Intec Pharma (NASDAQ:NTEC) Stock Price Down 10.8%

Intec Pharma Ltd (NASDAQ:NTEC)’s share price traded down 10.8% during trading on Wednesday . The stock traded as low as $1.10 and last traded at $1.16, 3,243,909 shares changed hands during mid-day trading. An increase of 234% from the average session volume of 970,667 shares. The stock had previously closed at $1.30.

Several equities research analysts have commented on the company. Maxim Group lowered Intec Pharma from a “buy” rating to a “hold” rating in a research report on Monday, July 22nd. ValuEngine upgraded Intec Pharma from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Oppenheimer lowered Intec Pharma from an “outperform” rating to a “market perform” rating in a research report on Monday, July 22nd. HC Wainwright lowered Intec Pharma from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 7th. Finally, LADENBURG THALM/SH SH restated a “hold” rating on shares of Intec Pharma in a research report on Monday, August 12th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Intec Pharma presently has an average rating of “Hold” and an average price target of $12.17.

The firm has a market capitalization of $38.08 million, a price-to-earnings ratio of -0.83 and a beta of -0.03. The company has a 50 day moving average price of $0.63 and a two-hundred day moving average price of $4.22.

In other Intec Pharma news, CEO Jeffrey A. Meckler bought 100,000 shares of Intec Pharma stock in a transaction dated Friday, August 23rd. The stock was acquired at an average cost of $0.46 per share, with a total value of $46,000.00. Following the purchase, the chief executive officer now directly owns 176,761 shares in the company, valued at approximately $81,310.06. The acquisition was disclosed in a filing with the SEC, which is available at this link. Over the last ninety days, insiders have bought 145,000 shares of company stock valued at $71,350. Corporate insiders own 3.30% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. River & Mercantile Asset Management LLP acquired a new position in shares of Intec Pharma during the 2nd quarter worth approximately $1,230,000. Morgan Stanley raised its stake in shares of Intec Pharma by 38.4% during the 2nd quarter. Morgan Stanley now owns 81,931 shares of the biotechnology company’s stock worth $356,000 after buying an additional 22,715 shares during the period. Renaissance Technologies LLC acquired a new position in shares of Intec Pharma during the 2nd quarter worth approximately $593,000. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of Intec Pharma by 25.9% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 729,193 shares of the biotechnology company’s stock worth $3,165,000 after buying an additional 150,000 shares during the period. Finally, JPMorgan Chase & Co. acquired a new position in shares of Intec Pharma during the 2nd quarter worth approximately $125,000. 35.51% of the stock is owned by institutional investors and hedge funds.

About Intec Pharma (NASDAQ:NTEC)

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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