Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Position Lessened by Covestor Ltd

Covestor Ltd lowered its stake in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 6.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,644 shares of the biopharmaceutical company’s stock after selling 184 shares during the quarter. Covestor Ltd’s holdings in Intra-Cellular Therapies were worth $183,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Intra-Cellular Therapies by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 9,225,981 shares of the biopharmaceutical company’s stock worth $638,438,000 after acquiring an additional 131,679 shares during the period. Wasatch Advisors LP grew its position in Intra-Cellular Therapies by 6.3% in the 1st quarter. Wasatch Advisors LP now owns 3,854,747 shares of the biopharmaceutical company’s stock valued at $266,748,000 after buying an additional 227,439 shares in the last quarter. Avoro Capital Advisors LLC acquired a new position in Intra-Cellular Therapies during the 4th quarter valued at about $161,543,000. Clearbridge Investments LLC lifted its stake in shares of Intra-Cellular Therapies by 10.7% in the 4th quarter. Clearbridge Investments LLC now owns 1,553,135 shares of the biopharmaceutical company’s stock worth $111,236,000 after acquiring an additional 149,534 shares during the period. Finally, Norges Bank acquired a new position in shares of Intra-Cellular Therapies during the fourth quarter valued at approximately $85,744,000. 92.33% of the stock is currently owned by institutional investors.

Intra-Cellular Therapies Stock Performance

ITCI traded up $1.55 during mid-day trading on Tuesday, reaching $78.03. The stock had a trading volume of 393,436 shares, compared to its average volume of 1,016,952. The stock has a market capitalization of $8.24 billion, a P/E ratio of -65.93 and a beta of 1.01. Intra-Cellular Therapies, Inc. has a 52 week low of $45.50 and a 52 week high of $84.89. The firm’s fifty day simple moving average is $70.48 and its two-hundred day simple moving average is $69.64.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its quarterly earnings data on Tuesday, May 7th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.15. The firm had revenue of $144.90 million during the quarter, compared to analysts’ expectations of $141.41 million. Intra-Cellular Therapies had a negative return on equity of 18.49% and a negative net margin of 21.57%. The company’s quarterly revenue was up 52.0% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.46) EPS. As a group, analysts expect that Intra-Cellular Therapies, Inc. will post -0.53 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on ITCI shares. JPMorgan Chase & Co. boosted their price objective on Intra-Cellular Therapies from $75.00 to $78.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 12th. Mizuho upped their price target on shares of Intra-Cellular Therapies from $96.00 to $100.00 and gave the company a “buy” rating in a report on Friday, June 21st. Canaccord Genuity Group lifted their price objective on shares of Intra-Cellular Therapies from $107.00 to $113.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. Royal Bank of Canada reissued an “outperform” rating and set a $103.00 target price on shares of Intra-Cellular Therapies in a research note on Tuesday, June 25th. Finally, TD Cowen lifted their price target on shares of Intra-Cellular Therapies from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $94.83.

Insider Buying and Selling at Intra-Cellular Therapies

In related news, Director Nostrand Robert L. Van sold 20,000 shares of Intra-Cellular Therapies stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $75.91, for a total transaction of $1,518,200.00. Following the completion of the sale, the director now directly owns 9,690 shares of the company’s stock, valued at $735,567.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Rory B. Riggs sold 4,462 shares of the firm’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $75.57, for a total transaction of $337,193.34. Following the sale, the director now owns 116,600 shares of the company’s stock, valued at approximately $8,811,462. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Nostrand Robert L. Van sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $75.91, for a total value of $1,518,200.00. Following the sale, the director now directly owns 9,690 shares in the company, valued at approximately $735,567.90. The disclosure for this sale can be found here. Corporate insiders own 3.40% of the company’s stock.

Intra-Cellular Therapies Company Profile

Intra-Cellular Therapies, Inc, a biopharmaceutical company, focuses on the discovery, clinical development, and commercialization of small molecule drugs that address medical needs primarily in neuropsychiatric and neurological disorders by targeting intracellular signaling mechanisms in the central nervous system (CNS) in the United States.