Renaissance Technologies LLC Makes New Investment in Intec Pharma Ltd (NASDAQ:NTEC)

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Renaissance Technologies LLC purchased a new position in Intec Pharma Ltd (NASDAQ:NTEC) during the 2nd quarter, HoldingsChannel reports. The firm purchased 136,601 shares of the biotechnology company’s stock, valued at approximately $593,000.

A number of other institutional investors have also modified their holdings of the business. Marshall Wace North America L.P. bought a new stake in Intec Pharma in the first quarter worth about $117,000. JPMorgan Chase & Co. bought a new stake in Intec Pharma in the second quarter worth about $125,000. Private Advisors LLC bought a new stake in Intec Pharma in the first quarter worth about $225,000. Migdal Insurance & Financial Holdings Ltd. raised its position in Intec Pharma by 25.9% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 729,193 shares of the biotechnology company’s stock worth $3,165,000 after acquiring an additional 150,000 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. raised its position in Intec Pharma by 1,335.5% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 624,809 shares of the biotechnology company’s stock worth $2,711,000 after acquiring an additional 581,283 shares in the last quarter. Hedge funds and other institutional investors own 35.51% of the company’s stock.

NASDAQ NTEC opened at $0.73 on Friday. The stock’s 50-day moving average price is $0.80 and its two-hundred day moving average price is $3.47. Intec Pharma Ltd has a 1 year low of $0.41 and a 1 year high of $9.25.

Intec Pharma (NASDAQ:NTEC) last posted its quarterly earnings data on Friday, August 9th. The biotechnology company reported ($0.30) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.28) by ($0.02). On average, sell-side analysts expect that Intec Pharma Ltd will post -0.98 earnings per share for the current year.

Several equities research analysts have commented on the stock. LADENBURG THALM/SH SH reiterated a “hold” rating on shares of Intec Pharma in a research report on Monday, August 12th. HC Wainwright cut shares of Intec Pharma from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 7th. Zacks Investment Research cut shares of Intec Pharma from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Roth Capital downgraded Intec Pharma from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $10.00 to $1.00 in a report on Friday. Finally, Maxim Group downgraded Intec Pharma from a “buy” rating to a “hold” rating in a report on Monday, July 22nd. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $10.92.

In related news, CEO Jeffrey A. Meckler acquired 100,000 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were purchased at an average price of $0.46 per share, for a total transaction of $46,000.00. Following the acquisition, the chief executive officer now owns 176,761 shares in the company, valued at $81,310.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders have acquired 145,000 shares of company stock worth $71,350. Corporate insiders own 3.30% of the company’s stock.

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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Want to see what other hedge funds are holding NTEC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intec Pharma Ltd (NASDAQ:NTEC).

Institutional Ownership by Quarter for Intec Pharma (NASDAQ:NTEC)

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