Assetmark Inc. Raises Position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Assetmark Inc. increased its holdings in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 9.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,477 shares of the biopharmaceutical company’s stock after purchasing an additional 207 shares during the period. Assetmark Inc.’s holdings in Intra-Cellular Therapies were worth $181,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Headlands Technologies LLC purchased a new stake in Intra-Cellular Therapies in the 1st quarter valued at about $32,000. Summit Securities Group LLC purchased a new stake in Intra-Cellular Therapies in the second quarter valued at approximately $56,000. Capital Performance Advisors LLP acquired a new position in Intra-Cellular Therapies during the third quarter worth approximately $74,000. CWM LLC increased its position in Intra-Cellular Therapies by 83.9% during the second quarter. CWM LLC now owns 1,372 shares of the biopharmaceutical company’s stock worth $94,000 after purchasing an additional 626 shares during the last quarter. Finally, EntryPoint Capital LLC raised its stake in Intra-Cellular Therapies by 138.7% during the first quarter. EntryPoint Capital LLC now owns 2,167 shares of the biopharmaceutical company’s stock worth $150,000 after purchasing an additional 1,259 shares during the period. 92.33% of the stock is currently owned by institutional investors and hedge funds.

Intra-Cellular Therapies Trading Down 4.8 %

Shares of NASDAQ:ITCI opened at $83.42 on Friday. The firm has a market cap of $8.84 billion, a PE ratio of -95.88 and a beta of 0.97. The company has a fifty day simple moving average of $78.27 and a 200 day simple moving average of $74.29. Intra-Cellular Therapies, Inc. has a 12-month low of $54.17 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 for the quarter, missing the consensus estimate of ($0.18) by ($0.07). The company had revenue of $175.40 million for the quarter, compared to analyst estimates of $172.30 million. Intra-Cellular Therapies had a negative return on equity of 9.93% and a negative net margin of 14.07%. Intra-Cellular Therapies’s revenue was up 39.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.25) earnings per share. As a group, equities research analysts forecast that Intra-Cellular Therapies, Inc. will post -0.64 EPS for the current fiscal year.

Insider Activity at Intra-Cellular Therapies

In related news, President Michael Halstead sold 22,869 shares of the firm’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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Sharon Mates sold 28,680 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $74.46, for a total transaction of $2,135,512.80. Following the sale, the chief executive officer now owns 1,070,329 shares of the company’s stock, valued at approximately $79,696,697.34. The trade was a 2.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 179,471 shares of company stock valued at $13,670,383 over the last three months. 2.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $130.00 target price on shares of Intra-Cellular Therapies in a report on Monday, September 16th. JPMorgan Chase & Co. lifted their price objective on Intra-Cellular Therapies from $81.00 to $89.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Piper Sandler upgraded Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $68.00 to $92.00 in a report on Friday, September 6th. Royal Bank of Canada raised their price target 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. Finally, Morgan Stanley lifted their price target on shares of Intra-Cellular Therapies from $92.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $97.23.

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.