Intra-Cellular Therapies Inc (NASDAQ:ITCI) Short Interest Update

Intra-Cellular Therapies Inc (NASDAQ:ITCI) was the recipient of a significant growth in short interest in the month of September. As of September 15th, there was short interest totalling 6,740,000 shares, a growth of 26.2% from the August 31st total of 5,340,000 shares. Based on an average trading volume of 1,800,000 shares, the days-to-cover ratio is presently 3.7 days.

In other news, Director Christopher D. Alafi acquired 21,000 shares of the firm’s stock in a transaction on Friday, September 11th. The shares were purchased at an average price of $28.08 per share, for a total transaction of $589,680.00. Also, CFO Lawrence J. Hineline sold 41,983 shares of the business’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $31.14, for a total transaction of $1,307,350.62. Following the transaction, the chief financial officer now owns 50,017 shares in the company, valued at approximately $1,557,529.38. The disclosure for this sale can be found here. 18.20% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Nisa Investment Advisors LLC lifted its stake in shares of Intra-Cellular Therapies by 4.8% in the second quarter. Nisa Investment Advisors LLC now owns 10,322 shares of the biopharmaceutical company’s stock worth $265,000 after buying an additional 472 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Intra-Cellular Therapies by 1.0% in the second quarter. AQR Capital Management LLC now owns 61,930 shares of the biopharmaceutical company’s stock worth $1,590,000 after buying an additional 616 shares in the last quarter. Ameritas Investment Partners Inc. lifted its stake in shares of Intra-Cellular Therapies by 22.7% in the first quarter. Ameritas Investment Partners Inc. now owns 4,589 shares of the biopharmaceutical company’s stock worth $71,000 after buying an additional 850 shares in the last quarter. US Bancorp DE lifted its stake in shares of Intra-Cellular Therapies by 210.4% in the first quarter. US Bancorp DE now owns 1,639 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 1,111 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Intra-Cellular Therapies by 33.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,310 shares of the biopharmaceutical company’s stock worth $162,000 after buying an additional 1,597 shares in the last quarter. Hedge funds and other institutional investors own 71.91% of the company’s stock.

ITCI has been the topic of several research analyst reports. JMP Securities boosted their price target on shares of Intra-Cellular Therapies from $47.00 to $54.00 and gave the company an “outperform” rating in a research report on Wednesday, September 9th. Royal Bank of Canada boosted their price target on shares of Intra-Cellular Therapies from $33.00 to $43.00 in a research report on Thursday, September 10th. Zacks Investment Research cut shares of Intra-Cellular Therapies from a “hold” rating to a “sell” rating in a research report on Tuesday, September 15th. Canaccord Genuity reiterated a “buy” rating and set a $70.00 price target on shares of Intra-Cellular Therapies in a research report on Tuesday, August 11th. Finally, BTIG Research boosted their price objective on shares of Intra-Cellular Therapies from $68.00 to $80.00 in a research note on Wednesday, September 9th. Two analysts have rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $49.57.

NASDAQ:ITCI opened at $25.66 on Thursday. Intra-Cellular Therapies has a one year low of $6.75 and a one year high of $43.56. The company’s 50-day simple moving average is $22.95 and its 200 day simple moving average is $20.79. The firm has a market capitalization of $1.73 billion, a P/E ratio of -8.39 and a beta of 1.68.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly earnings data on Monday, August 10th. The biopharmaceutical company reported ($0.96) EPS for the quarter, missing the consensus estimate of ($0.94) by ($0.02). The company had revenue of $1.91 million for the quarter, compared to analyst estimates of $3.05 million. As a group, analysts anticipate that Intra-Cellular Therapies will post -3.66 earnings per share for the current year.

Intra-Cellular Therapies Company Profile

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

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