Algert Global LLC Reduces Stock Position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Algert Global LLC decreased its position in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI - Free Report) by 31.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,350 shares of the biopharmaceutical company's stock after selling 20,990 shares during the quarter. Algert Global LLC's holdings in Intra-Cellular Therapies were worth $3,318,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Perceptive Advisors LLC raised its position in shares of Intra-Cellular Therapies by 62.6% in the 2nd quarter. Perceptive Advisors LLC now owns 1,716,407 shares of the biopharmaceutical company's stock worth $117,557,000 after acquiring an additional 661,052 shares in the last quarter. Millennium Management LLC raised its position in shares of Intra-Cellular Therapies by 214.5% in the 2nd quarter. Millennium Management LLC now owns 889,102 shares of the biopharmaceutical company's stock worth $60,895,000 after acquiring an additional 606,358 shares in the last quarter. Avoro Capital Advisors LLC raised its position in shares of Intra-Cellular Therapies by 21.2% in the 2nd quarter. Avoro Capital Advisors LLC now owns 3,000,000 shares of the biopharmaceutical company's stock worth $205,470,000 after acquiring an additional 525,000 shares in the last quarter. Marshall Wace LLP bought a new position in shares of Intra-Cellular Therapies in the 2nd quarter worth about $34,178,000. Finally, Hood River Capital Management LLC bought a new position in shares of Intra-Cellular Therapies in the 2nd quarter worth about $33,390,000. Institutional investors and hedge funds own 92.33% of the company's stock.

Intra-Cellular Therapies Stock Performance

ITCI stock traded up $1.44 during midday trading on Tuesday, reaching $86.43. 285,067 shares of the company's stock traded hands, compared to its average volume of 851,510. The company has a 50-day moving average price of $79.45 and a two-hundred day moving average price of $74.98. Intra-Cellular Therapies, Inc. has a 52 week low of $58.14 and a 52 week high of $93.45. The firm has a market capitalization of $9.16 billion, a PE ratio of -99.23 and a beta of 0.97.

Intra-Cellular Therapies (NASDAQ:ITCI - Get Free Report) last issued its earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.18) by ($0.07). 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 $175.40 million for the quarter, compared to the consensus estimate of $172.30 million. During the same period in the previous year, the firm earned ($0.25) EPS. The company's revenue was up 39.0% compared to the same quarter last year. As a group, analysts predict that Intra-Cellular Therapies, Inc. will post -0.64 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ITCI has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $100.00 target price on shares of Intra-Cellular Therapies in a research report on Wednesday, October 30th. Piper Sandler raised Intra-Cellular Therapies from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $68.00 to $92.00 in a research report on Friday, September 6th. JPMorgan Chase & Co. boosted their target price on Intra-Cellular Therapies from $81.00 to $89.00 and gave the company an "overweight" rating in a research report on Monday, November 4th. The Goldman Sachs Group cut their price target on Intra-Cellular Therapies from $77.00 to $74.00 and set a "neutral" rating for the company in a research note on Thursday, August 8th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $130.00 price target on shares of Intra-Cellular Therapies in a research note on Monday, September 16th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $97.23.

Insider Transactions at Intra-Cellular Therapies

In other Intra-Cellular Therapies news, President Michael Halstead sold 22,869 shares of the company's stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $89.12, for a total transaction of $2,038,085.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sharon Mates sold 34,396 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $72.84, for a total transaction of $2,505,404.64. Following the sale, the chief executive officer now owns 1,070,329 shares of the company's stock, valued at approximately $77,962,764.36. This represents a 3.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.60% of the company's stock.

About Intra-Cellular Therapies

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.