Entropy Technologies LP Invests $521,000 in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Entropy Technologies LP bought a new position in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 7,116 shares of the biopharmaceutical company’s stock, valued at approximately $521,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Intra-Cellular Therapies by 1.4% in the first quarter. Vanguard Group Inc. now owns 9,225,981 shares of the biopharmaceutical company’s stock valued at $638,438,000 after acquiring an additional 131,679 shares during the last quarter. Avoro Capital Advisors LLC increased its position in shares of Intra-Cellular Therapies by 21.2% during the second quarter. Avoro Capital Advisors LLC now owns 3,000,000 shares of the biopharmaceutical company’s stock worth $205,470,000 after purchasing an additional 525,000 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in shares of Intra-Cellular Therapies by 12.3% in the 1st quarter. Clearbridge Investments LLC now owns 1,744,551 shares of the biopharmaceutical company’s stock valued at $120,723,000 after purchasing an additional 191,416 shares during the last quarter. Perceptive Advisors LLC boosted its position in shares of Intra-Cellular Therapies by 62.6% in the 2nd quarter. Perceptive Advisors LLC now owns 1,716,407 shares of the biopharmaceutical company’s stock valued at $117,557,000 after purchasing an additional 661,052 shares during the period. Finally, Millennium Management LLC boosted its position in shares of Intra-Cellular Therapies by 214.5% in the 2nd quarter. Millennium Management LLC now owns 889,102 shares of the biopharmaceutical company’s stock valued at $60,895,000 after purchasing an additional 606,358 shares during the period. Hedge funds and other institutional investors own 92.33% of the company’s stock.

Insider Buying and Selling at Intra-Cellular Therapies

In other news, President Michael Halstead sold 22,869 shares of the company’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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sharon Mates sold 53,013 shares of Intra-Cellular Therapies stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $75.65, for a total value of $4,010,433.45. Following the completion of the transaction, the chief executive officer now owns 1,070,329 shares in the company, valued at $80,970,388.85. The trade was a 4.72 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 179,471 shares of company stock valued at $13,670,383. 2.60% of the stock is owned by company insiders.

Intra-Cellular Therapies Stock Down 4.8 %

Shares of NASDAQ:ITCI opened at $83.42 on Friday. Intra-Cellular Therapies, Inc. has a 52 week low of $54.17 and a 52 week high of $93.45. The company has a 50-day moving average price of $78.07 and a 200 day moving average price of $74.21. The company has a market cap of $8.84 billion, a P/E ratio of -95.88 and a beta of 0.97.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) EPS 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 business had revenue of $175.40 million during the quarter, compared to analyst estimates of $172.30 million. During the same period in the prior year, the business earned ($0.25) earnings per share. The firm’s quarterly revenue was up 39.0% compared to the same quarter last year. Analysts expect that Intra-Cellular Therapies, Inc. will post -0.64 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ITCI shares. Morgan Stanley boosted their price objective on Intra-Cellular Therapies from $92.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. JPMorgan Chase & Co. lifted their target price on shares of Intra-Cellular Therapies from $81.00 to $89.00 and gave the company an “overweight” rating in a report on Monday, November 4th. The Goldman Sachs Group decreased their price target on shares of Intra-Cellular Therapies from $77.00 to $74.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. UBS Group dropped their price objective on shares of Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Finally, Piper Sandler raised shares of Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and upped their target price for the company from $68.00 to $92.00 in a report on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.23.

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.