Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lowered its stake in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 4.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 44,504 shares of the biopharmaceutical company’s stock after selling 1,927 shares during the period. Mutual of America Capital Management LLC’s holdings in Intra-Cellular Therapies were worth $3,048,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ITCI. Oak Ridge Investments LLC acquired a new stake in Intra-Cellular Therapies during the second quarter worth approximately $811,000. Perceptive Advisors LLC acquired a new stake in shares of Intra-Cellular Therapies during the fourth quarter worth $7,735,000. SG Americas Securities LLC grew its position in shares of Intra-Cellular Therapies by 962.7% in the second quarter. SG Americas Securities LLC now owns 48,778 shares of the biopharmaceutical company’s stock valued at $3,341,000 after purchasing an additional 44,188 shares during the period. Schroder Investment Management Group increased its stake in Intra-Cellular Therapies by 36.7% in the fourth quarter. Schroder Investment Management Group now owns 779,823 shares of the biopharmaceutical company’s stock valued at $55,851,000 after purchasing an additional 209,331 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its position in Intra-Cellular Therapies by 12.3% during the first quarter. Clearbridge Investments LLC now owns 1,744,551 shares of the biopharmaceutical company’s stock worth $120,723,000 after buying an additional 191,416 shares during the period. Hedge funds and other institutional investors own 92.33% of the company’s stock.

Insiders Place Their Bets

In other Intra-Cellular Therapies news, CEO Sharon Mates sold 53,013 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $75.65, for a total value of $4,010,433.45. Following the transaction, the chief executive officer now directly owns 1,070,329 shares of the company’s stock, valued at approximately $80,970,388.85. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Sharon Mates sold 53,013 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $75.65, for a total value of $4,010,433.45. Following the sale, the chief executive officer now directly owns 1,070,329 shares of the company’s stock, valued at $80,970,388.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark Neumann sold 18,714 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $75.08, for a total transaction of $1,405,047.12. Following the transaction, the executive vice president now directly owns 29,700 shares of the company’s stock, valued at $2,229,876. The disclosure for this sale can be found here. Insiders have sold 175,316 shares of company stock worth $13,037,345 in the last three months. 3.40% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on ITCI. Piper Sandler raised shares of Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $68.00 to $92.00 in a research note on Friday, September 6th. Needham & Company LLC reissued a “buy” rating and set a $100.00 price objective on shares of Intra-Cellular Therapies in a research note on Wednesday, August 7th. Mizuho increased their target price on Intra-Cellular Therapies from $96.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. Royal Bank of Canada lowered their price target on Intra-Cellular Therapies from $107.00 to $106.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Finally, UBS Group cut their price objective on Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.58.

Intra-Cellular Therapies Trading Down 2.3 %

Shares of ITCI stock opened at $75.81 on Tuesday. Intra-Cellular Therapies, Inc. has a twelve month low of $45.50 and a twelve month high of $84.89. The company has a market capitalization of $8.00 billion, a PE ratio of -65.35 and a beta of 1.00. The firm has a fifty day simple moving average of $75.61 and a 200-day simple moving average of $71.58.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.03. Intra-Cellular Therapies had a negative return on equity of 11.48% and a negative net margin of 14.93%. The company had revenue of $161.40 million during the quarter, compared to the consensus estimate of $157.74 million. During the same period last year, the firm earned ($0.45) earnings per share. The company’s revenue was up 45.7% on a year-over-year basis. Equities research analysts predict that Intra-Cellular Therapies, Inc. will post -0.59 EPS for the current year.

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.