Wasatch Advisors Inc. raised its stake in shares of Intra-Cellular Therapies Inc. (NASDAQ:ITCI) by 18.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,970,181 shares of the biopharmaceutical company’s stock after buying an additional 310,668 shares during the period. Wasatch Advisors Inc. owned approximately 3.71% of Intra-Cellular Therapies worth $31,089,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. acquired a new position in shares of Intra-Cellular Therapies in the 3rd quarter worth approximately $101,000. SG Americas Securities LLC acquired a new position in shares of Intra-Cellular Therapies in the 2nd quarter worth approximately $103,000. Quantbot Technologies LP grew its stake in shares of Intra-Cellular Therapies by 233.1% in the 3rd quarter. Quantbot Technologies LP now owns 8,614 shares of the biopharmaceutical company’s stock worth $135,000 after purchasing an additional 6,028 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Intra-Cellular Therapies by 53.4% in the 1st quarter. Bank of America Corp DE now owns 9,660 shares of the biopharmaceutical company’s stock worth $157,000 after purchasing an additional 3,363 shares during the last quarter. Finally, Fred Alger Management Inc. acquired a new position in shares of Intra-Cellular Therapies in the 2nd quarter worth approximately $161,000. 61.10% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CEO Sharon Mates sold 18,750 shares of Intra-Cellular Therapies stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $15.75, for a total value of $295,312.50. Following the transaction, the chief executive officer now directly owns 1,107,457 shares of the company’s stock, valued at $17,442,447.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Alafi Capital Co Llc bought 258,065 shares of the company’s stock in a transaction dated Monday, October 2nd. The stock was purchased at an average cost of $15.50 per share, for a total transaction of $4,000,007.50. Following the completion of the transaction, the insider now owns 3,953,270 shares of the company’s stock, valued at $61,275,685. The disclosure for this purchase can be found here. Company insiders own 21.00% of the company’s stock.
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Intra-Cellular Therapies Inc. (NASDAQ:ITCI) traded down $0.47 during trading on Wednesday, hitting $15.70. 511,600 shares of the stock traded hands, compared to its average volume of 693,378. Intra-Cellular Therapies Inc. has a 1-year low of $7.85 and a 1-year high of $22.67.
Intra-Cellular Therapies (NASDAQ:ITCI) last released its earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.53) earnings per share for the quarter, hitting the consensus estimate of ($0.53). The business had revenue of $0.03 million for the quarter, compared to the consensus estimate of $0.06 million. Intra-Cellular Therapies had a negative net margin of 28,038.35% and a negative return on equity of 27.40%. The firm’s quarterly revenue was up 675.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.70) earnings per share. research analysts predict that Intra-Cellular Therapies Inc. will post -2.16 EPS for the current year.
Several equities analysts have recently issued reports on ITCI shares. Cowen and Company reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Intra-Cellular Therapies in a research note on Wednesday, August 23rd. Piper Jaffray Companies raised shares of Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $14.00 to $33.00 in a research note on Thursday, September 7th. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Intra-Cellular Therapies in a research note on Wednesday, August 9th. SunTrust Banks, Inc. raised shares of Intra-Cellular Therapies from a “hold” rating to a “buy” rating in a research note on Wednesday, November 8th. Finally, Leerink Swann raised shares of Intra-Cellular Therapies from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 23rd. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $25.00.
About Intra-Cellular Therapies
Intra-Cellular Therapies, Inc (ITI) is a biopharmaceutical company. The Company is focused on the discovery and clinical development of small molecule drugs that address underserved medical needs in neuropsychiatric and neurological disorders by targeting intracellular signaling mechanisms within the central nervous system (CNS).
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