HighVista Strategies LLC Reduces Stock Position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

HighVista Strategies LLC trimmed its holdings in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 69.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,496 shares of the biopharmaceutical company’s stock after selling 16,841 shares during the quarter. HighVista Strategies LLC’s holdings in Intra-Cellular Therapies were worth $548,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Erste Asset Management GmbH purchased a new stake in Intra-Cellular Therapies during the third quarter valued at approximately $1,715,000. True Wealth Design LLC bought a new position in shares of Intra-Cellular Therapies during the 3rd quarter valued at approximately $32,000. Bellevue Group AG raised its holdings in 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 valued at $181,873,000 after buying an additional 14,342 shares during the period. Wasatch Advisors LP boosted its stake in Intra-Cellular Therapies by 3.5% during the third quarter. Wasatch Advisors LP now owns 3,848,588 shares of the biopharmaceutical company’s stock worth $281,601,000 after buying an additional 130,351 shares during the period. Finally, Edgestream Partners L.P. bought a new position in Intra-Cellular Therapies during the third quarter valued at $3,997,000. Institutional investors own 92.33% of the company’s stock.

Intra-Cellular Therapies Price Performance

Shares of ITCI stock opened at $85.31 on Wednesday. The company has a market capitalization of $9.04 billion, a P/E ratio of -98.06 and a beta of 0.95. The company’s 50-day simple moving average is $80.67 and its two-hundred day simple moving average is $75.83. Intra-Cellular Therapies, Inc. has a one year low of $58.92 and a one year high of $93.45.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings data on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.07). The business had revenue of $175.40 million during the quarter, compared to the consensus estimate 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 quarterly revenue was up 39.0% on a year-over-year basis. During the same period last year, the firm earned ($0.25) EPS. On average, research analysts expect that Intra-Cellular Therapies, Inc. will post -0.64 EPS for the current fiscal year.

Insider Transactions at Intra-Cellular Therapies

In other news, President Michael Halstead sold 22,869 shares of Intra-Cellular Therapies stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $89.12, for a total value of $2,038,085.28. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ITCI shares. UBS Group lowered their target price on shares of Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. The Goldman Sachs Group decreased their price objective on shares of Intra-Cellular Therapies from $77.00 to $74.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Royal Bank of Canada upped 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. JPMorgan Chase & Co. raised their price target on Intra-Cellular Therapies from $81.00 to $89.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Finally, Piper Sandler upgraded Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $68.00 to $92.00 in a research note on Friday, September 6th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average 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.