Mirae Asset Global Investments Co. Ltd. Sells 289 Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Mirae Asset Global Investments Co. Ltd. reduced its stake in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 7.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,533 shares of the biopharmaceutical company’s stock after selling 289 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Intra-Cellular Therapies were worth $300,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. True Wealth Design LLC acquired a new stake in Intra-Cellular Therapies in the third quarter valued at approximately $32,000. GAMMA Investing LLC boosted its holdings in Intra-Cellular Therapies by 46.3% in the fourth quarter. GAMMA Investing LLC now owns 758 shares of the biopharmaceutical company’s stock valued at $63,000 after purchasing an additional 240 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in Intra-Cellular Therapies in the third quarter valued at $74,000. Wilmington Savings Fund Society FSB acquired a new stake in Intra-Cellular Therapies during the 3rd quarter worth about $97,000. Finally, Quarry LP raised its stake in shares of Intra-Cellular Therapies by 260.0% during the 3rd quarter. Quarry LP now owns 1,800 shares of the biopharmaceutical company’s stock valued at $132,000 after buying an additional 1,300 shares during the last quarter. 92.33% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. StockNews.com assumed coverage on Intra-Cellular Therapies in a research report on Saturday, February 8th. They issued a “hold” rating on the stock. Needham & Company LLC reissued a “hold” rating and set a $100.00 price target on shares of Intra-Cellular Therapies in a report on Monday, January 13th. Piper Sandler restated a “neutral” rating and set a $132.00 price target (up previously from $107.00) on shares of Intra-Cellular Therapies in a research report on Tuesday, January 14th. Baird R W downgraded shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th. Finally, JPMorgan Chase & Co. raised their target price on Intra-Cellular Therapies from $81.00 to $89.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Nine investment 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’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $103.62.

Intra-Cellular Therapies Trading Up 0.1 %

NASDAQ ITCI opened at $128.06 on Friday. The stock has a fifty day simple moving average of $104.06 and a 200-day simple moving average of $87.27. The stock has a market cap of $13.62 billion, a PE ratio of -147.19 and a beta of 0.72. Intra-Cellular Therapies, Inc. has a twelve month low of $62.78 and a twelve month high of $128.15.

Insiders Place Their Bets

In related news, CEO Sharon Mates sold 51,000 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 1,070,329 shares of the company’s stock, valued at $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 is available through this hyperlink. Insiders own 2.60% of the company’s stock.

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.