Allspring Global Investments Holdings LLC Boosts Stake in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Allspring Global Investments Holdings LLC raised its position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI - Free Report) by 1,443.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,631 shares of the biopharmaceutical company's stock after acquiring an additional 26,776 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Intra-Cellular Therapies were worth $2,412,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Avior Wealth Management LLC raised its stake in shares of Intra-Cellular Therapies by 3.0% in the third quarter. Avior Wealth Management LLC now owns 4,473 shares of the biopharmaceutical company's stock valued at $327,000 after acquiring an additional 131 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Intra-Cellular Therapies by 1.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,951 shares of the biopharmaceutical company's stock valued at $748,000 after acquiring an additional 141 shares in the last quarter. Pallas Capital Advisors LLC raised its holdings in Intra-Cellular Therapies by 6.4% in the fourth quarter. Pallas Capital Advisors LLC now owns 3,182 shares of the biopharmaceutical company's stock valued at $266,000 after acquiring an additional 192 shares in the last quarter. Assetmark Inc. lifted its stake in Intra-Cellular Therapies by 9.1% in the third quarter. Assetmark Inc. now owns 2,477 shares of the biopharmaceutical company's stock worth $181,000 after acquiring an additional 207 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D increased its position in shares of Intra-Cellular Therapies by 0.6% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 35,673 shares of the biopharmaceutical company's stock valued at $2,610,000 after purchasing an additional 223 shares during the last quarter. 92.33% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Sharon Mates sold 51,000 shares of Intra-Cellular Therapies stock in a transaction dated Wednesday, December 4th. The shares were 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. The trade was a 4.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.60% of the stock is currently owned by company insiders.

Intra-Cellular Therapies Stock Performance

ITCI traded down $0.05 on Tuesday, hitting $128.53. 1,466,076 shares of the company were exchanged, compared to its average volume of 4,048,619. Intra-Cellular Therapies, Inc. has a fifty-two week low of $63.30 and a fifty-two week high of $128.77. The firm has a market capitalization of $13.67 billion, a P/E ratio of -147.73 and a beta of 0.72. The business's fifty day moving average is $111.14 and its 200 day moving average is $90.22.

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

Analyst Upgrades and Downgrades

ITCI has been the topic of a number of analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Intra-Cellular Therapies from $81.00 to $89.00 and gave the company an "overweight" rating in a report on Monday, November 4th. Leerink Partnrs cut Intra-Cellular Therapies from a "strong-buy" rating to a "hold" rating in a research note on Monday, January 13th. Piper Sandler reiterated a "neutral" rating and issued a $132.00 price target (up from $107.00) on shares of Intra-Cellular Therapies in a research note on Tuesday, January 14th. Needham & Company LLC reiterated a "hold" rating on shares of Intra-Cellular Therapies in a research note on Friday. Finally, Canaccord Genuity Group downgraded shares of Intra-Cellular Therapies from a "buy" rating to a "hold" rating and upped their price objective for the company from $119.00 to $132.00 in a research note on Friday, January 31st. Ten investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $106.08.

Intra-Cellular Therapies 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.