nVerses Capital LLC Takes Position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

nVerses Capital LLC purchased a new stake in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 3,900 shares of the biopharmaceutical company’s stock, valued at approximately $285,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Kapitalo Investimentos Ltda bought a new position in Intra-Cellular Therapies during the fourth quarter valued at about $26,000. Headlands Technologies LLC bought a new position in shares of Intra-Cellular Therapies in the 1st quarter valued at approximately $32,000. Fidelis Capital Partners LLC acquired a new stake in Intra-Cellular Therapies in the 1st quarter worth approximately $53,000. Summit Securities Group LLC acquired a new stake in Intra-Cellular Therapies in the 2nd quarter worth approximately $56,000. Finally, CWM LLC boosted 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 period. Institutional investors and hedge funds own 92.33% of the company’s stock.

Intra-Cellular Therapies Price Performance

ITCI opened at $78.34 on Friday. The company has a market capitalization of $8.27 billion, a P/E ratio of -67.53 and a beta of 1.00. The firm’s fifty day moving average price is $74.43 and its two-hundred day moving average price is $72.45. Intra-Cellular Therapies, Inc. has a fifty-two week low of $45.50 and a fifty-two week high of $84.89.

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

Insider Transactions at Intra-Cellular Therapies

In related news, CEO Sharon Mates sold 34,396 shares of the business’s 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 sale, the chief executive officer now owns 1,070,329 shares of the company’s stock, valued at $77,962,764.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Sharon Mates sold 34,396 shares of Intra-Cellular Therapies stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $72.84, for a total transaction of $2,505,404.64. Following the completion of the transaction, the chief executive officer now directly owns 1,070,329 shares of the company’s stock, valued at $77,962,764.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Mark Neumann sold 18,714 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now directly owns 29,700 shares in the company, valued at $2,229,876. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 175,316 shares of company stock valued at $13,037,345. Corporate insiders own 3.40% of the company’s stock.

Wall Street Analyst Weigh In

ITCI has been the subject of a number of analyst reports. Needham & Company LLC restated a “buy” rating and issued a $100.00 price objective on shares of Intra-Cellular Therapies in a research note on Wednesday, August 7th. JPMorgan Chase & Co. boosted their target price on shares of Intra-Cellular Therapies from $79.00 to $81.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $130.00 price target on shares of Intra-Cellular Therapies in a research report on Monday, September 16th. Royal Bank of Canada boosted their price objective on Intra-Cellular Therapies from $106.00 to $108.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Finally, Piper Sandler raised Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and raised their target price for the company from $68.00 to $92.00 in a report on Friday, September 6th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $96.62.

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.