Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Short Interest Up 6.7% in January

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) was the recipient of a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 1,600,000 shares, an increase of 6.7% from the January 15th total of 1,500,000 shares. Based on an average daily volume of 2,270,000 shares, the short-interest ratio is presently 0.7 days.

Intra-Cellular Therapies Trading Down 0.2 %

Shares of Intra-Cellular Therapies stock traded down $0.24 during mid-day trading on Monday, hitting $127.82. 1,382,004 shares of the stock were exchanged, compared to its average volume of 5,987,666. Intra-Cellular Therapies has a twelve month low of $62.78 and a twelve month high of $128.19. The stock has a market capitalization of $13.59 billion, a price-to-earnings ratio of -146.92 and a beta of 0.72. The company has a 50-day simple moving average of $106.66 and a 200 day simple moving average of $88.38.

Insider Buying and Selling

In other Intra-Cellular Therapies news, CEO Sharon Mates sold 51,000 shares of the company’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 1,070,329 shares in the company, valued at approximately $91,834,228.20. This represents a 4.55 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Intra-Cellular Therapies

Several hedge funds have recently modified their holdings of the company. Accredited Wealth Management LLC acquired a new stake in shares of Intra-Cellular Therapies in the fourth quarter worth approximately $28,000. True Wealth Design LLC acquired a new position in Intra-Cellular Therapies during the third quarter valued at approximately $32,000. GAMMA Investing LLC raised its stake in shares of Intra-Cellular Therapies by 46.3% during 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 period. Capital Performance Advisors LLP purchased a new stake in shares of Intra-Cellular Therapies during the third quarter valued at approximately $74,000. Finally, Venturi Wealth Management LLC purchased a new stake in shares of Intra-Cellular Therapies during the fourth quarter valued at approximately $96,000. 92.33% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ITCI. Leerink Partnrs downgraded shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $132.00 price target (up previously from $108.00) on shares of Intra-Cellular Therapies in a report on Wednesday, January 22nd. 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 reiterated a “hold” rating and issued a $100.00 price target on shares of Intra-Cellular Therapies in a report on Monday, January 13th. Finally, StockNews.com began coverage on shares of Intra-Cellular Therapies in a report on Sunday. They issued a “hold” rating for the company. Nine investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $103.62.

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.