Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Short Interest Up 5.3% in January

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) was the recipient of a significant increase in short interest during the month of January. As of January 15th, there was short interest totalling 1,980,000 shares, an increase of 5.3% from the December 31st total of 1,880,000 shares. Based on an average trading volume of 615,600 shares, the short-interest ratio is presently 3.2 days.

Insider Activity

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 shares were sold at an average price of $89.12, for a total transaction of $2,038,085.28. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sharon Mates sold 51,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $85.80, for a total transaction of $4,375,800.00. Following the completion of the sale, the chief executive officer now directly owns 1,070,329 shares of the company’s stock, valued at approximately $91,834,228.20. This represents a 4.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Intra-Cellular Therapies

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. True Wealth Design LLC purchased a new stake in Intra-Cellular Therapies during the third quarter worth $32,000. GAMMA Investing LLC boosted its stake in shares of Intra-Cellular Therapies by 46.3% during the 4th quarter. GAMMA Investing LLC now owns 758 shares of the biopharmaceutical company’s stock worth $63,000 after acquiring an additional 240 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Intra-Cellular Therapies during the 3rd quarter valued at about $74,000. Venturi Wealth Management LLC acquired a new stake in shares of Intra-Cellular Therapies during the 4th quarter valued at about $96,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Intra-Cellular Therapies in the 3rd quarter valued at about $97,000. Institutional investors and hedge funds own 92.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Canaccord Genuity Group cut Intra-Cellular Therapies from a “buy” rating to a “hold” rating and lifted their price objective for the company from $119.00 to $132.00 in a research note on Friday. JPMorgan Chase & Co. upped their target price on shares of 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 restated a “hold” rating and set a $100.00 price target on shares of Intra-Cellular Therapies in a report on Monday, January 13th. Cantor Fitzgerald raised shares of Intra-Cellular Therapies from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th. Finally, StockNews.com began coverage on Intra-Cellular Therapies in a report on Friday. They issued a “hold” rating for the company. Nine research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Intra-Cellular Therapies has an average rating of “Moderate Buy” and a consensus target price of $103.62.

Intra-Cellular Therapies Stock Up 0.1 %

Shares of ITCI opened at $127.19 on Tuesday. The company has a market capitalization of $13.48 billion, a price-to-earnings ratio of -146.19 and a beta of 0.72. Intra-Cellular Therapies has a 52 week low of $62.78 and a 52 week high of $128.00. The stock’s 50-day moving average price is $97.45 and its 200-day moving average price is $84.54.

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.