Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Short Interest Up 6.7% in January

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) was the recipient of a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 1,600,000 shares, an increase of 6.7% from the January 15th total of 1,500,000 shares. Based on an average daily trading volume, of 2,270,000 shares, the short-interest ratio is presently 0.7 days.

Intra-Cellular Therapies Trading Down 0.2 %

Intra-Cellular Therapies stock traded down $0.24 during trading hours on Monday, reaching $127.82. 1,382,004 shares of the company were exchanged, compared to its average volume of 5,987,666. The firm has a market cap of $13.59 billion, a price-to-earnings ratio of -146.92 and a beta of 0.72. The stock has a 50-day moving average of $106.66 and a 200 day moving average of $88.38. Intra-Cellular Therapies has a 12 month low of $62.78 and a 12 month high of $128.19.

Insiders Place Their Bets

In other news, CEO Sharon Mates sold 51,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $85.80, for a total value of $4,375,800.00. Following the transaction, the chief executive officer now owns 1,070,329 shares in the company, valued at $91,834,228.20. This represents a 4.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Intra-Cellular Therapies

A number of large investors have recently added to or reduced their stakes in the stock. Inspire Investing LLC lifted its holdings in shares of Intra-Cellular Therapies by 10.4% during the third quarter. Inspire Investing LLC now owns 5,606 shares of the biopharmaceutical company’s stock worth $410,000 after buying an additional 528 shares during the last quarter. nVerses Capital LLC acquired a new stake in Intra-Cellular Therapies during the third quarter valued at approximately $285,000. Raymond James & Associates boosted its holdings in Intra-Cellular Therapies by 2.8% during the third quarter. Raymond James & Associates now owns 158,852 shares of the biopharmaceutical company’s stock valued at $11,623,000 after purchasing an additional 4,325 shares in the last quarter. Cetera Trust Company N.A boosted its holdings in Intra-Cellular Therapies by 24.8% during the third quarter. Cetera Trust Company N.A now owns 2,520 shares of the biopharmaceutical company’s stock valued at $184,000 after purchasing an additional 500 shares in the last quarter. Finally, Lecap Asset Management Ltd. acquired a new stake in Intra-Cellular Therapies during the third quarter valued at approximately $499,000. Institutional investors own 92.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ITCI. Leerink Partnrs downgraded Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. Piper Sandler reiterated a “neutral” rating and issued a $132.00 target price (up previously from $107.00) on shares of Intra-Cellular Therapies in a report on Tuesday, January 14th. Baird R W cut Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 13th. JPMorgan Chase & Co. boosted their price target 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. Finally, Canaccord Genuity Group cut Intra-Cellular Therapies from a “buy” rating to a “hold” rating and boosted their price target for the company from $119.00 to $132.00 in a research note on Friday, January 31st. 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 stock. According to data from MarketBeat.com, Intra-Cellular Therapies 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.