Ieq Capital LLC Increases Holdings in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Ieq Capital LLC boosted its position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 469.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,398 shares of the biopharmaceutical company’s stock after purchasing an additional 26,708 shares during the period. Ieq Capital LLC’s holdings in Intra-Cellular Therapies were worth $2,706,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. True Wealth Design LLC acquired a new stake in Intra-Cellular Therapies in the third quarter valued at $32,000. GAMMA Investing LLC boosted its position in shares of Intra-Cellular Therapies by 46.3% in the 4th quarter. GAMMA Investing LLC now owns 758 shares of the biopharmaceutical company’s stock worth $63,000 after buying an additional 240 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in Intra-Cellular Therapies in the 3rd quarter valued at about $74,000. Venturi Wealth Management LLC purchased a new position in Intra-Cellular Therapies during the 4th quarter valued at about $96,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in Intra-Cellular Therapies during the third quarter worth about $97,000. 92.33% of the stock is owned by institutional investors and hedge funds.

Intra-Cellular Therapies Price Performance

Shares of ITCI stock opened at $128.60 on Friday. The firm’s 50-day simple moving average is $110.27 and its 200-day simple moving average is $89.72. Intra-Cellular Therapies, Inc. has a 1-year low of $62.78 and a 1-year high of $128.77. The firm has a market cap of $13.67 billion, a P/E ratio of -147.81 and a beta of 0.72.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly earnings results on Friday, February 21st. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.08). The company had revenue of $199.22 million for the quarter, compared to analysts’ expectations of $205.08 million. Intra-Cellular Therapies had a negative return on equity of 9.93% and a negative net margin of 14.07%. Analysts expect that Intra-Cellular Therapies, Inc. will post -0.64 earnings per share for the current fiscal year.

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 dated Wednesday, December 4th. The stock was sold at an average price of $85.80, for a total transaction of $4,375,800.00. Following the completion of the sale, the chief executive officer now directly owns 1,070,329 shares in the company, valued at $91,834,228.20. This represents a 4.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ITCI. Baird R W lowered shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th. Piper Sandler reiterated a “neutral” rating and set a $132.00 target price (up previously from $107.00) on shares of Intra-Cellular Therapies in a report on Tuesday, January 14th. JPMorgan Chase & Co. boosted their price target on Intra-Cellular Therapies from $81.00 to $89.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. StockNews.com assumed coverage on Intra-Cellular Therapies in a research note on Sunday, February 16th. They set a “hold” rating on the stock. Finally, Cantor Fitzgerald raised shares of Intra-Cellular Therapies from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th. Nine equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Intra-Cellular Therapies has an average rating of “Moderate Buy” and a consensus 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.