Versor Investments LP Acquires New Shares in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Versor Investments LP bought a new position in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 3,509 shares of the biopharmaceutical company’s stock, valued at approximately $257,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC raised its position in shares of Intra-Cellular Therapies by 50.8% in the 1st quarter. SG Americas Securities LLC now owns 4,590 shares of the biopharmaceutical company’s stock valued at $318,000 after acquiring an additional 1,547 shares during the period. Sei Investments Co. raised its holdings in Intra-Cellular Therapies by 9.8% in the first quarter. Sei Investments Co. now owns 128,311 shares of the biopharmaceutical company’s stock worth $8,880,000 after purchasing an additional 11,488 shares during the period. Headlands Technologies LLC bought a new position in shares of Intra-Cellular Therapies during the first quarter worth $32,000. Russell Investments Group Ltd. grew its holdings in shares of Intra-Cellular Therapies by 232.0% in the 1st quarter. Russell Investments Group Ltd. now owns 50,845 shares of the biopharmaceutical company’s stock valued at $3,519,000 after buying an additional 35,528 shares during the period. Finally, ProShare Advisors LLC increased its position in shares of Intra-Cellular Therapies by 9.1% in the 1st quarter. ProShare Advisors LLC now owns 23,621 shares of the biopharmaceutical company’s stock valued at $1,635,000 after buying an additional 1,962 shares in the last quarter. Institutional investors own 92.33% of the company’s stock.

Insider Buying and Selling at Intra-Cellular Therapies

In other Intra-Cellular Therapies news, CEO Sharon Mates sold 53,013 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $75.65, for a total transaction of $4,010,433.45. Following the completion of the sale, the chief executive officer now owns 1,070,329 shares of the company’s stock, valued at $80,970,388.85. This trade represents a 4.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Michael Halstead sold 22,869 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $89.12, for a total transaction of $2,038,085.28. The disclosure for this sale can be found here. Insiders sold a total of 179,471 shares of company stock worth $13,670,383 over the last quarter. 2.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ITCI shares. Piper Sandler raised Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $68.00 to $92.00 in a research note on Friday, September 6th. JPMorgan Chase & Co. raised their target price on shares of Intra-Cellular Therapies from $81.00 to $89.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $130.00 price target on shares of Intra-Cellular Therapies in a report on Monday, September 16th. UBS Group lowered their price objective on shares of Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Intra-Cellular Therapies in a research report on Wednesday, October 30th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $97.23.

Intra-Cellular Therapies Stock Performance

ITCI opened at $83.42 on Friday. The business’s 50-day simple moving average is $78.27 and its 200 day simple moving average is $74.29. The firm has a market capitalization of $8.84 billion, a PE ratio of -95.88 and a beta of 0.97. Intra-Cellular Therapies, Inc. has a 52-week low of $54.17 and a 52-week high of $93.45.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its quarterly earnings data on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.07). The company had revenue of $175.40 million during the quarter, compared to analyst estimates of $172.30 million. Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. The company’s quarterly revenue was up 39.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.25) EPS. On average, research analysts forecast that Intra-Cellular Therapies, Inc. will post -0.64 earnings per share for the current year.

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.