pharmaceuticals Corporation (NASDAQ:ITEK) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,556,714 shares of the biotechnology company’s stock, valued at approximately $2,771,000. Jennison Associates LLC owned approximately 5.72% of Inotek Pharmaceuticals Corporation at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Goldman Sachs Group Inc. raised its position in shares of Inotek Pharmaceuticals Corporation by 276.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 58,758 shares of the biotechnology company’s stock valued at $118,000 after buying an additional 43,131 shares in the last quarter. LMR Partners LLP acquired a new position in shares of Inotek Pharmaceuticals Corporation in the 2nd quarter valued at approximately $126,000. GSA Capital Partners LLP raised its position in shares of Inotek Pharmaceuticals Corporation by 4.3% in the 2nd quarter. GSA Capital Partners LLP now owns 156,300 shares of the biotechnology company’s stock valued at $297,000 after buying an additional 6,500 shares in the last quarter. Finally, Sabby Management LLC raised its position in shares of Inotek Pharmaceuticals Corporation by 110.7% in the 2nd quarter. Sabby Management LLC now owns 212,651 shares of the biotechnology company’s stock valued at $404,000 after buying an additional 111,721 shares in the last quarter. Institutional investors own 24.98% of the company’s stock.
Separately, Zacks Investment Research lowered shares of Inotek Pharmaceuticals Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, September 12th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Inotek Pharmaceuticals Corporation currently has an average rating of “Hold” and a consensus price target of $3.80.
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Shares of Inotek Pharmaceuticals Corporation (NASDAQ ITEK) opened at $2.47 on Friday. The company has a current ratio of 27.63, a quick ratio of 27.63 and a debt-to-equity ratio of 0.97. Inotek Pharmaceuticals Corporation has a 1-year low of $0.85 and a 1-year high of $7.40.
Inotek Pharmaceuticals Corporation Profile
Inotek Pharmaceuticals Corporation is a clinical-stage biopharmaceutical company. The Company is focused on the discovery, development and commercialization of therapies for glaucoma and other diseases of the eye. Its lead product candidate, trabodenoson, is a selective adenosine mimetic that the Company has designed to lower intraocular pressure (IOP) by restoring the eye’s natural pressure control mechanism.
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