Allspring Global Investments Holdings LLC Raises Stake in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Allspring Global Investments Holdings LLC increased its stake in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 1,443.5% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 28,631 shares of the biopharmaceutical company’s stock after buying an additional 26,776 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Intra-Cellular Therapies were worth $2,412,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. True Wealth Design LLC purchased a new position in shares of Intra-Cellular Therapies in the 3rd quarter worth about $32,000. GAMMA Investing LLC boosted its holdings in shares of Intra-Cellular Therapies by 46.3% in the 4th quarter. GAMMA Investing LLC now owns 758 shares of the biopharmaceutical company’s stock worth $63,000 after buying an additional 240 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Intra-Cellular Therapies in the 3rd quarter worth about $74,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Intra-Cellular Therapies in the 3rd quarter worth about $97,000. Finally, Quarry LP boosted its holdings in shares of Intra-Cellular Therapies by 260.0% in the 3rd quarter. Quarry LP now owns 1,800 shares of the biopharmaceutical company’s stock worth $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.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Canaccord Genuity Group downgraded shares of Intra-Cellular Therapies from a “buy” rating to a “hold” rating and upped their price objective for the company from $119.00 to $132.00 in a report on Friday, January 31st. Baird R W downgraded shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. Needham & Company LLC reaffirmed a “hold” rating on shares of Intra-Cellular Therapies in a report on Friday. StockNews.com assumed coverage on shares of Intra-Cellular Therapies in a report on Sunday, February 16th. They set a “hold” rating on the stock. Finally, Cantor Fitzgerald raised shares of Intra-Cellular Therapies from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. Nine analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $103.62.

Insider Activity at Intra-Cellular Therapies

In other Intra-Cellular Therapies news, CEO Sharon Mates sold 51,000 shares of Intra-Cellular Therapies stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $85.80, for a total transaction of $4,375,800.00. Following the transaction, the chief executive officer now directly owns 1,070,329 shares of the company’s stock, valued at approximately $91,834,228.20. This trade represents a 4.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.60% of the stock is currently owned by insiders.

Intra-Cellular Therapies Price Performance

Shares of ITCI opened at $128.60 on Friday. The firm’s 50 day simple moving average is $110.27 and its 200 day simple moving average is $89.64. The company has a market capitalization of $13.67 billion, a P/E ratio of -147.81 and a beta of 0.72. Intra-Cellular Therapies, Inc. has a 1-year low of $62.78 and a 1-year high of $128.77.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.08). Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. On average, equities analysts anticipate that Intra-Cellular Therapies, Inc. will post -0.64 earnings per share for the current year.

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.