Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its holdings in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI - Free Report) by 7.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 550,963 shares of the biopharmaceutical company's stock after selling 46,750 shares during the quarter. Principal Financial Group Inc. owned 0.52% of Intra-Cellular Therapies worth $46,020,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Raymond James & Associates grew its holdings in shares of Intra-Cellular Therapies by 2.8% in the third quarter. Raymond James & Associates now owns 158,852 shares of the biopharmaceutical company's stock worth $11,623,000 after purchasing an additional 4,325 shares during the last quarter. Lecap Asset Management Ltd. bought a new stake in Intra-Cellular Therapies during the third quarter worth about $499,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Intra-Cellular Therapies by 21.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,822 shares of the biopharmaceutical company's stock worth $280,000 after purchasing an additional 670 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Intra-Cellular Therapies by 185.6% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 8,810 shares of the biopharmaceutical company's stock worth $645,000 after acquiring an additional 5,725 shares in the last quarter. Finally, abrdn plc boosted its stake in Intra-Cellular Therapies by 7.5% in the 3rd quarter. abrdn plc now owns 250,963 shares of the biopharmaceutical company's stock worth $18,363,000 after purchasing an additional 17,612 shares in the last quarter. 92.33% of the stock is owned by institutional investors.

Intra-Cellular Therapies Price Performance

ITCI stock traded up $0.06 during mid-day trading on Friday, reaching $128.60. The company had a trading volume of 1,263,662 shares, compared to its average volume of 4,192,701. The company has a market capitalization of $13.67 billion, a PE ratio of -147.81 and a beta of 0.72. The firm has a 50 day moving average of $110.27 and a 200 day moving average of $89.64. Intra-Cellular Therapies, Inc. has a 12 month low of $62.78 and a 12 month high of $128.77.

Intra-Cellular Therapies (NASDAQ:ITCI - Get Free Report) last announced 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%. Analysts anticipate that Intra-Cellular Therapies, Inc. will post -0.64 EPS for the current year.

Insider Activity

In other news, CEO Sharon Mates sold 51,000 shares of Intra-Cellular Therapies stock in a transaction on 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 approximately $91,834,228.20. The trade was a 4.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 2.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ITCI. Baird R W cut Intra-Cellular Therapies from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 13th. Cantor Fitzgerald upgraded Intra-Cellular Therapies from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 14th. Royal Bank of Canada restated a "sector perform" rating and set a $132.00 target price (up previously from $108.00) on shares of Intra-Cellular Therapies in a research note on Wednesday, January 22nd. Canaccord Genuity Group cut Intra-Cellular Therapies from a "buy" rating to a "hold" rating and raised their price target for the company from $119.00 to $132.00 in a report on Friday, January 31st. Finally, Piper Sandler reiterated a "neutral" rating and set a $132.00 price objective (up previously from $107.00) on shares of Intra-Cellular Therapies in a research report on Tuesday, January 14th. Nine research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $103.62.

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.