O Shaughnessy Asset Management LLC Purchases New Position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Posted by Defense World Staff on Jun 3rd, 2023

O Shaughnessy Asset Management LLC purchased a new stake in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI – Get Rating) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 3,970 shares of the biopharmaceutical company’s stock, valued at approximately $210,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Exchange Traded Concepts LLC increased its stake in shares of Intra-Cellular Therapies by 14.4% in the 4th quarter. Exchange Traded Concepts LLC now owns 2,687 shares of the biopharmaceutical company’s stock valued at $142,000 after purchasing an additional 339 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in Intra-Cellular Therapies by 9.1% in the third quarter. Nisa Investment Advisors LLC now owns 4,462 shares of the biopharmaceutical company’s stock valued at $205,000 after acquiring an additional 371 shares during the last quarter. ProShare Advisors LLC raised its position in Intra-Cellular Therapies by 2.2% in the third quarter. ProShare Advisors LLC now owns 18,025 shares of the biopharmaceutical company’s stock valued at $840,000 after purchasing an additional 387 shares during the period. Profund Advisors LLC raised its position in Intra-Cellular Therapies by 6.4% in the fourth quarter. Profund Advisors LLC now owns 8,203 shares of the biopharmaceutical company’s stock valued at $434,000 after purchasing an additional 492 shares during the period. Finally, Great West Life Assurance Co. Can raised its position in Intra-Cellular Therapies by 14.4% in the first quarter. Great West Life Assurance Co. Can now owns 3,984 shares of the biopharmaceutical company’s stock valued at $259,000 after purchasing an additional 503 shares during the period. Hedge funds and other institutional investors own 86.95% of the company’s stock.

Insider Buying and Selling

In other Intra-Cellular Therapies news, EVP Suresh K. Durgam sold 7,344 shares of Intra-Cellular Therapies stock in a transaction on Monday, March 13th. The shares were sold at an average price of $45.04, for a total value of $330,773.76. Following the transaction, the executive vice president now owns 23,104 shares in the company, valued at approximately $1,040,604.16. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Nostrand Robert L. Van sold 10,000 shares of Intra-Cellular Therapies stock in a transaction on Monday, April 17th. The shares were sold at an average price of $63.00, for a total transaction of $630,000.00. Following the transaction, the director now owns 9,345 shares in the company, valued at approximately $588,735. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Suresh K. Durgam sold 7,344 shares of Intra-Cellular Therapies stock in a transaction on Monday, March 13th. The shares were sold at an average price of $45.04, for a total transaction of $330,773.76. Following the transaction, the executive vice president now owns 23,104 shares in the company, valued at approximately $1,040,604.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 125,078 shares of company stock worth $5,831,627. 3.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ITCI shares. Needham & Company LLC reaffirmed a “buy” rating and set a $66.00 price objective on shares of Intra-Cellular Therapies in a research report on Tuesday, April 18th. Morgan Stanley started coverage on shares of Intra-Cellular Therapies in a research note on Thursday, April 20th. They issued an “overweight” rating and a $80.00 price objective for the company. Royal Bank of Canada decreased their target price on shares of Intra-Cellular Therapies from $75.00 to $71.00 and set an “outperform” rating for the company in a research note on Thursday, March 2nd. StockNews.com started coverage on shares of Intra-Cellular Therapies in a research report on Thursday, May 18th. They issued a “hold” rating for the company. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Intra-Cellular Therapies from $59.00 to $58.00 and set an “overweight” rating for the company in a research report on Thursday, March 9th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Intra-Cellular Therapies currently has an average rating of “Moderate Buy” and an average price target of $74.45.

Intra-Cellular Therapies Price Performance

Shares of ITCI opened at $61.32 on Friday. The firm has a 50 day simple moving average of $60.65 and a 200-day simple moving average of $53.35. Intra-Cellular Therapies, Inc. has a 1-year low of $42.01 and a 1-year high of $66.56.

Intra-Cellular Therapies (NASDAQ:ITCI – Get Rating) last issued its quarterly earnings data on Thursday, May 4th. The biopharmaceutical company reported ($0.46) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.17. Intra-Cellular Therapies had a negative net margin of 73.46% and a negative return on equity of 33.92%. The business had revenue of $95.31 million during the quarter, compared to analysts’ expectations of $92.14 million. Equities analysts forecast that Intra-Cellular Therapies, Inc. will post -2.32 EPS for the current year.

Intra-Cellular Therapies Company Profile

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Intra-Cellular Therapies, Inc operates as a biopharmaceutical company. It focuses on the discovery and clinical development of small molecule drugs that address underserved medical needs in neuropsychiatric and neurological disorders by targeting intracellular signaling mechanisms within the central nervous system, or CNS.