Allspring Global Investments Holdings LLC Decreases Stock Holdings in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Allspring Global Investments Holdings LLC lowered its position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 97.3% during the third quarter, HoldingsChannel reports. The firm owned 1,855 shares of the biopharmaceutical company’s stock after selling 67,841 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Intra-Cellular Therapies were worth $136,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Oak Ridge Investments LLC acquired a new position in Intra-Cellular Therapies in the 2nd quarter valued at about $811,000. SG Americas Securities LLC boosted its stake in shares of Intra-Cellular Therapies by 962.7% during the second quarter. SG Americas Securities LLC now owns 48,778 shares of the biopharmaceutical company’s stock valued at $3,341,000 after acquiring an additional 44,188 shares during the last quarter. Clearbridge Investments LLC boosted its stake in shares of Intra-Cellular Therapies by 12.3% during the first quarter. Clearbridge Investments LLC now owns 1,744,551 shares of the biopharmaceutical company’s stock valued at $120,723,000 after acquiring an additional 191,416 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in Intra-Cellular Therapies in the 1st quarter worth about $18,379,000. Finally, Russell Investments Group Ltd. raised 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 worth $3,519,000 after purchasing an additional 35,528 shares during the period. Hedge funds and other institutional investors own 92.33% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Mark Neumann sold 18,714 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $75.08, for a total transaction of $1,405,047.12. Following the transaction, the executive vice president now owns 29,700 shares of the company’s stock, valued at $2,229,876. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, EVP Mark Neumann sold 18,714 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $75.08, for a total transaction of $1,405,047.12. Following the transaction, the executive vice president now owns 29,700 shares of the company’s stock, valued at $2,229,876. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sharon Mates sold 28,680 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $74.46, for a total transaction of $2,135,512.80. Following the transaction, the chief executive officer now directly owns 1,070,329 shares in the company, valued at $79,696,697.34. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 175,316 shares of company stock worth $13,037,345. Company insiders own 2.60% of the company’s stock.

Intra-Cellular Therapies Stock Performance

NASDAQ ITCI opened at $86.17 on Tuesday. The firm’s fifty day moving average price is $75.41 and its two-hundred day moving average price is $73.31. The stock has a market cap of $9.14 billion, a PE ratio of -99.04 and a beta of 0.97. Intra-Cellular Therapies, Inc. has a fifty-two week low of $52.88 and a fifty-two week high of $88.00.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly earnings data on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates 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 business’s revenue for the quarter was up 39.0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.25) earnings per share. As a group, sell-side analysts predict that Intra-Cellular Therapies, Inc. will post -0.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ITCI. 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 report on Friday, September 6th. Royal Bank of Canada boosted their target price on Intra-Cellular Therapies from $106.00 to $108.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Morgan Stanley boosted their price objective on Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. JPMorgan Chase & Co. increased their target price on Intra-Cellular Therapies from $81.00 to $89.00 and gave the stock an “overweight” rating in a report on Monday. Finally, UBS Group decreased their price target on Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Intra-Cellular Therapies has an average rating of “Moderate Buy” and a consensus target price of $97.23.

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.