Insider Selling: Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) CEO Sells 51,000 Shares of Stock

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) CEO Sharon Mates sold 51,000 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 1,070,329 shares of the company’s stock, valued at $91,834,228.20. The trade was a 4.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Intra-Cellular Therapies Trading Up 0.5 %

ITCI stock traded up $0.46 during midday trading on Friday, hitting $84.55. 274,178 shares of the company’s stock were exchanged, compared to its average volume of 837,606. The firm has a 50 day moving average price of $81.11 and a 200-day moving average price of $75.96. Intra-Cellular Therapies, Inc. has a 12-month low of $58.92 and a 12-month high of $93.45. The stock has a market capitalization of $8.96 billion, a price-to-earnings ratio of -96.65 and a beta of 0.95.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly 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). The company had revenue of $175.40 million during the quarter, compared to the consensus estimate of $172.30 million. Intra-Cellular Therapies had a negative return on equity of 9.93% and a negative net margin of 14.07%. The firm’s quarterly revenue was up 39.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.25) EPS. On average, sell-side analysts forecast that Intra-Cellular Therapies, Inc. will post -0.64 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ITCI has been the subject of several research reports. Piper Sandler upgraded shares of Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $68.00 to $92.00 in a research note on Friday, September 6th. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price target on shares of Intra-Cellular Therapies in a report on Wednesday, October 30th. The Goldman Sachs Group cut their price objective 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. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $130.00 target price on shares of Intra-Cellular Therapies in a research report on Monday, September 16th. Finally, UBS Group lowered their target price on Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Intra-Cellular Therapies presently has an average rating of “Moderate Buy” and a consensus target price of $97.23.

Institutional Investors Weigh In On Intra-Cellular Therapies

Several hedge funds and other institutional investors have recently modified their holdings of the stock. True Wealth Design LLC acquired a new position in Intra-Cellular Therapies in the third quarter worth about $32,000. Summit Securities Group LLC acquired a new position in shares of Intra-Cellular Therapies in the 2nd quarter worth approximately $56,000. Capital Performance Advisors LLP bought a new stake in shares of Intra-Cellular Therapies in the 3rd quarter valued at approximately $74,000. CWM LLC raised its position in shares of Intra-Cellular Therapies by 83.9% during the 2nd quarter. CWM LLC now owns 1,372 shares of the biopharmaceutical company’s stock valued at $94,000 after acquiring an additional 626 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in Intra-Cellular Therapies during the third quarter worth $97,000. 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.