Intec Pharma Ltd (NASDAQ:NTEC) saw unusually-high trading volume on Tuesday after an insider bought additional shares in the company. Approximately 2,768,525 shares changed hands during mid-day trading, an increase of 329% from the previous session’s volume of 645,697 shares.The stock last traded at $0.52 and had previously closed at $0.45.
Specifically, CEO Jeffrey A. Meckler purchased 100,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was acquired at an average price of $0.46 per share, for a total transaction of $46,000.00. Following the completion of the purchase, the chief executive officer now directly owns 176,761 shares of the company’s stock, valued at $81,310.06. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 3.30% of the stock is owned by corporate insiders.
A number of brokerages recently weighed in on NTEC. Oppenheimer lowered Intec Pharma from an “outperform” rating to a “market perform” rating in a report on Monday, July 22nd. ValuEngine raised Intec Pharma from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. LADENBURG THALM/SH SH reaffirmed a “hold” rating on shares of Intec Pharma in a report on Monday, August 12th. Zacks Investment Research raised Intec Pharma from a “sell” rating to a “hold” rating and set a $6.50 price objective on the stock in a report on Tuesday, May 7th. Finally, Maxim Group lowered Intec Pharma from a “buy” rating to a “hold” rating in a report on Monday, July 22nd. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $12.17.
Institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in Intec Pharma in the fourth quarter valued at $67,000. Marshall Wace North America L.P. acquired a new stake in Intec Pharma in the first quarter valued at $117,000. JPMorgan Chase & Co. acquired a new stake in Intec Pharma in the second quarter valued at $125,000. Delek Group Ltd. acquired a new stake in Intec Pharma in the first quarter valued at $154,000. Finally, Sigma Planning Corp acquired a new stake in Intec Pharma in the first quarter valued at $183,000. 37.96% of the stock is currently owned by institutional investors.
Intec Pharma Company Profile (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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