Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Shares Bought by Emerald Mutual Fund Advisers Trust

Emerald Mutual Fund Advisers Trust raised its stake in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 6.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 334,673 shares of the biopharmaceutical company’s stock after acquiring an additional 20,622 shares during the quarter. Intra-Cellular Therapies makes up approximately 1.3% of Emerald Mutual Fund Advisers Trust’s investment portfolio, making the stock its 24th largest position. Emerald Mutual Fund Advisers Trust owned approximately 0.32% of Intra-Cellular Therapies worth $24,488,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. US Bancorp DE lifted its holdings in Intra-Cellular Therapies by 3.3% in the third quarter. US Bancorp DE now owns 7,951 shares of the biopharmaceutical company’s stock valued at $582,000 after acquiring an additional 251 shares during the period. Pinnacle Associates Ltd. lifted its holdings in Intra-Cellular Therapies by 3.0% in the third quarter. Pinnacle Associates Ltd. now owns 176,124 shares of the biopharmaceutical company’s stock valued at $12,614,000 after acquiring an additional 5,055 shares during the period. China Universal Asset Management Co. Ltd. lifted its holdings in Intra-Cellular Therapies by 63.9% in the third quarter. China Universal Asset Management Co. Ltd. now owns 20,323 shares of the biopharmaceutical company’s stock valued at $1,487,000 after acquiring an additional 7,920 shares during the period. abrdn plc lifted its holdings in Intra-Cellular Therapies by 7.5% in the third quarter. abrdn plc now owns 250,963 shares of the biopharmaceutical company’s stock valued at $18,363,000 after acquiring an additional 17,612 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of Intra-Cellular Therapies by 185.6% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 8,810 shares of the biopharmaceutical company’s stock worth $645,000 after buying an additional 5,725 shares during the period. 92.33% of the stock is owned by institutional investors and hedge funds.

Intra-Cellular Therapies Stock Performance

NASDAQ ITCI opened at $86.54 on Friday. Intra-Cellular Therapies, Inc. has a one year low of $50.87 and a one year high of $88.00. The company has a market cap of $9.17 billion, a P/E ratio of -99.47 and a beta of 0.97. The business has a fifty day moving average price of $75.18 and a 200 day moving average price of $73.23.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.07). Intra-Cellular Therapies had a negative return on equity of 9.93% and a negative net margin of 14.07%. The company had revenue of $175.40 million during the quarter, compared to analyst estimates of $172.30 million. During the same period last year, the business earned ($0.25) earnings per share. The firm’s revenue was up 39.0% compared to the same quarter last year. As a group, sell-side analysts predict that Intra-Cellular Therapies, Inc. will post -0.63 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on ITCI shares. Royal Bank of Canada increased their target price on Intra-Cellular Therapies from $106.00 to $108.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. The Goldman Sachs Group decreased their target price on Intra-Cellular Therapies from $77.00 to $74.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Piper Sandler upgraded Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and increased their target price for the company from $68.00 to $92.00 in a research report on Friday, September 6th. Needham & Company LLC reiterated a “buy” rating and set a $100.00 target price on shares of Intra-Cellular Therapies in a research report on Wednesday. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $130.00 target price on shares of Intra-Cellular Therapies in a research report on Monday, September 16th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Intra-Cellular Therapies presently has a consensus rating of “Moderate Buy” and an average price target of $96.62.

Insiders Place Their Bets

In other Intra-Cellular Therapies news, EVP Mark Neumann sold 18,714 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $75.08, for a total value of $1,405,047.12. Following the completion of the sale, the executive vice president now directly owns 29,700 shares of the company’s stock, valued at $2,229,876. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Sharon Mates sold 28,680 shares of the firm’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 directly owns 1,070,329 shares of the company’s stock, valued at approximately $79,696,697.34. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark Neumann sold 18,714 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $75.08, for a total value of $1,405,047.12. Following the sale, the executive vice president now directly owns 29,700 shares of the company’s stock, valued at $2,229,876. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 175,316 shares of company stock valued at $13,037,345 in the last three months. 2.60% of the stock is currently owned by insiders.

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.