River & Mercantile Asset Management LLP Invests $1.23 Million in Intec Pharma Ltd (NASDAQ:NTEC)
River & Mercantile Asset Management LLP bought a new position in Intec Pharma Ltd (NASDAQ:NTEC) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 283,434 shares of the biotechnology company’s stock, valued at approximately $1,230,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Marshall Wace North America L.P. purchased a new stake in Intec Pharma in the 1st quarter worth approximately $117,000. JPMorgan Chase & Co. purchased a new stake in Intec Pharma in the 2nd quarter worth approximately $125,000. Private Advisors LLC purchased a new stake in Intec Pharma in the 1st quarter worth approximately $225,000. Morgan Stanley increased its holdings in Intec Pharma by 38.4% in the 2nd quarter. Morgan Stanley now owns 81,931 shares of the biotechnology company’s stock worth $356,000 after acquiring an additional 22,715 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in Intec Pharma in the 2nd quarter worth approximately $593,000. 35.51% of the stock is owned by institutional investors.
In other Intec Pharma news, CEO Jeffrey A. Meckler bought 100,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was purchased at an average cost of $0.46 per share, with a total value of $46,000.00. Following the completion of the acquisition, the chief executive officer now owns 176,761 shares in the company, valued at approximately $81,310.06. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders purchased 145,000 shares of company stock valued at $71,350. 3.30% of the stock is currently owned by insiders.
Intec Pharma (NASDAQ:NTEC) last announced its quarterly earnings data on Friday, August 9th. The biotechnology company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.02). On average, equities research analysts predict that Intec Pharma Ltd will post -0.98 earnings per share for the current year.
A number of equities research analysts have issued reports on the stock. ValuEngine raised shares of Intec Pharma from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. HC Wainwright lowered shares of Intec Pharma from a “buy” rating to a “neutral” rating in a report on Wednesday, August 7th. LADENBURG THALM/SH SH reaffirmed a “hold” rating on shares of Intec Pharma in a report on Monday, August 12th. Maxim Group lowered shares of Intec Pharma from a “buy” rating to a “hold” rating in a report on Monday, July 22nd. Finally, Zacks Investment Research lowered shares of Intec Pharma from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $12.90.
About Intec Pharma
Intec Pharma Ltd., a clinical stage biopharmaceutical company, focuses on developing drugs based on its proprietary Accordion Pill platform technology in Israel. Its Accordion Pill is an oral drug delivery system that is designed to enhance the efficacy and safety of existing drugs and drugs in development by utilizing a gastric retention and specific release mechanism.
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