Bank of New York Mellon Corp Sells 27,123 Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Bank of New York Mellon Corp lessened its holdings in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 7.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 349,148 shares of the biopharmaceutical company’s stock after selling 27,123 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.33% of Intra-Cellular Therapies worth $23,913,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ITCI. Avoro Capital Advisors LLC purchased a new stake in Intra-Cellular Therapies in the fourth quarter worth $161,543,000. Norges Bank purchased a new stake in Intra-Cellular Therapies in the fourth quarter worth $85,744,000. Vanguard Group Inc. grew its stake in Intra-Cellular Therapies by 6.5% in the fourth quarter. Vanguard Group Inc. now owns 9,094,302 shares of the biopharmaceutical company’s stock worth $651,334,000 after purchasing an additional 554,577 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in Intra-Cellular Therapies in the first quarter worth $18,379,000. Finally, Farallon Capital Management LLC purchased a new stake in Intra-Cellular Therapies in the first quarter worth $15,985,000. Institutional investors own 92.33% of the company’s stock.

Intra-Cellular Therapies Price Performance

Intra-Cellular Therapies stock opened at $72.66 on Thursday. Intra-Cellular Therapies, Inc. has a one year low of $45.50 and a one year high of $84.89. The stock has a market capitalization of $7.67 billion, a PE ratio of -62.64 and a beta of 1.01. The business’s fifty day moving average is $74.95 and its 200 day moving average is $71.17.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.03. Intra-Cellular Therapies had a negative return on equity of 11.48% and a negative net margin of 14.93%. The company had revenue of $161.40 million for the quarter, compared to analysts’ expectations of $157.74 million. During the same period last year, the firm posted ($0.45) earnings per share. Intra-Cellular Therapies’s revenue was up 45.7% compared to the same quarter last year. As a group, sell-side analysts expect that Intra-Cellular Therapies, Inc. will post -0.59 EPS for the current fiscal year.

Insider Activity at Intra-Cellular Therapies

In other Intra-Cellular Therapies news, CEO Sharon Mates sold 53,013 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $75.65, for a total value of $4,010,433.45. Following the transaction, the chief executive officer now owns 1,070,329 shares of the company’s stock, valued at $80,970,388.85. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Intra-Cellular Therapies news, CEO Sharon Mates sold 53,013 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $75.65, for a total value of $4,010,433.45. Following the transaction, the chief executive officer now owns 1,070,329 shares of the company’s stock, valued at $80,970,388.85. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Nostrand Robert L. Van sold 20,000 shares of the stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $75.91, for a total value of $1,518,200.00. Following the completion of the transaction, the director now directly owns 9,690 shares in the company, valued at approximately $735,567.90. The disclosure for this sale can be found here. Insiders have sold 199,778 shares of company stock valued at $14,892,738 over the last ninety days. Insiders own 3.40% of the company’s stock.

Analyst Upgrades and Downgrades

ITCI has been the topic of several recent research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price target on shares of Intra-Cellular Therapies in a research note on Wednesday, August 7th. UBS Group reduced their price target on Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Cantor Fitzgerald increased their target price on Intra-Cellular Therapies from $120.00 to $130.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. The Goldman Sachs Group cut their target price on Intra-Cellular Therapies from $77.00 to $74.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Finally, Mizuho increased their target price on Intra-Cellular Therapies from $96.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Intra-Cellular Therapies presently has an average rating of “Moderate Buy” and an average target price of $97.00.

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.