Inotek Pharmaceuticals Corporation (NASDAQ:ITEK) shares were up 7.5% during trading on Monday . The stock traded as high as $2.98 and last traded at $2.72. Approximately 439,500 shares changed hands during trading, a decline of 62% from the average daily volume of 1,168,454 shares. The stock had previously closed at $2.53.

Separately, Zacks Investment Research downgraded Inotek Pharmaceuticals Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, September 12th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Inotek Pharmaceuticals Corporation presently has a consensus rating of “Hold” and a consensus target price of $3.80.

The company has a debt-to-equity ratio of 0.97, a current ratio of 27.63 and a quick ratio of 27.63.

Large investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its holdings 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 acquiring an additional 43,131 shares during the period. LMR Partners LLP purchased a new position in shares of Inotek Pharmaceuticals Corporation in the 2nd quarter valued at $126,000. Boothbay Fund Management LLC increased its holdings in shares of Inotek Pharmaceuticals Corporation by 94.0% in the 3rd quarter. Boothbay Fund Management LLC now owns 139,731 shares of the biotechnology company’s stock valued at $249,000 after acquiring an additional 67,687 shares during the period. GSA Capital Partners LLP increased its holdings 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 acquiring an additional 6,500 shares during the period. Finally, Sabby Management LLC increased its holdings 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 acquiring an additional 111,721 shares during the period. Institutional investors and hedge funds own 24.98% of the company’s stock.

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About Inotek Pharmaceuticals Corporation

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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