Insider Selling: Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) CEO Sells 34,396 Shares of Stock

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) CEO Sharon Mates sold 34,396 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $72.84, for a total value of $2,505,404.64. Following the completion of the sale, the chief executive officer now directly owns 1,070,329 shares in the company, valued at approximately $77,962,764.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Sharon Mates also recently made the following trade(s):

• On Tuesday, August 27th, Sharon Mates sold 40,513 shares of Intra-Cellular Therapies stock. The stock was sold at an average price of $73.58, for a total value of $2,980,946.54.
• On Friday, August 23rd, Sharon Mates sold 28,680 shares of Intra-Cellular Therapies stock. The stock was sold at an average price of $74.46, for a total value of $2,135,512.80.
• On Wednesday, August 21st, Sharon Mates sold 53,013 shares of Intra-Cellular Therapies stock. The shares were sold at an average price of $75.65, for a total value of $4,010,433.45.

Intra-Cellular Therapies Stock Performance

Shares of NASDAQ ITCI opened at $73.28 on Friday. The firm has a market cap of $7.74 billion, a price-to-earnings ratio of -63.17 and a beta of 1.01. The business’s 50-day simple moving average is $74.95 and its 200-day simple moving average is $71.19. Intra-Cellular Therapies, Inc. has a 52 week low of $45.50 and a 52 week high of $84.89.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.03. The business had revenue of $161.40 million for the quarter, compared to analyst estimates of $157.74 million. Intra-Cellular Therapies had a negative return on equity of 18.49% and a negative net margin of 21.57%. The firm’s revenue for the quarter was up 45.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.45) EPS. As a group, equities research analysts forecast that Intra-Cellular Therapies, Inc. will post -0.54 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ITCI. UBS Group reduced their target price on Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 target price on shares of Intra-Cellular Therapies in a report on Wednesday, August 7th. The Goldman Sachs Group reduced their price objective on Intra-Cellular Therapies from $77.00 to $74.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Canaccord Genuity Group increased their price objective on Intra-Cellular Therapies from $107.00 to $113.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. Finally, JPMorgan Chase & Co. increased their price objective on Intra-Cellular Therapies from $79.00 to $81.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.00.

Institutional Trading of Intra-Cellular Therapies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ITCI. Signaturefd LLC grew its holdings in Intra-Cellular Therapies by 85.7% in the 4th quarter. Signaturefd LLC now owns 518 shares of the biopharmaceutical company’s stock valued at $37,000 after buying an additional 239 shares during the last quarter. California Public Employees Retirement System grew its holdings in Intra-Cellular Therapies by 14.2% in the 4th quarter. California Public Employees Retirement System now owns 160,376 shares of the biopharmaceutical company’s stock valued at $11,486,000 after buying an additional 19,936 shares during the last quarter. New York State Common Retirement Fund grew its holdings in Intra-Cellular Therapies by 9.6% in the 4th quarter. New York State Common Retirement Fund now owns 57,572 shares of the biopharmaceutical company’s stock valued at $4,123,000 after buying an additional 5,023 shares during the last quarter. Truist Financial Corp grew its holdings in Intra-Cellular Therapies by 3.4% in the 4th quarter. Truist Financial Corp now owns 64,024 shares of the biopharmaceutical company’s stock valued at $4,585,000 after buying an additional 2,134 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in Intra-Cellular Therapies by 97.8% in the 4th quarter. Russell Investments Group Ltd. now owns 15,317 shares of the biopharmaceutical company’s stock valued at $1,097,000 after buying an additional 7,572 shares during the last quarter. Institutional investors and hedge funds own 92.33% of the company’s stock.

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.