Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Stock Holdings Cut by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 19.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 23,023 shares of the biopharmaceutical company’s stock after selling 5,638 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Intra-Cellular Therapies were worth $1,649,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ITCI. Neo Ivy Capital Management bought a new stake in Intra-Cellular Therapies in the third quarter worth about $45,000. CI Investments Inc. raised its holdings in shares of Intra-Cellular Therapies by 1,191.6% in the 3rd quarter. CI Investments Inc. now owns 1,692 shares of the biopharmaceutical company’s stock worth $88,000 after purchasing an additional 1,561 shares in the last quarter. Global Retirement Partners LLC lifted its stake in Intra-Cellular Therapies by 13.8% during the third quarter. Global Retirement Partners LLC now owns 1,753 shares of the biopharmaceutical company’s stock valued at $89,000 after purchasing an additional 213 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in Intra-Cellular Therapies by 95.9% during the third quarter. China Universal Asset Management Co. Ltd. now owns 2,465 shares of the biopharmaceutical company’s stock worth $128,000 after buying an additional 1,207 shares in the last quarter. Finally, Covestor Ltd grew its position in Intra-Cellular Therapies by 64.9% in the third quarter. Covestor Ltd now owns 2,518 shares of the biopharmaceutical company’s stock worth $131,000 after buying an additional 991 shares during the last quarter. Institutional investors and hedge funds own 92.33% of the company’s stock.

Intra-Cellular Therapies Price Performance

NASDAQ ITCI opened at $74.54 on Tuesday. The firm has a market capitalization of $7.22 billion, a price-to-earnings ratio of -51.05 and a beta of 1.02. The company has a 50 day simple moving average of $69.34 and a 200-day simple moving average of $64.36. Intra-Cellular Therapies, Inc. has a 52-week low of $45.50 and a 52-week high of $84.89.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.14. Intra-Cellular Therapies had a negative net margin of 30.08% and a negative return on equity of 23.02%. The company had revenue of $132.10 million during the quarter, compared to the consensus estimate of $135.97 million. During the same quarter in the prior year, the firm earned ($0.45) EPS. The company’s revenue was up 50.3% compared to the same quarter last year. On average, analysts predict that Intra-Cellular Therapies, Inc. will post -0.67 EPS for the current year.

Insider Activity at Intra-Cellular Therapies

In other Intra-Cellular Therapies news, CEO Sharon Mates sold 40,712 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $66.50, for a total value of $2,707,348.00. Following the transaction, the chief executive officer now directly owns 1,050,309 shares of the company’s stock, valued at approximately $69,845,548.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Intra-Cellular Therapies news, CEO Sharon Mates sold 40,712 shares of Intra-Cellular Therapies stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $66.50, for a total value of $2,707,348.00. Following the completion of the sale, the chief executive officer now directly owns 1,050,309 shares in the company, valued at $69,845,548.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Lawrence J. Hineline sold 10,121 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $65.96, for a total transaction of $667,581.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 168,487 shares of company stock valued at $11,364,950. Insiders own 3.40% of the company’s stock.

Analysts Set New Price Targets

ITCI has been the subject of a number of recent research reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $101.00 price objective on shares of Intra-Cellular Therapies in a research report on Friday, February 23rd. TD Cowen upped their target price on Intra-Cellular Therapies from $80.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Needham & Company LLC lifted their price target on Intra-Cellular Therapies from $82.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $86.00 price objective on shares of Intra-Cellular Therapies in a research note on Wednesday, April 3rd. Finally, Robert W. Baird lifted their target price on shares of Intra-Cellular Therapies from $83.00 to $103.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 17th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $88.00.

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.