Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Shares Sold by Point72 Asset Management L.P.

Point72 Asset Management L.P. decreased its stake in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI - Free Report) by 78.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 119,862 shares of the biopharmaceutical company's stock after selling 434,324 shares during the quarter. Point72 Asset Management L.P. owned about 0.11% of Intra-Cellular Therapies worth $8,770,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. True Wealth Design LLC purchased a new position in Intra-Cellular Therapies during the third quarter worth $32,000. Summit Securities Group LLC bought a new position in Intra-Cellular Therapies during the 2nd quarter valued at about $56,000. Capital Performance Advisors LLP bought a new position in Intra-Cellular Therapies during the 3rd quarter valued at about $74,000. CWM LLC raised its position 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 purchasing an additional 626 shares during the period. Finally, Covestor Ltd lifted its stake in Intra-Cellular Therapies by 40.4% in the third quarter. Covestor Ltd now owns 1,811 shares of the biopharmaceutical company's stock worth $133,000 after purchasing an additional 521 shares during the last quarter. Institutional investors own 92.33% of the company's stock.

Insider Transactions at Intra-Cellular Therapies

In other Intra-Cellular Therapies 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 value of $2,038,085.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sharon Mates sold 51,000 shares of the firm's stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $85.80, for a total value of $4,375,800.00. Following the completion of the transaction, the chief executive officer now owns 1,070,329 shares of the company's stock, valued at $91,834,228.20. This trade represents a 4.55 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.60% of the company's stock.

Intra-Cellular Therapies Stock Up 0.5 %

Shares of NASDAQ ITCI traded up $0.46 during mid-day trading on Friday, reaching $84.55. 274,762 shares of the company were exchanged, compared to its average volume of 515,732. The firm has a 50-day moving average of $81.34 and a 200 day moving average of $76.22. Intra-Cellular Therapies, Inc. has a 1 year low of $58.92 and a 1 year high of $93.45. The stock has a market cap of $8.96 billion, a price-to-earnings ratio of -97.18 and a beta of 0.95.

Intra-Cellular Therapies (NASDAQ:ITCI - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, missing analysts' consensus estimates of ($0.18) by ($0.07). The firm had revenue of $175.40 million during the quarter, compared to the consensus estimate of $172.30 million. Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. The firm's quarterly revenue was up 39.0% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.25) earnings per share. On average, equities analysts forecast that Intra-Cellular Therapies, Inc. will post -0.64 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ITCI shares. Morgan Stanley increased their price target on Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an "overweight" rating in a report on Friday, October 11th. Cantor Fitzgerald reiterated an "overweight" rating and set a $130.00 target price on shares of Intra-Cellular Therapies in a research report on Monday, September 16th. Needham & Company LLC reiterated a "buy" rating and set a $100.00 price objective on shares of Intra-Cellular Therapies in a report on Wednesday, October 30th. Piper Sandler raised shares of Intra-Cellular Therapies from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $68.00 to $92.00 in a research report on Friday, September 6th. Finally, Royal Bank of Canada raised their target price on shares of Intra-Cellular Therapies from $106.00 to $108.00 and gave the stock an "outperform" rating in a research report on Friday, October 4th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $97.23.

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.