Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lessened its holdings in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 6.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 63,742 shares of the biopharmaceutical company’s stock after selling 4,397 shares during the quarter. Victory Capital Management Inc. owned 0.06% of Intra-Cellular Therapies worth $4,664,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Oak Ridge Investments LLC acquired a new stake in Intra-Cellular Therapies in the second quarter worth about $811,000. SG Americas Securities LLC lifted its holdings in shares of Intra-Cellular Therapies by 962.7% during the second quarter. SG Americas Securities LLC now owns 48,778 shares of the biopharmaceutical company’s stock worth $3,341,000 after purchasing an additional 44,188 shares during the period. TimesSquare Capital Management LLC lifted its holdings in shares of Intra-Cellular Therapies by 6.5% during the third quarter. TimesSquare Capital Management LLC now owns 438,083 shares of the biopharmaceutical company’s stock worth $32,055,000 after purchasing an additional 26,600 shares during the period. Driehaus Capital Management LLC acquired a new stake in shares of Intra-Cellular Therapies during the second quarter worth about $14,755,000. Finally, CANADA LIFE ASSURANCE Co lifted its holdings in shares of Intra-Cellular Therapies by 106.0% during the first quarter. CANADA LIFE ASSURANCE Co now owns 17,023 shares of the biopharmaceutical company’s stock worth $1,178,000 after purchasing an additional 8,760 shares during the period. Institutional investors and hedge funds own 92.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ITCI shares. JPMorgan Chase & Co. lifted their target price on Intra-Cellular Therapies from $81.00 to $89.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 target price on shares of Intra-Cellular Therapies in a report on Wednesday, October 30th. The Goldman Sachs Group decreased their target price on Intra-Cellular Therapies from $77.00 to $74.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Royal Bank of Canada lifted their target price on Intra-Cellular Therapies from $106.00 to $108.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Finally, Piper Sandler upgraded Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $68.00 to $92.00 in a research report on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Intra-Cellular Therapies has a consensus rating of “Moderate Buy” and an average price target of $97.23.

Intra-Cellular Therapies Stock Performance

Shares of ITCI opened at $85.69 on Friday. Intra-Cellular Therapies, Inc. has a one year low of $58.14 and a one year high of $93.45. The stock has a market capitalization of $9.08 billion, a price-to-earnings ratio of -98.22 and a beta of 0.97. The stock has a 50 day moving average price of $79.05 and a 200 day moving average price of $74.66.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.07). Intra-Cellular Therapies had a negative return on equity of 9.93% and a negative net margin of 14.07%. The firm had revenue of $175.40 million for the quarter, compared to analysts’ expectations of $172.30 million. During the same quarter in the previous year, the firm posted ($0.25) earnings per share. The firm’s revenue for the quarter was up 39.0% compared to the same quarter last year. On average, analysts predict that Intra-Cellular Therapies, Inc. will post -0.64 earnings per share for the current year.

Insider Buying and Selling

In other Intra-Cellular Therapies news, President Michael Halstead sold 22,869 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $89.12, for a total transaction of $2,038,085.28. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Sharon Mates sold 40,513 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $73.58, for a total value of $2,980,946.54. Following the transaction, the chief executive officer now directly owns 1,070,329 shares in the company, valued at $78,754,807.82. This trade represents a 3.65 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 97,778 shares of company stock worth $7,524,436. 2.60% of the stock is owned by corporate insiders.

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.