Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Shares Sold by Alberta Investment Management Corp

Alberta Investment Management Corp decreased its position in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI - Free Report) by 46.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,100 shares of the biopharmaceutical company's stock after selling 4,500 shares during the period. Alberta Investment Management Corp's holdings in Intra-Cellular Therapies were worth $426,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. Wasatch Advisors LP increased its stake in Intra-Cellular Therapies by 3.5% in the 3rd quarter. Wasatch Advisors LP now owns 3,848,588 shares of the biopharmaceutical company's stock worth $281,601,000 after acquiring an additional 130,351 shares during the last quarter. Bellevue Group AG lifted its stake in shares of Intra-Cellular Therapies by 0.6% during the 3rd quarter. Bellevue Group AG now owns 2,485,627 shares of the biopharmaceutical company's stock worth $181,873,000 after purchasing an additional 14,342 shares during the last quarter. State Street Corp boosted its holdings in shares of Intra-Cellular Therapies by 3.1% in the 3rd quarter. State Street Corp now owns 1,858,915 shares of the biopharmaceutical company's stock valued at $136,017,000 after buying an additional 56,664 shares in the last quarter. Franklin Resources Inc. grew its holdings in Intra-Cellular Therapies by 9.7% in the third quarter. Franklin Resources Inc. now owns 1,753,286 shares of the biopharmaceutical company's stock worth $129,463,000 after purchasing an additional 155,655 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Intra-Cellular Therapies by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,708,301 shares of the biopharmaceutical company's stock valued at $125,029,000 after buying an additional 22,128 shares in the last quarter. Hedge funds and other institutional investors own 92.33% of the company's stock.

Analysts Set New Price Targets

ITCI has been the topic of several research reports. Leerink Partnrs downgraded Intra-Cellular Therapies from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 13th. Canaccord Genuity Group lowered shares of Intra-Cellular Therapies from a "buy" rating to a "hold" rating and upped their price target for the company from $119.00 to $132.00 in a report on Friday, January 31st. Mizuho cut Intra-Cellular Therapies from an "outperform" rating to a "neutral" rating and decreased their price objective for the company from $140.00 to $132.00 in a report on Monday. Piper Sandler restated a "neutral" rating and issued a $132.00 target price (up previously from $107.00) on shares of Intra-Cellular Therapies in a research note on Tuesday, January 14th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $132.00 price target (up from $108.00) on shares of Intra-Cellular Therapies in a research report on Wednesday, January 22nd. Ten equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Intra-Cellular Therapies presently has an average rating of "Hold" and an average target price of $106.08.

Insider Buying and Selling

In other Intra-Cellular Therapies news, CEO Sharon Mates sold 51,000 shares of the company's stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $85.80, for a total transaction of $4,375,800.00. Following the completion of the sale, the chief executive officer now directly owns 1,070,329 shares in the company, valued at $91,834,228.20. This represents a 4.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 2.60% of the company's stock.

Intra-Cellular Therapies Price Performance

Shares of NASDAQ:ITCI traded down $0.15 during trading on Wednesday, reaching $128.43. The company had a trading volume of 551,112 shares, compared to its average volume of 3,953,448. Intra-Cellular Therapies, Inc. has a fifty-two week low of $63.30 and a fifty-two week high of $129.00. The firm has a market capitalization of $13.66 billion, a price-to-earnings ratio of -147.62 and a beta of 0.72. The stock's fifty day moving average price is $111.97 and its 200 day moving average price is $90.60.

Intra-Cellular Therapies (NASDAQ:ITCI - Get Free Report) last issued its quarterly earnings results on Friday, February 21st. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.08). Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. The business had revenue of $199.22 million during the quarter, compared to analyst estimates of $205.08 million. On average, equities analysts anticipate that Intra-Cellular Therapies, Inc. will post -0.64 EPS for the current fiscal year.

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.