MML Investors Services LLC Sells 133 Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

MML Investors Services LLC cut its position in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 3.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,997 shares of the biopharmaceutical company’s stock after selling 133 shares during the period. MML Investors Services LLC’s holdings in Intra-Cellular Therapies were worth $292,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. True Wealth Design LLC bought a new position in shares of Intra-Cellular Therapies during the 3rd quarter valued at approximately $32,000. Capital Performance Advisors LLP bought a new position in Intra-Cellular Therapies during the third quarter valued at $74,000. Quarry LP lifted its position in Intra-Cellular Therapies by 260.0% during the third quarter. Quarry LP now owns 1,800 shares of the biopharmaceutical company’s stock valued at $132,000 after purchasing an additional 1,300 shares during the last quarter. Covestor Ltd grew its stake in shares of Intra-Cellular Therapies by 40.4% in the 3rd quarter. Covestor Ltd now owns 1,811 shares of the biopharmaceutical company’s stock worth $133,000 after buying an additional 521 shares in the last quarter. Finally, Assetmark Inc. increased its holdings in shares of Intra-Cellular Therapies by 9.1% in the 3rd quarter. Assetmark Inc. now owns 2,477 shares of the biopharmaceutical company’s stock worth $181,000 after buying an additional 207 shares during the last quarter. Hedge funds and other institutional investors own 92.33% of the company’s stock.

Insider Activity at Intra-Cellular Therapies

In other news, CEO Sharon Mates sold 51,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $85.80, for a total value of $4,375,800.00. Following the completion of the sale, the chief executive officer now owns 1,070,329 shares in the company, valued at approximately $91,834,228.20. The trade was a 4.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Michael Halstead sold 22,869 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $89.12, for a total transaction of $2,038,085.28. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by corporate insiders.

Intra-Cellular Therapies Stock Performance

Shares of NASDAQ:ITCI opened at $85.24 on Thursday. The firm’s 50 day simple moving average is $84.05 and its 200-day simple moving average is $77.70. Intra-Cellular Therapies, Inc. has a one year low of $62.78 and a one year high of $93.45. The firm has a market cap of $9.04 billion, a PE ratio of -97.98 and a beta of 0.95.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its quarterly earnings data 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 business earned ($0.25) earnings per share. The company’s revenue for the quarter was up 39.0% compared to the same quarter last year. Equities research analysts predict that Intra-Cellular Therapies, Inc. will post -0.64 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently commented on ITCI shares. Piper Sandler upgraded Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $68.00 to $92.00 in a research report on Friday, September 6th. Needham & Company LLC reissued a “buy” rating and set a $100.00 target price on shares of Intra-Cellular Therapies in a research report on Wednesday, October 30th. JPMorgan Chase & Co. raised their price target on Intra-Cellular Therapies from $81.00 to $89.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Royal Bank of Canada boosted their price objective on shares of Intra-Cellular Therapies from $106.00 to $108.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $130.00 target price on shares of Intra-Cellular Therapies in a report on Monday, September 16th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $97.23.

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.