Xponance Inc. Acquires 7,671 Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Xponance Inc. boosted its holdings in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 135.6% during the second quarter, HoldingsChannel.com reports. The fund owned 13,329 shares of the biopharmaceutical company’s stock after purchasing an additional 7,671 shares during the period. Xponance Inc.’s holdings in Intra-Cellular Therapies were worth $913,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Kapitalo Investimentos Ltda bought a new stake in shares of Intra-Cellular Therapies in the 4th quarter valued at approximately $26,000. Headlands Technologies LLC acquired a new stake in Intra-Cellular Therapies in the 1st quarter valued at $32,000. Fidelis Capital Partners LLC bought a new stake in Intra-Cellular Therapies in the first quarter valued at $53,000. Summit Securities Group LLC acquired a new position in Intra-Cellular Therapies during the second quarter worth $56,000. Finally, CWM LLC lifted its holdings in shares of Intra-Cellular Therapies by 83.9% during the second quarter. CWM LLC now owns 1,372 shares of the biopharmaceutical company’s stock valued at $94,000 after acquiring an additional 626 shares during the period. Institutional investors and hedge funds own 92.33% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Sharon Mates sold 34,396 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $72.84, for a total value of $2,505,404.64. Following the transaction, the chief executive officer now owns 1,070,329 shares of the company’s stock, valued at approximately $77,962,764.36. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Sharon Mates sold 34,396 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $72.84, for a total value of $2,505,404.64. Following the completion of the sale, the chief executive officer now directly owns 1,070,329 shares of the company’s stock, valued at approximately $77,962,764.36. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Mark Neumann sold 18,714 shares of Intra-Cellular Therapies stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $75.08, for a total transaction of $1,405,047.12. Following the transaction, the executive vice president now directly owns 29,700 shares in the company, valued at approximately $2,229,876. The disclosure for this sale can be found here. In the last 90 days, insiders sold 175,316 shares of company stock valued at $13,037,345. Company insiders own 3.40% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ITCI. The Goldman Sachs Group lowered their target price on shares of Intra-Cellular Therapies from $77.00 to $74.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Mizuho raised their price objective on shares of Intra-Cellular Therapies from $96.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, June 21st. Cantor Fitzgerald reissued 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. raised their price target on Intra-Cellular Therapies from $79.00 to $81.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Finally, Needham & Company LLC reissued a “buy” rating and issued a $100.00 price objective on shares of Intra-Cellular Therapies in a research note on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.58.

Intra-Cellular Therapies Stock Up 0.1 %

Shares of ITCI stock opened at $73.30 on Friday. The firm has a market cap of $7.74 billion, a price-to-earnings ratio of -63.19 and a beta of 1.00. Intra-Cellular Therapies, Inc. has a 12 month low of $45.50 and a 12 month high of $84.89. The stock has a 50-day moving average price of $75.44 and a 200 day moving average price of $71.72.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.03. Intra-Cellular Therapies had a negative net margin of 14.93% and a negative return on equity of 11.48%. The company had revenue of $161.40 million during the quarter, compared to analysts’ expectations of $157.74 million. During the same quarter in the previous year, the company earned ($0.45) EPS. Intra-Cellular Therapies’s revenue was up 45.7% on a year-over-year basis. Sell-side analysts predict that Intra-Cellular Therapies, Inc. will post -0.59 earnings per share for the current fiscal year.

Intra-Cellular Therapies 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.