Y Intercept Hong Kong Ltd Trims Holdings in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Y Intercept Hong Kong Ltd reduced its holdings in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI - Free Report) by 82.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,651 shares of the biopharmaceutical company's stock after selling 62,349 shares during the period. Y Intercept Hong Kong Ltd's holdings in Intra-Cellular Therapies were worth $999,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in ITCI. Avior Wealth Management LLC lifted its holdings in shares of Intra-Cellular Therapies by 3.0% in the 3rd 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 during the last quarter. EFG Asset Management North America Corp. lifted its stake in shares of Intra-Cellular Therapies by 0.5% during the 2nd quarter. EFG Asset Management North America Corp. now owns 34,452 shares of the biopharmaceutical company's stock worth $2,357,000 after acquiring an additional 163 shares during the last quarter. Assetmark Inc. boosted its holdings in Intra-Cellular Therapies by 9.1% during the 3rd quarter. Assetmark Inc. now owns 2,477 shares of the biopharmaceutical company's stock valued at $181,000 after acquiring an additional 207 shares during the period. State of New Jersey Common Pension Fund D grew its position in 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 acquiring an additional 223 shares during the last quarter. Finally, US Bancorp DE increased its stake in Intra-Cellular Therapies by 3.3% in the third quarter. US Bancorp DE now owns 7,951 shares of the biopharmaceutical company's stock worth $582,000 after purchasing an additional 251 shares during the period. 92.33% of the stock is currently owned by institutional investors.

Intra-Cellular Therapies Stock Performance

NASDAQ ITCI traded down $0.37 during mid-day trading on Friday, reaching $83.03. 366,547 shares of the stock were exchanged, compared to its average volume of 828,507. The business's 50 day moving average is $82.23 and its 200-day moving average is $76.57. Intra-Cellular Therapies, Inc. has a 1 year low of $62.78 and a 1 year 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 net margin of 14.07% and a negative return on equity of 9.93%. The business had revenue of $175.40 million for the quarter, compared to analysts' expectations of $172.30 million. During the same period in the prior year, the company posted ($0.25) EPS. The firm's revenue was up 39.0% on a year-over-year basis. On average, research analysts predict that Intra-Cellular Therapies, Inc. will post -0.64 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Insider Activity at Intra-Cellular Therapies

In other news, President Michael Halstead sold 22,869 shares of the company's stock in a transaction dated Tuesday, November 12th. The shares were 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 through this hyperlink. Also, CEO Sharon Mates sold 51,000 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer now directly owns 1,070,329 shares in the company, valued at approximately $91,834,228.20. This represents a 4.55 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by company insiders.

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.