Algert Global LLC Sells 20,990 Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Algert Global LLC decreased its holdings in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 31.6% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 45,350 shares of the biopharmaceutical company’s stock after selling 20,990 shares during the period. Algert Global LLC’s holdings in Intra-Cellular Therapies were worth $3,318,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Summit Securities Group LLC purchased a new stake in Intra-Cellular Therapies during the second quarter valued at about $56,000. Capital Performance Advisors LLP bought a new position in Intra-Cellular Therapies during the 3rd quarter worth approximately $74,000. CWM LLC lifted its position in Intra-Cellular Therapies by 83.9% in the second quarter. CWM LLC now owns 1,372 shares of the biopharmaceutical company’s stock valued at $94,000 after purchasing an additional 626 shares during the last quarter. Covestor Ltd boosted its stake in shares of Intra-Cellular Therapies by 40.4% during the third quarter. Covestor Ltd now owns 1,811 shares of the biopharmaceutical company’s stock valued at $133,000 after purchasing an additional 521 shares during the period. Finally, Assetmark Inc. grew its holdings in shares of Intra-Cellular Therapies by 9.1% in the third quarter. Assetmark Inc. now owns 2,477 shares of the biopharmaceutical company’s stock worth $181,000 after purchasing an additional 207 shares during the last quarter. Hedge funds and other institutional investors own 92.33% of the company’s stock.

Intra-Cellular Therapies Stock Performance

ITCI stock opened at $84.99 on Tuesday. The firm has a 50 day moving average price of $79.25 and a 200-day moving average price of $74.84. The firm has a market capitalization of $9.01 billion, a price-to-earnings ratio of -97.69 and a beta of 0.97. Intra-Cellular Therapies, Inc. has a 52-week low of $58.14 and a 52-week high of $93.45.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.07). The company 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 was up 39.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.25) earnings per share. As a group, sell-side analysts forecast that Intra-Cellular Therapies, Inc. will post -0.64 earnings per share for the current fiscal year.

Insider Buying and Selling at Intra-Cellular Therapies

In other news, President Michael Halstead sold 22,869 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $89.12, for a total transaction of $2,038,085.28. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sharon Mates sold 34,396 shares of Intra-Cellular Therapies stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $72.84, for a total value of $2,505,404.64. Following the completion of the sale, the chief executive officer now owns 1,070,329 shares of the company’s stock, valued at $77,962,764.36. The trade was a 3.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.60% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms recently commented on ITCI. UBS Group lowered their price target on shares of Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. The Goldman Sachs Group cut their target price on Intra-Cellular Therapies from $77.00 to $74.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $130.00 price target on shares of Intra-Cellular Therapies in a research report on Monday, September 16th. Piper Sandler upgraded Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $68.00 to $92.00 in a research report on Friday, September 6th. Finally, Morgan Stanley upped their target price on Intra-Cellular Therapies from $92.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Two research 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, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.23.

Intra-Cellular Therapies 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.