Inspire Investing LLC Sells 691 Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Inspire Investing LLC reduced its position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 12.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 4,915 shares of the biopharmaceutical company’s stock after selling 691 shares during the quarter. Inspire Investing LLC’s holdings in Intra-Cellular Therapies were worth $410,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of ITCI. True Wealth Design LLC purchased a new position in shares of Intra-Cellular Therapies during the 3rd quarter valued at $32,000. GAMMA Investing LLC grew its position in Intra-Cellular Therapies by 46.3% during the fourth quarter. GAMMA Investing LLC now owns 758 shares of the biopharmaceutical company’s stock worth $63,000 after buying an additional 240 shares in the last quarter. Capital Performance Advisors LLP bought a new position in Intra-Cellular Therapies in the 3rd quarter worth about $74,000. Wilmington Savings Fund Society FSB bought a new position in Intra-Cellular Therapies in the 3rd quarter worth about $97,000. Finally, Quarry LP boosted its position in shares of Intra-Cellular Therapies by 260.0% during the 3rd quarter. Quarry LP now owns 1,800 shares of the biopharmaceutical company’s stock valued at $132,000 after acquiring an additional 1,300 shares during the last quarter. Hedge funds and other institutional investors own 92.33% of the company’s stock.

Intra-Cellular Therapies Stock Performance

NASDAQ:ITCI opened at $127.35 on Friday. Intra-Cellular Therapies, Inc. has a fifty-two week low of $62.78 and a fifty-two week high of $128.00. The firm has a market cap of $13.50 billion, a PE ratio of -146.38 and a beta of 0.70. The business has a 50 day moving average price of $93.20 and a 200-day moving average price of $82.78.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its quarterly earnings results 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). Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. The firm had revenue of $175.40 million for the quarter, compared to analysts’ expectations of $172.30 million. During the same period in the previous year, the company earned ($0.25) EPS. The company’s quarterly revenue was up 39.0% on a year-over-year basis. Research analysts predict that Intra-Cellular Therapies, Inc. will post -0.64 EPS for the current year.

Insider Transactions at Intra-Cellular Therapies

In related news, CEO Sharon Mates sold 51,000 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief executive officer now owns 1,070,329 shares of the company’s stock, valued at $91,834,228.20. This trade represents a 4.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, President Michael Halstead sold 22,869 shares of Intra-Cellular Therapies stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $89.12, for a total transaction of $2,038,085.28. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

ITCI has been the topic of a number of recent analyst reports. Leerink Partnrs downgraded shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 13th. JPMorgan Chase & Co. raised their price objective on shares of Intra-Cellular Therapies from $81.00 to $89.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Royal Bank of Canada reissued a “sector perform” rating and issued a $132.00 target price (up previously from $108.00) on shares of Intra-Cellular Therapies in a research note on Wednesday. Needham & Company LLC restated a “hold” rating and set a $100.00 price target on shares of Intra-Cellular Therapies in a research report on Monday, January 13th. Finally, Piper Sandler reiterated a “neutral” rating and set a $132.00 price objective (up from $107.00) on shares of Intra-Cellular Therapies in a research report on Tuesday, January 14th. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $102.15.

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.