Principal Financial Group Inc. Reduces Stake in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Principal Financial Group Inc. lowered its holdings in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 7.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 550,963 shares of the biopharmaceutical company’s stock after selling 46,750 shares during the quarter. Principal Financial Group Inc.’s holdings in Intra-Cellular Therapies were worth $46,020,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. True Wealth Design LLC purchased a new position in shares of Intra-Cellular Therapies in the 3rd quarter valued at approximately $32,000. GAMMA Investing LLC lifted its stake in shares of Intra-Cellular Therapies by 46.3% in the 4th quarter. GAMMA Investing LLC now owns 758 shares of the biopharmaceutical company’s stock valued at $63,000 after purchasing an additional 240 shares during the period. Capital Performance Advisors LLP purchased a new position in shares of Intra-Cellular Therapies in the 3rd quarter valued at approximately $74,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Intra-Cellular Therapies in the 3rd quarter valued at approximately $97,000. Finally, Quarry LP lifted its stake in shares of Intra-Cellular Therapies by 260.0% in the 3rd quarter. Quarry LP now owns 1,800 shares of the biopharmaceutical company’s stock valued at $132,000 after purchasing an additional 1,300 shares during the period. Hedge funds and other institutional investors own 92.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Canaccord Genuity Group cut 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. StockNews.com initiated coverage on Intra-Cellular Therapies in a research report on Sunday, February 16th. They set a “hold” rating for the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $132.00 price objective (up previously from $108.00) on shares of Intra-Cellular Therapies in a research report on Wednesday, January 22nd. Cantor Fitzgerald raised Intra-Cellular Therapies from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Finally, Needham & Company LLC reaffirmed a “hold” rating and set a $100.00 price objective on shares of Intra-Cellular Therapies in a research report on Monday, January 13th. Nine analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Intra-Cellular Therapies has an average rating of “Moderate Buy” and an average price target of $103.62.

Intra-Cellular Therapies Price Performance

ITCI stock opened at $128.54 on Friday. Intra-Cellular Therapies, Inc. has a 1-year low of $62.78 and a 1-year high of $128.77. The business has a fifty day moving average price of $109.36 and a 200-day moving average price of $89.29. The stock has a market capitalization of $13.67 billion, a P/E ratio of -147.75 and a beta of 0.72.

Insider Transactions at Intra-Cellular Therapies

In related news, CEO Sharon Mates sold 51,000 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $85.80, for a total transaction of $4,375,800.00. Following the completion of the sale, the chief executive officer now owns 1,070,329 shares in the company, valued at approximately $91,834,228.20. This represents a 4.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.60% of the company’s stock.

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.