Boothbay Fund Management LLC raised its stake in Inotek Pharmaceuticals Corp (NASDAQ:ITEK) by 94.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 139,731 shares of the biotechnology company’s stock after buying an additional 67,687 shares during the period. Boothbay Fund Management LLC owned 0.51% of Inotek Pharmaceuticals worth $249,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of the business. Jennison Associates LLC acquired a new stake in Inotek Pharmaceuticals in the third quarter valued at approximately $2,771,000. Sabby Management LLC boosted its position in Inotek Pharmaceuticals by 110.7% in the second 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. Goldman Sachs Group Inc. boosted its position in Inotek Pharmaceuticals by 195.6% in the second quarter. Goldman Sachs Group Inc. now owns 173,690 shares of the biotechnology company’s stock valued at $330,000 after buying an additional 114,932 shares in the last quarter. GSA Capital Partners LLP boosted its position in Inotek Pharmaceuticals by 4.3% in the second 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, LMR Partners LLP acquired a new stake in Inotek Pharmaceuticals in the second quarter valued at approximately $126,000. Hedge funds and other institutional investors own 37.07% of the company’s stock.
Separately, Zacks Investment Research downgraded shares of Inotek Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, September 12th.
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Inotek Pharmaceuticals Company 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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