Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Sees Significant Increase in Short Interest

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) was the target of a significant growth in short interest in the month of January. As of January 31st, there was short interest totalling 1,600,000 shares, a growth of 6.7% from the January 15th total of 1,500,000 shares. Based on an average daily trading volume, of 2,270,000 shares, the short-interest ratio is presently 0.7 days.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ITCI shares. StockNews.com started coverage on shares of Intra-Cellular Therapies in a research report on Sunday. They set a “hold” rating for the company. JPMorgan Chase & Co. boosted their target price on shares of Intra-Cellular Therapies from $81.00 to $89.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Piper Sandler restated a “neutral” rating and set a $132.00 target price (up from $107.00) on shares of Intra-Cellular Therapies in a research report on Tuesday, January 14th. Leerink Partnrs downgraded shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $132.00 target price (up from $108.00) on shares of Intra-Cellular Therapies in a research report on Wednesday, January 22nd. Nine research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $103.62.

Insider Transactions at Intra-Cellular Therapies

In other news, CEO Sharon Mates sold 51,000 shares of Intra-Cellular Therapies stock in a transaction on Wednesday, December 4th. The shares were 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. The trade was a 4.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.60% of the company’s stock.

Institutional Trading of Intra-Cellular Therapies

A number of institutional investors and hedge funds have recently modified their holdings of ITCI. Accredited Wealth Management LLC purchased a new stake in shares of Intra-Cellular Therapies during the fourth quarter worth about $28,000. True Wealth Design LLC purchased a new stake in shares of Intra-Cellular Therapies during the third quarter worth about $32,000. GAMMA Investing LLC increased its stake in shares of Intra-Cellular Therapies by 46.3% during the fourth quarter. GAMMA Investing LLC now owns 758 shares of the biopharmaceutical company’s stock worth $63,000 after purchasing an additional 240 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of Intra-Cellular Therapies during the third quarter worth about $74,000. Finally, Venturi Wealth Management LLC purchased a new stake in Intra-Cellular Therapies during the 4th quarter valued at about $96,000. Hedge funds and other institutional investors own 92.33% of the company’s stock.

Intra-Cellular Therapies Stock Performance

Shares of ITCI stock traded down $0.24 on Monday, reaching $127.82. 1,382,004 shares of the company were exchanged, compared to its average volume of 5,987,666. The company has a market cap of $13.59 billion, a price-to-earnings ratio of -146.92 and a beta of 0.72. The business has a 50-day moving average price of $105.80 and a 200 day moving average price of $88.04. Intra-Cellular Therapies has a 1 year low of $62.78 and a 1 year high of $128.19.

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.