Insider Selling: Intra-Cellular Therapies Inc (ITCI) SVP Sells 899 Shares of Stock

Intra-Cellular Therapies Inc (NASDAQ:ITCI) SVP Robert E. Davis sold 899 shares of the company’s stock in a transaction on Thursday, December 6th. The stock was sold at an average price of $13.53, for a total transaction of $12,163.47. Following the sale, the senior vice president now directly owns 31,155 shares of the company’s stock, valued at $421,527.15. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Intra-Cellular Therapies stock traded up $1.56 during mid-day trading on Friday, reaching $15.09. The company had a trading volume of 711,146 shares, compared to its average volume of 355,198. Intra-Cellular Therapies Inc has a 52 week low of $13.29 and a 52 week high of $25.82. The company has a market cap of $740.45 million, a PE ratio of -7.12 and a beta of 1.09.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings results on Wednesday, November 7th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.85) by $0.09. As a group, analysts forecast that Intra-Cellular Therapies Inc will post -3.03 earnings per share for the current year.

Institutional investors have recently modified their holdings of the business. Northern Trust Corp boosted its holdings in Intra-Cellular Therapies by 9.4% in the 2nd quarter. Northern Trust Corp now owns 540,016 shares of the biopharmaceutical company’s stock valued at $9,542,000 after purchasing an additional 46,453 shares during the period. BlackRock Inc. boosted its holdings in Intra-Cellular Therapies by 1.1% in the 2nd quarter. BlackRock Inc. now owns 3,794,986 shares of the biopharmaceutical company’s stock valued at $67,058,000 after purchasing an additional 41,856 shares during the period. Wasatch Advisors Inc. boosted its holdings in Intra-Cellular Therapies by 1.0% in the 3rd quarter. Wasatch Advisors Inc. now owns 1,928,018 shares of the biopharmaceutical company’s stock valued at $41,838,000 after purchasing an additional 19,787 shares during the period. NumerixS Investment Technologies Inc bought a new stake in Intra-Cellular Therapies in the 2nd quarter valued at $167,000. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new stake in Intra-Cellular Therapies in the 2nd quarter valued at $1,756,000. 69.53% of the stock is owned by hedge funds and other institutional investors.

Several analysts recently issued reports on ITCI shares. Cantor Fitzgerald reaffirmed a “buy” rating and set a $32.00 price objective on shares of Intra-Cellular Therapies in a report on Wednesday, November 7th. BidaskClub downgraded shares of Intra-Cellular Therapies from a “buy” rating to a “hold” rating in a report on Tuesday, October 9th. Leerink Swann started coverage on shares of Intra-Cellular Therapies in a report on Tuesday, November 13th. They set an “outperform” rating and a $27.00 price objective for the company. ValuEngine downgraded shares of Intra-Cellular Therapies from a “buy” rating to a “hold” rating in a report on Thursday, November 15th. Finally, Zacks Investment Research raised shares of Intra-Cellular Therapies from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a report on Tuesday, October 16th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. Intra-Cellular Therapies has an average rating of “Buy” and an average price target of $28.25.

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About Intra-Cellular Therapies

Intra-Cellular Therapies, Inc, a biopharmaceutical company, engages in developing novel drugs for the treatment of neuropsychiatric and neurodegenerative diseases. The company is developing its lead drug candidate, lumateperone, known as ITI-007, for the treatment of schizophrenia, bipolar disorder, behavioral disturbances in patients with dementia, and other neuropsychiatric and neurological disorders.

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