Short Interest in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Expands By 5.3%

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) was the target of a significant growth in short interest in the month of January. As of January 15th, there was short interest totalling 1,980,000 shares, a growth of 5.3% from the December 31st total of 1,880,000 shares. Based on an average daily volume of 615,600 shares, the short-interest ratio is currently 3.2 days.

Intra-Cellular Therapies Trading Up 0.1 %

Shares of Intra-Cellular Therapies stock opened at $127.08 on Monday. The business’s fifty day simple moving average is $97.45 and its 200 day simple moving average is $84.54. The firm has a market capitalization of $13.47 billion, a P/E ratio of -146.07 and a beta of 0.70. Intra-Cellular Therapies has a 12 month low of $62.78 and a 12 month high of $128.00.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Morgan Stanley increased their price target on Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Baird R W lowered 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 issued a $132.00 target price (up previously from $108.00) on shares of Intra-Cellular Therapies in a report on Wednesday, January 22nd. Cantor Fitzgerald upgraded Intra-Cellular Therapies from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. Finally, Piper Sandler restated a “neutral” rating and issued a $132.00 target price (up previously from $107.00) on shares of Intra-Cellular Therapies in a report on Tuesday, January 14th. Nine analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Intra-Cellular Therapies currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.62.

Insider Buying and Selling

In other Intra-Cellular Therapies news, President Michael Halstead sold 22,869 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $89.12, for a total value of $2,038,085.28. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sharon Mates sold 51,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $85.80, for a total value 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. The trade was a 4.55 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ITCI. True Wealth Design LLC bought a new stake in Intra-Cellular Therapies in the 3rd quarter valued at about $32,000. GAMMA Investing LLC lifted its stake in shares of Intra-Cellular Therapies by 46.3% during the 4th quarter. GAMMA Investing LLC now owns 758 shares of the biopharmaceutical company’s stock valued at $63,000 after buying an additional 240 shares in the last quarter. Capital Performance Advisors LLP bought a new position in Intra-Cellular Therapies in the 3rd quarter worth approximately $74,000. Venturi Wealth Management LLC purchased a new position in Intra-Cellular Therapies in the 4th quarter valued at approximately $96,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in Intra-Cellular Therapies during the 3rd quarter valued at $97,000. Hedge funds and other institutional investors own 92.33% of the company’s stock.

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.