CIBC Asset Management Inc Has $247,000 Stake in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

CIBC Asset Management Inc grew its holdings in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 5.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,956 shares of the biopharmaceutical company’s stock after buying an additional 150 shares during the period. CIBC Asset Management Inc’s holdings in Intra-Cellular Therapies were worth $247,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ITCI. JPMorgan Chase & Co. lifted their price target on Intra-Cellular Therapies from $81.00 to $89.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Canaccord Genuity Group cut Intra-Cellular Therapies from a “buy” rating to a “hold” rating and lifted their price target for the stock from $119.00 to $132.00 in a report on Friday, January 31st. Baird R W cut Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. Royal Bank of Canada restated a “sector perform” rating and set a $132.00 price objective (up previously from $108.00) on shares of Intra-Cellular Therapies in a research note on Wednesday, January 22nd. Finally, Piper Sandler restated a “neutral” rating and set a $132.00 price objective (up previously from $107.00) on shares of Intra-Cellular Therapies in a research note on Tuesday, January 14th. Ten research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Intra-Cellular Therapies currently has a consensus rating of “Hold” and an average price target of $106.08.

Insider Activity at Intra-Cellular Therapies

In other Intra-Cellular Therapies news, CEO Sharon Mates sold 51,000 shares of the 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 sale, the chief executive officer now owns 1,070,329 shares in the company, valued at $91,834,228.20. This represents a 4.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.60% of the stock is owned by company insiders.

Intra-Cellular Therapies Trading Down 0.0 %

Intra-Cellular Therapies stock opened at $128.53 on Wednesday. Intra-Cellular Therapies, Inc. has a 12 month low of $63.30 and a 12 month high of $128.77. The business’s 50 day simple moving average is $111.14 and its 200 day simple moving average is $90.22. The company has a market cap of $13.67 billion, a price-to-earnings ratio of -147.73 and a beta of 0.72.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly earnings data on Friday, February 21st. The biopharmaceutical company reported ($0.16) EPS for the quarter, missing the consensus estimate 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%. The firm had revenue of $199.22 million during the quarter, compared to analysts’ expectations of $205.08 million. As a group, equities research analysts forecast that Intra-Cellular Therapies, Inc. will post -0.64 earnings per share for the current fiscal 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.