Park Avenue Securities LLC Sells 685 Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Park Avenue Securities LLC cut its position in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 11.7% in the third quarter, HoldingsChannel reports. The firm owned 5,190 shares of the biopharmaceutical company’s stock after selling 685 shares during the period. Park Avenue Securities LLC’s holdings in Intra-Cellular Therapies were worth $380,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Kapitalo Investimentos Ltda bought a new position in shares of Intra-Cellular Therapies in the 4th quarter worth $26,000. Headlands Technologies LLC bought a new position in shares of Intra-Cellular Therapies in the 1st quarter worth $32,000. Fidelis Capital Partners LLC bought a new position in shares of Intra-Cellular Therapies in the 1st quarter worth $53,000. Summit Securities Group LLC bought a new position in shares of Intra-Cellular Therapies in the 2nd quarter worth $56,000. Finally, CWM LLC raised its position in shares of Intra-Cellular Therapies by 83.9% in the 2nd quarter. CWM LLC now owns 1,372 shares of the biopharmaceutical company’s stock worth $94,000 after acquiring an additional 626 shares in the last quarter. 92.33% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ITCI has been the subject of several recent research reports. UBS Group reduced their price target on 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. The Goldman Sachs Group dropped 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. JPMorgan Chase & Co. boosted their target price on Intra-Cellular Therapies from $79.00 to $81.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Piper Sandler upgraded Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $68.00 to $92.00 in a research note on Friday, September 6th. Finally, Mizuho boosted their target price on Intra-Cellular Therapies from $96.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. 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, the stock presently has an average rating of “Moderate Buy” and an average price target of $96.62.

Insider Transactions at Intra-Cellular Therapies

In other news, EVP Mark Neumann sold 18,714 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $75.08, for a total value of $1,405,047.12. Following the sale, the executive vice president now owns 29,700 shares in the company, valued at $2,229,876. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Mark Neumann sold 18,714 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $75.08, for a total value of $1,405,047.12. Following the completion of the transaction, the executive vice president now owns 29,700 shares of the company’s stock, valued at approximately $2,229,876. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sharon Mates sold 34,396 shares of the company’s 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 transaction, the chief executive officer now directly owns 1,070,329 shares of the company’s stock, valued at $77,962,764.36. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 175,316 shares of company stock worth $13,037,345 over the last quarter. 3.40% of the stock is currently owned by insiders.

Intra-Cellular Therapies Stock Performance

Intra-Cellular Therapies stock opened at $75.76 on Friday. The business’s 50-day simple moving average is $74.35 and its two-hundred day simple moving average is $72.22. The company has a market cap of $8.00 billion, a PE ratio of -65.31 and a beta of 1.00. Intra-Cellular Therapies, Inc. has a fifty-two week low of $45.50 and a fifty-two week high of $84.89.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.03. Intra-Cellular Therapies had a negative return on equity of 11.48% and a negative net margin of 14.93%. The firm had revenue of $161.40 million for the quarter, compared to the consensus estimate of $157.74 million. During the same quarter in the prior year, the business earned ($0.45) earnings per share. The company’s revenue was up 45.7% compared to the same quarter last year. As a group, analysts predict that Intra-Cellular Therapies, Inc. will post -0.59 EPS for the current fiscal 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.