Point72 Hong Kong Ltd Sells 38,075 Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Point72 Hong Kong Ltd lowered its stake in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI - Free Report) by 85.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,293 shares of the biopharmaceutical company's stock after selling 38,075 shares during the quarter. Point72 Hong Kong Ltd's holdings in Intra-Cellular Therapies were worth $460,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of ITCI. True Wealth Design LLC bought a new position in shares of Intra-Cellular Therapies in the 3rd quarter worth about $32,000. Summit Securities Group LLC bought a new position in shares of Intra-Cellular Therapies during the second quarter valued at approximately $56,000. Capital Performance Advisors LLP purchased a new position in shares of Intra-Cellular Therapies during the third quarter valued at approximately $74,000. CWM LLC boosted its position in shares of 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 in the last quarter. Finally, Covestor Ltd grew its stake in shares of Intra-Cellular Therapies by 40.4% in the 3rd quarter. Covestor Ltd now owns 1,811 shares of the biopharmaceutical company's stock worth $133,000 after buying an additional 521 shares during the last quarter. 92.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Royal Bank of Canada boosted their target price on Intra-Cellular Therapies from $106.00 to $108.00 and gave the stock an "outperform" rating in a report on Friday, October 4th. The Goldman Sachs Group cut their price objective on shares of Intra-Cellular Therapies from $77.00 to $74.00 and set a "neutral" rating on the stock in a research report on Thursday, August 8th. Piper Sandler raised shares of Intra-Cellular Therapies from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $68.00 to $92.00 in a report on Friday, September 6th. Morgan Stanley increased their price target on shares of Intra-Cellular Therapies from $92.00 to $95.00 and gave the company an "overweight" rating in a report on Friday, October 11th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Intra-Cellular Therapies from $81.00 to $89.00 and gave the stock an "overweight" rating in a report on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $97.23.

Intra-Cellular Therapies Trading Down 0.8 %

ITCI stock traded down $0.72 during trading on Tuesday, reaching $85.31. The stock had a trading volume of 323,430 shares, compared to its average volume of 843,768. The stock's 50 day moving average is $80.67 and its two-hundred day moving average is $75.83. The firm has a market cap of $9.04 billion, a PE ratio of -98.06 and a beta of 0.95. Intra-Cellular Therapies, Inc. has a 52 week low of $58.92 and a 52 week high of $93.45.

Intra-Cellular Therapies (NASDAQ:ITCI - Get Free Report) last posted its quarterly earnings data 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 return on equity of 9.93% and a negative net margin of 14.07%. The business had revenue of $175.40 million during the quarter, compared to analysts' expectations of $172.30 million. During the same period in the previous year, the business posted ($0.25) EPS. The business's quarterly revenue was up 39.0% compared to the same quarter last year. On average, research analysts anticipate that Intra-Cellular Therapies, Inc. will post -0.64 EPS for the current year.

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 stock was sold at an average price of $89.12, for a total value of $2,038,085.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.60% of the company's stock.

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.