ARK Investment Management LLC bought a new position in Intec Pharma (NASDAQ:NTEC) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 107,761 shares of the biotechnology company’s stock, valued at approximately $609,000.

Other institutional investors have also recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. bought a new position in Intec Pharma in the second quarter worth about $132,000. JPMorgan Chase & Co. bought a new position in Intec Pharma in the first quarter worth about $138,000. Jane Street Group LLC bought a new position in Intec Pharma in the first quarter worth about $185,000. PNC Financial Services Group Inc. bought a new position in Intec Pharma in the second quarter worth about $220,000. Finally, Renaissance Technologies LLC raised its holdings in Intec Pharma by 484.3% in the second quarter. Renaissance Technologies LLC now owns 88,898 shares of the biotechnology company’s stock worth $391,000 after purchasing an additional 73,684 shares in the last quarter. Institutional investors and hedge funds own 47.01% of the company’s stock.

NTEC opened at $5.90 on Wednesday. Intec Pharma has a 52-week low of $3.55 and a 52-week high of $7.50. The stock has a market cap of $193.34 million, a PE ratio of -3.58 and a beta of 0.71.

Intec Pharma (NASDAQ:NTEC) last posted its quarterly earnings data on Friday, November 9th. The biotechnology company reported ($0.28) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.31) by $0.03. Sell-side analysts forecast that Intec Pharma will post -1.36 EPS for the current year.

Several equities analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Intec Pharma from a “buy” rating to a “hold” rating in a report on Thursday, November 8th. Oppenheimer set a $15.00 price objective on shares of Intec Pharma and gave the company a “buy” rating in a report on Wednesday, August 15th. HC Wainwright set a $16.00 price objective on shares of Intec Pharma and gave the company a “buy” rating in a report on Wednesday, October 24th. Finally, Roth Capital assumed coverage on shares of Intec Pharma in a report on Friday, October 5th. They set a “buy” rating and a $8.50 price objective on the stock. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $11.40.

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Intec Pharma Profile

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.

Further Reading: Asset Allocation

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

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