Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Holdings Decreased by First Turn Management LLC

First Turn Management LLC decreased its holdings in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 26.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 254,800 shares of the biopharmaceutical company’s stock after selling 92,543 shares during the quarter. Intra-Cellular Therapies accounts for approximately 3.0% of First Turn Management LLC’s holdings, making the stock its 10th biggest position. First Turn Management LLC owned approximately 0.24% of Intra-Cellular Therapies worth $18,644,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. Perceptive Advisors LLC increased its stake in shares of Intra-Cellular Therapies by 62.6% in the second quarter. Perceptive Advisors LLC now owns 1,716,407 shares of the biopharmaceutical company’s stock worth $117,557,000 after purchasing an additional 661,052 shares during the period. Millennium Management LLC grew its stake in shares of Intra-Cellular Therapies by 214.5% in the 2nd quarter. Millennium Management LLC now owns 889,102 shares of the biopharmaceutical company’s stock valued at $60,895,000 after purchasing an additional 606,358 shares during the period. Avoro Capital Advisors LLC boosted its holdings in shares of Intra-Cellular Therapies by 21.2% in the 2nd quarter. Avoro Capital Advisors LLC now owns 3,000,000 shares of the biopharmaceutical company’s stock worth $205,470,000 after acquiring an additional 525,000 shares in the last quarter. Marshall Wace LLP acquired a new position in Intra-Cellular Therapies during the 2nd quarter worth $34,178,000. Finally, Hood River Capital Management LLC acquired a new position in Intra-Cellular Therapies during the 2nd quarter worth $33,390,000. Institutional investors and hedge funds own 92.33% of the company’s stock.

Insider Transactions at Intra-Cellular Therapies

In related news, President Michael Halstead sold 22,869 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $89.12, for a total value of $2,038,085.28. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Sharon Mates sold 28,680 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $74.46, for a total transaction of $2,135,512.80. Following the completion of the sale, the chief executive officer now owns 1,070,329 shares in the company, valued at $79,696,697.34. This represents a 2.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 179,471 shares of company stock valued at $13,670,383 in the last 90 days. 2.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Cantor Fitzgerald restated an “overweight” rating and issued a $130.00 price target on shares of Intra-Cellular Therapies in a research report on Monday, September 16th. JPMorgan Chase & Co. raised their price target on Intra-Cellular Therapies from $81.00 to $89.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. UBS Group reduced their price target on Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Morgan Stanley raised their price objective on Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Finally, Piper Sandler raised Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $68.00 to $92.00 in a research note on Friday, September 6th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $97.23.

Intra-Cellular Therapies Price Performance

Shares of Intra-Cellular Therapies stock opened at $82.47 on Tuesday. Intra-Cellular Therapies, Inc. has a twelve month low of $56.83 and a twelve month high of $93.45. The company’s fifty day moving average is $78.27 and its 200 day moving average is $74.32.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.07). The firm had revenue of $175.40 million for the quarter, compared to the consensus estimate of $172.30 million. Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. The business’s revenue was up 39.0% compared to the same quarter last year. During the same period last year, the company posted ($0.25) EPS. Analysts expect that Intra-Cellular Therapies, Inc. will post -0.64 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.