Mutual of America Capital Management LLC Lowers Stock Holdings in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Mutual of America Capital Management LLC cut its holdings in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 0.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 44,091 shares of the biopharmaceutical company’s stock after selling 413 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Intra-Cellular Therapies were worth $3,226,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. EFG Asset Management North America Corp. grew its stake in Intra-Cellular Therapies by 0.5% in the 2nd quarter. EFG Asset Management North America Corp. now owns 34,452 shares of the biopharmaceutical company’s stock valued at $2,357,000 after acquiring an additional 163 shares during the period. Assetmark Inc. increased its stake in shares of Intra-Cellular Therapies by 9.1% during 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 in the last quarter. State of New Jersey Common Pension Fund D raised its position in shares of Intra-Cellular Therapies by 0.6% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 35,673 shares of the biopharmaceutical company’s stock worth $2,610,000 after purchasing an additional 223 shares during the last quarter. US Bancorp DE lifted its stake in Intra-Cellular Therapies by 3.3% in the 3rd quarter. US Bancorp DE now owns 7,951 shares of the biopharmaceutical company’s stock valued at $582,000 after buying an additional 251 shares in the last quarter. Finally, Quantum Private Wealth LLC raised its holdings in shares of Intra-Cellular Therapies by 1.0% during the third quarter. Quantum Private Wealth LLC now owns 38,661 shares of the biopharmaceutical company’s stock valued at $2,829,000 after acquiring an additional 400 shares during the last quarter. 92.33% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Intra-Cellular Therapies 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Sharon Mates sold 34,396 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now owns 1,070,329 shares of the company’s stock, valued at approximately $77,962,764.36. This represents a 3.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 97,778 shares of company stock valued at $7,524,436 over the last 90 days. 2.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Piper Sandler raised Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $68.00 to $92.00 in a research note on Friday, September 6th. JPMorgan Chase & Co. lifted their target price on shares of Intra-Cellular Therapies from $81.00 to $89.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. The Goldman Sachs Group reduced their target price on shares of Intra-Cellular Therapies from $77.00 to $74.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Morgan Stanley boosted their price target on shares of Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Finally, Royal Bank of Canada increased their price objective on shares of Intra-Cellular Therapies from $106.00 to $108.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Intra-Cellular Therapies has an average rating of “Moderate Buy” and an average target price of $97.23.

Intra-Cellular Therapies Stock Performance

ITCI opened at $85.69 on Friday. The business’s 50 day moving average price is $79.05 and its 200 day moving average price is $74.66. The stock has a market capitalization of $9.08 billion, a PE ratio of -98.49 and a beta of 0.97. Intra-Cellular Therapies, Inc. has a one year low of $58.14 and a one year high of $93.45.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its quarterly earnings results 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 business had revenue of $175.40 million for the quarter, compared to analysts’ expectations of $172.30 million. Intra-Cellular Therapies had a negative return on equity of 9.93% and a negative net margin of 14.07%. The business’s revenue for the quarter was up 39.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.25) earnings per share. As a group, equities research analysts forecast that Intra-Cellular Therapies, Inc. will post -0.64 earnings per share for the current fiscal year.

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.