First Turn Management LLC Has $18.64 Million Stock Holdings in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

First Turn Management LLC trimmed its position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI - Free Report) by 26.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 254,800 shares of the biopharmaceutical company's stock after selling 92,543 shares during the quarter. Intra-Cellular Therapies accounts for 3.0% of First Turn Management LLC's holdings, making the stock its 10th biggest holding. First Turn Management LLC owned 0.24% of Intra-Cellular Therapies worth $18,644,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ITCI. Summit Securities Group LLC acquired a new stake in Intra-Cellular Therapies during the second quarter valued at $56,000. Capital Performance Advisors LLP acquired a new position in Intra-Cellular Therapies in the third quarter worth approximately $74,000. CWM LLC raised its holdings in Intra-Cellular Therapies by 83.9% in the 2nd quarter. CWM LLC now owns 1,372 shares of the biopharmaceutical company's stock worth $94,000 after acquiring an additional 626 shares during the period. Covestor Ltd boosted its position in Intra-Cellular Therapies by 40.4% in the third quarter. Covestor Ltd now owns 1,811 shares of the biopharmaceutical company's stock valued at $133,000 after buying an additional 521 shares in the last quarter. Finally, EntryPoint Capital LLC increased its stake in Intra-Cellular Therapies by 138.7% in the first quarter. EntryPoint Capital LLC now owns 2,167 shares of the biopharmaceutical company's stock valued at $150,000 after purchasing an additional 1,259 shares in the last quarter. Institutional investors and hedge funds own 92.33% of the company's stock.

Analyst Upgrades and Downgrades

ITCI has been the subject of several research analyst reports. Royal Bank of Canada lifted their price objective on shares of Intra-Cellular Therapies from $106.00 to $108.00 and gave the company an "outperform" rating in a research note on Friday, October 4th. Piper Sandler raised Intra-Cellular Therapies from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $68.00 to $92.00 in a research note on Friday, September 6th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $130.00 price objective on shares of Intra-Cellular Therapies in a research note on Monday, September 16th. The Goldman Sachs Group decreased their price objective on Intra-Cellular Therapies from $77.00 to $74.00 and set a "neutral" rating for the company in a report on Thursday, August 8th. Finally, Morgan Stanley raised their price target on shares of Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an "overweight" rating in a research note on Friday, October 11th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, Intra-Cellular Therapies has an average rating of "Moderate Buy" and a consensus target price of $97.23.

Intra-Cellular Therapies Price Performance

Shares of ITCI traded up $0.88 during mid-day trading on Tuesday, reaching $83.35. The stock had a trading volume of 698,665 shares, compared to its average volume of 862,086. The business's fifty day moving average is $78.43 and its 200 day moving average is $74.40. The firm has a market cap of $8.84 billion, a price-to-earnings ratio of -95.75 and a beta of 0.97. Intra-Cellular Therapies, Inc. has a 52-week low of $56.83 and a 52-week high of $93.45.

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

Insider Transactions at Intra-Cellular Therapies

In related news, President Michael Halstead sold 22,869 shares of the firm's stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $89.12, for a total transaction of $2,038,085.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sharon Mates sold 34,396 shares of the business's stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $72.84, for a total transaction of $2,505,404.64. Following the completion of the sale, the chief executive officer now directly owns 1,070,329 shares in the company, valued at $77,962,764.36. This trade represents a 3.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 179,471 shares of company stock worth $13,670,383. Company insiders own 2.60% of the company's stock.

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.