Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Stake Decreased by Natixis Advisors LLC

Natixis Advisors LLC trimmed its holdings in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 22.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 24,583 shares of the biopharmaceutical company’s stock after selling 7,077 shares during the quarter. Natixis Advisors LLC’s holdings in Intra-Cellular Therapies were worth $1,799,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the business. Summit Securities Group LLC acquired a new position in Intra-Cellular Therapies during the 2nd quarter worth $56,000. Capital Performance Advisors LLP bought a new position in Intra-Cellular Therapies in the 3rd quarter valued at about $74,000. CWM LLC grew its position in Intra-Cellular Therapies by 83.9% in the 2nd quarter. CWM LLC now owns 1,372 shares of the biopharmaceutical company’s stock valued at $94,000 after buying an additional 626 shares in the last quarter. Covestor Ltd increased its stake in Intra-Cellular Therapies by 40.4% during the 3rd quarter. Covestor Ltd now owns 1,811 shares of the biopharmaceutical company’s stock valued at $133,000 after buying an additional 521 shares during the period. Finally, Assetmark Inc. raised its position in shares of Intra-Cellular Therapies by 9.1% during the 3rd quarter. Assetmark Inc. now owns 2,477 shares of the biopharmaceutical company’s stock worth $181,000 after buying an additional 207 shares in the last quarter. 92.33% of the stock is currently owned by institutional investors and hedge funds.

Intra-Cellular Therapies Stock Down 0.8 %

ITCI opened at $84.99 on Tuesday. The firm has a market capitalization of $9.01 billion, a P/E ratio of -98.49 and a beta of 0.97. The stock has a fifty day moving average of $79.25 and a 200-day moving average of $74.84. Intra-Cellular Therapies, Inc. has a 12-month low of $58.14 and a 12-month high of $93.45.

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

Insiders Place Their Bets

In other news, CEO Sharon Mates sold 34,396 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $72.84, for a total transaction of $2,505,404.64. Following the transaction, the chief executive officer now owns 1,070,329 shares in the company, valued at $77,962,764.36. This represents a 3.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Michael Halstead sold 22,869 shares of Intra-Cellular Therapies 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 own 2.60% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Morgan Stanley increased their price objective on shares of Intra-Cellular Therapies from $92.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, October 11th. The Goldman Sachs Group cut their price target on shares of Intra-Cellular Therapies from $77.00 to $74.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $130.00 price objective on shares of Intra-Cellular Therapies in a research note on Monday, September 16th. Piper Sandler raised shares of Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and increased their target price for the company from $68.00 to $92.00 in a research note on Friday, September 6th. Finally, Needham & Company LLC restated a “buy” rating and issued a $100.00 price target on shares of Intra-Cellular Therapies in a research report on Wednesday, October 30th. 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 MarketBeat.com, Intra-Cellular Therapies presently has an average rating of “Moderate Buy” and a consensus price target of $97.23.

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.