Geode Capital Management LLC Boosts Stock Holdings in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Geode Capital Management LLC grew its holdings in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 1.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,708,301 shares of the biopharmaceutical company’s stock after purchasing an additional 22,128 shares during the period. Geode Capital Management LLC owned approximately 1.61% of Intra-Cellular Therapies worth $125,029,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. True Wealth Design LLC bought a new stake in Intra-Cellular Therapies during the 3rd quarter valued at $32,000. Summit Securities Group LLC bought a new stake in shares of Intra-Cellular Therapies during the 2nd quarter valued at $56,000. Capital Performance Advisors LLP purchased a new stake in Intra-Cellular Therapies during the 3rd quarter worth about $74,000. Quarry LP boosted its stake in Intra-Cellular Therapies by 260.0% in the 3rd quarter. Quarry LP now owns 1,800 shares of the biopharmaceutical company’s stock worth $132,000 after purchasing an additional 1,300 shares during the period. Finally, Covestor Ltd grew its holdings in Intra-Cellular Therapies by 40.4% during the 3rd quarter. Covestor Ltd now owns 1,811 shares of the biopharmaceutical company’s stock valued at $133,000 after buying an additional 521 shares in the last quarter. 92.33% of the stock is currently owned by hedge funds and other institutional investors.

Intra-Cellular Therapies Price Performance

Shares of NASDAQ ITCI opened at $86.96 on Wednesday. The stock has a market capitalization of $9.22 billion, a P/E ratio of -99.95 and a beta of 0.95. Intra-Cellular Therapies, Inc. has a one year low of $62.78 and a one year high of $93.45. The firm’s 50 day simple moving average is $82.71 and its two-hundred day simple moving average is $76.98.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.07). The business 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%. Intra-Cellular Therapies’s revenue for the quarter was up 39.0% on a year-over-year basis. During the same period in the prior year, the business posted ($0.25) EPS. As a group, equities analysts expect that Intra-Cellular Therapies, Inc. will post -0.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ITCI has been the topic of a number of recent analyst reports. Morgan Stanley increased their price target on shares of Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Royal Bank of Canada raised their price target on shares of Intra-Cellular Therapies from $106.00 to $108.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Piper Sandler raised shares of Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $68.00 to $92.00 in a report on Friday, September 6th. Cantor Fitzgerald reissued an “overweight” rating and set a $130.00 price objective on shares of Intra-Cellular Therapies in a research note on Monday, September 16th. Finally, Needham & Company LLC restated a “buy” rating and issued a $100.00 target price on shares of Intra-Cellular Therapies in a research note on Wednesday, October 30th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Intra-Cellular Therapies currently has an average rating of “Moderate Buy” and a consensus target price of $97.23.

Insider Activity

In related news, President Michael Halstead sold 22,869 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $89.12, for a total transaction of $2,038,085.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sharon Mates sold 51,000 shares of the firm’s stock in a transaction on 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 approximately $91,834,228.20. This trade represents a 4.55 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.60% 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.