Phocas Financial Corp. Sells 16,348 Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Phocas Financial Corp. lowered its holdings in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 85.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,885 shares of the biopharmaceutical company’s stock after selling 16,348 shares during the period. Phocas Financial Corp.’s holdings in Intra-Cellular Therapies were worth $241,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. Avior Wealth Management LLC grew its position in Intra-Cellular Therapies by 3.0% in the third quarter. Avior Wealth Management LLC now owns 4,473 shares of the biopharmaceutical company’s stock valued at $327,000 after purchasing an additional 131 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Intra-Cellular Therapies by 1.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,951 shares of the biopharmaceutical company’s stock valued at $748,000 after purchasing an additional 141 shares in the last quarter. CIBC Asset Management Inc grew its position in Intra-Cellular Therapies by 5.3% in the fourth quarter. CIBC Asset Management Inc now owns 2,956 shares of the biopharmaceutical company’s stock valued at $247,000 after purchasing an additional 150 shares in the last quarter. Pallas Capital Advisors LLC grew its position in shares of Intra-Cellular Therapies by 6.4% in the 4th quarter. Pallas Capital Advisors LLC now owns 3,182 shares of the biopharmaceutical company’s stock valued at $266,000 after acquiring an additional 192 shares during the period. Finally, Assetmark Inc. grew its position in shares of Intra-Cellular Therapies by 9.1% in the 3rd quarter. Assetmark Inc. now owns 2,477 shares of the biopharmaceutical company’s stock valued at $181,000 after acquiring an additional 207 shares during the period. Institutional investors own 92.33% of the company’s stock.

Intra-Cellular Therapies Stock Down 0.1 %

Intra-Cellular Therapies stock opened at $128.46 on Thursday. Intra-Cellular Therapies, Inc. has a 12-month low of $63.30 and a 12-month high of $129.00. The firm’s fifty day moving average is $111.97 and its 200 day moving average is $90.60. The company has a market capitalization of $13.66 billion, a PE ratio of -147.65 and a beta of 0.72.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its earnings results on Friday, February 21st. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.08). Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. The company had revenue of $199.22 million for the quarter, compared to analyst estimates of $205.08 million. Sell-side analysts expect that Intra-Cellular Therapies, Inc. will post -0.64 EPS for the current fiscal year.

Insider Activity at Intra-Cellular Therapies

In other Intra-Cellular Therapies news, CEO Sharon Mates sold 51,000 shares of the company’s 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 transaction, the chief executive officer now owns 1,070,329 shares in the company, valued at approximately $91,834,228.20. This represents a 4.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

ITCI has been the subject of a number of analyst reports. StockNews.com initiated coverage on shares of Intra-Cellular Therapies in a research report on Monday. They issued a “hold” rating for the company. Baird R W downgraded shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th. Cantor Fitzgerald raised shares of Intra-Cellular Therapies from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. JPMorgan Chase & Co. lifted their price objective 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. Finally, Piper Sandler reissued a “neutral” rating and issued a $132.00 price objective (up previously from $107.00) on shares of Intra-Cellular Therapies in a research report on Tuesday, January 14th. Ten research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Intra-Cellular Therapies presently has an average rating of “Hold” and an average price target of $106.08.

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.