abrdn plc Sells 21,885 Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

abrdn plc trimmed its holdings in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 8.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 229,078 shares of the biopharmaceutical company’s stock after selling 21,885 shares during the period. abrdn plc’s holdings in Intra-Cellular Therapies were worth $19,133,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Wasatch Advisors LP boosted its holdings in Intra-Cellular Therapies by 3.5% in the third quarter. Wasatch Advisors LP now owns 3,848,588 shares of the biopharmaceutical company’s stock worth $281,601,000 after purchasing an additional 130,351 shares in the last quarter. Bellevue Group AG boosted its stake in shares of Intra-Cellular Therapies by 0.6% during the 3rd quarter. Bellevue Group AG now owns 2,485,627 shares of the biopharmaceutical company’s stock worth $181,873,000 after acquiring an additional 14,342 shares in the last quarter. State Street Corp boosted its stake in shares of Intra-Cellular Therapies by 3.1% during the 3rd quarter. State Street Corp now owns 1,858,915 shares of the biopharmaceutical company’s stock worth $136,017,000 after acquiring an additional 56,664 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Intra-Cellular Therapies by 9.7% during the 3rd quarter. Franklin Resources Inc. now owns 1,753,286 shares of the biopharmaceutical company’s stock valued at $129,463,000 after acquiring an additional 155,655 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Intra-Cellular Therapies by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,708,301 shares of the biopharmaceutical company’s stock valued at $125,029,000 after acquiring an additional 22,128 shares in the last quarter. Institutional investors and hedge funds own 92.33% of the company’s stock.

Intra-Cellular Therapies Price Performance

Shares of ITCI stock opened at $127.12 on Friday. Intra-Cellular Therapies, Inc. has a one year low of $62.78 and a one year high of $128.00. The stock has a fifty day moving average price of $99.91 and a 200 day moving average price of $85.57. The stock has a market cap of $13.48 billion, a P/E ratio of -146.11 and a beta of 0.72.

Insider Transactions at Intra-Cellular Therapies

In related news, President Michael Halstead sold 22,869 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $89.12, for a total value of $2,038,085.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sharon Mates sold 51,000 shares of Intra-Cellular Therapies stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $85.80, for a total value of $4,375,800.00. Following the sale, the chief executive officer now directly owns 1,070,329 shares in the company, valued at $91,834,228.20. The trade was a 4.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ITCI shares. Morgan Stanley upped their target price 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. Canaccord Genuity Group lowered shares of Intra-Cellular Therapies from a “buy” rating to a “hold” rating and raised their target price for the company from $119.00 to $132.00 in a research note on Friday, January 31st. Piper Sandler reissued a “neutral” rating and set a $132.00 target price (up previously from $107.00) on shares of Intra-Cellular Therapies in a research report on Tuesday, January 14th. Cantor Fitzgerald raised Intra-Cellular Therapies from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Finally, StockNews.com assumed coverage on Intra-Cellular Therapies in a research report on Friday, January 31st. They set a “hold” rating for the company. Nine investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $103.62.

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.