Simplify Asset Management Inc. Makes New $1.27 Million Investment in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Simplify Asset Management Inc. bought a new stake in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 18,537 shares of the biopharmaceutical company’s stock, valued at approximately $1,270,000.

A number of other hedge funds have also recently modified their holdings of ITCI. XTX Topco Ltd bought a new position in shares of Intra-Cellular Therapies during the 2nd quarter worth $1,385,000. Seven Eight Capital LP bought a new stake in shares of Intra-Cellular Therapies in the 2nd quarter valued at about $1,501,000. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Intra-Cellular Therapies by 20.0% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 6,312 shares of the biopharmaceutical company’s stock valued at $432,000 after purchasing an additional 1,052 shares in the last quarter. Amalgamated Bank increased its holdings in Intra-Cellular Therapies by 117.3% during the second quarter. Amalgamated Bank now owns 6,922 shares of the biopharmaceutical company’s stock valued at $474,000 after buying an additional 3,736 shares during the period. Finally, Virtu Financial LLC bought a new position in Intra-Cellular Therapies in the second quarter worth approximately $1,420,000. Institutional investors own 92.33% of the company’s stock.

Intra-Cellular Therapies Trading Up 3.0 %

Shares of ITCI stock opened at $76.97 on Friday. The company has a market cap of $8.13 billion, a P/E ratio of -66.35 and a beta of 1.00. The firm has a fifty day moving average price of $75.68 and a 200 day moving average price of $71.37. Intra-Cellular Therapies, Inc. has a 12 month low of $45.50 and a 12 month high of $84.89.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, topping 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 business had revenue of $161.40 million during the quarter, compared to analysts’ expectations of $157.74 million. During the same period in the prior year, the firm posted ($0.45) EPS. The business’s quarterly revenue was up 45.7% compared to the same quarter last year. On average, equities analysts forecast that Intra-Cellular Therapies, Inc. will post -0.59 EPS for the current year.

Analyst Upgrades and Downgrades

ITCI has been the topic of a number of recent research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price objective on shares of Intra-Cellular Therapies in a research report on Wednesday, August 7th. UBS Group lowered their target price on shares of Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $130.00 price target on shares of Intra-Cellular Therapies in a research note on Monday. The Goldman Sachs Group dropped their price target 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, Piper Sandler raised shares of Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $68.00 to $92.00 in a research report on Friday, September 6th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $96.58.

Insider Transactions at Intra-Cellular Therapies

In other news, Director Rory B. Riggs sold 4,462 shares of Intra-Cellular Therapies stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $75.57, for a total transaction of $337,193.34. Following the sale, the director now owns 116,600 shares in the company, valued at $8,811,462. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Intra-Cellular Therapies news, EVP Mark Neumann sold 18,714 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $75.08, for a total transaction of $1,405,047.12. Following the completion of the transaction, the executive vice president now owns 29,700 shares in the company, valued at approximately $2,229,876. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Rory B. Riggs sold 4,462 shares of the firm’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $75.57, for a total transaction of $337,193.34. Following the completion of the sale, the director now owns 116,600 shares of the company’s stock, valued at approximately $8,811,462. The disclosure for this sale can be found here. In the last quarter, insiders sold 179,778 shares of company stock worth $13,374,538. 3.40% of the stock is currently owned by insiders.

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.