J.P. Marvel Investment Advisors LLC Sells 585 Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

J.P. Marvel Investment Advisors LLC lessened its stake in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 0.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 64,246 shares of the biopharmaceutical company’s stock after selling 585 shares during the period. J.P. Marvel Investment Advisors LLC’s holdings in Intra-Cellular Therapies were worth $5,366,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. increased its stake in shares of Intra-Cellular Therapies by 10.6% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 22,480 shares of the biopharmaceutical company’s stock valued at $1,878,000 after purchasing an additional 2,157 shares during the last quarter. Barclays PLC increased its stake in shares of Intra-Cellular Therapies by 282.0% in the 3rd quarter. Barclays PLC now owns 34,453 shares of the biopharmaceutical company’s stock valued at $2,521,000 after purchasing an additional 25,435 shares during the last quarter. Oak Ridge Investments LLC increased its stake in shares of Intra-Cellular Therapies by 74.1% in the 4th quarter. Oak Ridge Investments LLC now owns 19,831 shares of the biopharmaceutical company’s stock valued at $1,656,000 after purchasing an additional 8,440 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of Intra-Cellular Therapies by 31.9% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 454,538 shares of the biopharmaceutical company’s stock valued at $33,258,000 after purchasing an additional 109,892 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Intra-Cellular Therapies by 3.3% in the 3rd quarter. Principal Financial Group Inc. now owns 597,713 shares of the biopharmaceutical company’s stock valued at $43,735,000 after purchasing an additional 18,865 shares during the last quarter. Institutional investors own 92.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ITCI. Piper Sandler reiterated a “neutral” rating and issued a $132.00 price target (up previously from $107.00) on shares of Intra-Cellular Therapies in a research note on Tuesday, January 14th. Leerink Partnrs lowered Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 13th. Baird R W downgraded Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. Canaccord Genuity Group downgraded Intra-Cellular Therapies from a “buy” rating to a “hold” rating and raised their price objective for the company from $119.00 to $132.00 in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. raised their price objective on Intra-Cellular Therapies from $81.00 to $89.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Nine 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.62.

Intra-Cellular Therapies Trading Down 0.2 %

Shares of ITCI opened at $127.82 on Friday. The company has a market capitalization of $13.59 billion, a PE ratio of -146.92 and a beta of 0.72. Intra-Cellular Therapies, Inc. has a 12 month low of $62.78 and a 12 month high of $128.19. The stock’s 50-day moving average price is $105.80 and its two-hundred day moving average price is $87.97.

Insiders Place Their Bets

In other Intra-Cellular Therapies news, CEO Sharon Mates sold 51,000 shares of Intra-Cellular Therapies 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 transaction, the chief executive officer now directly owns 1,070,329 shares of the company’s stock, valued at approximately $91,834,228.20. The trade was a 4.55 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company 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.