Pallas Capital Advisors LLC Sells 1,130 Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Pallas Capital Advisors LLC lessened its holdings in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 27.4% during the third quarter, Holdings Channel.com reports. The firm owned 2,990 shares of the biopharmaceutical company’s stock after selling 1,130 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Intra-Cellular Therapies were worth $226,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Headlands Technologies LLC bought a new stake in shares of Intra-Cellular Therapies in the 1st quarter worth approximately $32,000. Fidelis Capital Partners LLC purchased a new stake in shares of Intra-Cellular Therapies in the 1st quarter worth approximately $53,000. Summit Securities Group LLC purchased a new stake in shares of Intra-Cellular Therapies in the 2nd quarter worth approximately $56,000. CWM LLC grew its stake in shares of Intra-Cellular Therapies by 83.9% in the 2nd quarter. CWM LLC now owns 1,372 shares of the biopharmaceutical company’s stock worth $94,000 after buying an additional 626 shares during the last quarter. Finally, EntryPoint Capital LLC grew its stake in shares of Intra-Cellular Therapies by 138.7% in the 1st quarter. EntryPoint Capital LLC now owns 2,167 shares of the biopharmaceutical company’s stock worth $150,000 after buying an additional 1,259 shares during the last quarter. Hedge funds and other institutional investors own 92.33% of the company’s stock.

Intra-Cellular Therapies Price Performance

ITCI stock opened at $86.54 on Friday. Intra-Cellular Therapies, Inc. has a 1 year low of $50.87 and a 1 year high of $88.00. The stock’s fifty day moving average price is $74.94 and its 200-day moving average price is $73.13. The company has a market cap of $9.14 billion, a P/E ratio of -97.41 and a beta of 1.00.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.07). Intra-Cellular Therapies had a negative return on equity of 11.09% and a negative net margin of 14.07%. The company had revenue of $175.40 million during the quarter, compared to the consensus estimate of $172.30 million. During the same period in the prior year, the business posted ($0.25) earnings per share. Intra-Cellular Therapies’s revenue for the quarter was up 39.0% compared to the same quarter last year. As a group, analysts expect that Intra-Cellular Therapies, Inc. will post -0.6 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. The Goldman Sachs Group cut their price target on Intra-Cellular Therapies from $77.00 to $74.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Needham & Company LLC reiterated a “buy” rating and set a $100.00 target price on shares of Intra-Cellular Therapies in a research note on Wednesday. Cantor Fitzgerald reiterated an “overweight” rating and set a $130.00 target price on shares of Intra-Cellular Therapies in a research note on Monday, September 16th. Piper Sandler upgraded Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and increased their target price for the company from $68.00 to $92.00 in a research note on Friday, September 6th. Finally, JPMorgan Chase & Co. increased their target price on Intra-Cellular Therapies from $79.00 to $81.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Intra-Cellular Therapies currently has a consensus rating of “Moderate Buy” and an average target price of $96.62.

Insider Buying and Selling

In related news, CEO Sharon Mates sold 34,396 shares of the firm’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 transaction, the chief executive officer now directly owns 1,070,329 shares of the company’s stock, valued at approximately $77,962,764.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Intra-Cellular Therapies news, CEO Sharon Mates sold 34,396 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $72.84, for a total transaction of $2,505,404.64. Following the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark Neumann sold 18,714 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $75.08, for a total value of $1,405,047.12. Following the sale, the executive vice president now directly owns 29,700 shares in the company, valued at approximately $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 three months, insiders have sold 175,316 shares of company stock valued at $13,037,345. 2.60% of the stock is owned by company insiders.

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.