Alberta Investment Management Corp Sells 4,500 Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Alberta Investment Management Corp lowered its holdings in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 46.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,100 shares of the biopharmaceutical company’s stock after selling 4,500 shares during the quarter. Alberta Investment Management Corp’s holdings in Intra-Cellular Therapies were worth $426,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ITCI. TimesSquare Capital Management LLC raised its holdings in shares of Intra-Cellular Therapies by 91.8% in the 4th quarter. TimesSquare Capital Management LLC now owns 840,269 shares of the biopharmaceutical company’s stock valued at $70,179,000 after purchasing an additional 402,186 shares in the last quarter. Eagle Asset Management Inc. raised its holdings in shares of Intra-Cellular Therapies by 130.5% in the 3rd quarter. Eagle Asset Management Inc. now owns 624,759 shares of the biopharmaceutical company’s stock valued at $45,714,000 after purchasing an additional 353,723 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Intra-Cellular Therapies by 9.7% in the 3rd quarter. Franklin Resources Inc. now owns 1,753,286 shares of the biopharmaceutical company’s stock valued at $129,463,000 after purchasing an additional 155,655 shares in the last quarter. Wasatch Advisors LP raised its stake in shares of Intra-Cellular Therapies by 3.5% during the 3rd quarter. Wasatch Advisors LP now owns 3,848,588 shares of the biopharmaceutical company’s stock worth $281,601,000 after acquiring an additional 130,351 shares in the last quarter. Finally, M&G PLC bought a new position in shares of Intra-Cellular Therapies during the 3rd quarter worth approximately $9,076,000. Institutional investors own 92.33% of the company’s stock.

Intra-Cellular Therapies Price Performance

ITCI stock opened at $128.60 on Friday. The firm’s fifty day simple moving average is $110.27 and its 200-day simple moving average is $89.72. The company has a market capitalization of $13.67 billion, a P/E ratio of -147.81 and a beta of 0.72. Intra-Cellular Therapies, Inc. has a 12 month low of $62.78 and a 12 month high of $128.77.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its quarterly earnings data on Friday, February 21st. The biopharmaceutical company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.08). The business had revenue of $199.22 million during the quarter, compared to analysts’ expectations of $205.08 million. Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. As a group, sell-side analysts forecast that Intra-Cellular Therapies, Inc. will post -0.64 earnings per share for the current year.

Insider Activity

In related news, CEO Sharon Mates sold 51,000 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were 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 directly owns 1,070,329 shares in the company, valued at $91,834,228.20. The trade was a 4.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

ITCI has been the subject of several recent analyst reports. Piper Sandler reiterated a “neutral” rating and set a $132.00 price objective (up previously from $107.00) on shares of Intra-Cellular Therapies in a research note on Tuesday, January 14th. Cantor Fitzgerald upgraded shares of Intra-Cellular Therapies from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th. StockNews.com initiated coverage on shares of Intra-Cellular Therapies in a research note on Sunday, February 16th. They set a “hold” rating for the company. Needham & Company LLC reiterated a “hold” rating on shares of Intra-Cellular Therapies in a research note on Friday. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Intra-Cellular Therapies from $81.00 to $89.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Nine equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Intra-Cellular Therapies presently has a consensus rating of “Moderate Buy” and an average price target of $103.62.

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.