Dynamic Technology Lab Private Ltd Buys Shares of 15,446 Intra-Cellular Therapies Inc. (ITCI)
Dynamic Technology Lab Private Ltd bought a new position in Intra-Cellular Therapies Inc. (NASDAQ:ITCI) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 15,446 shares of the biopharmaceutical company’s stock, valued at approximately $244,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Russell Investments Group Ltd. acquired a new position in shares of Intra-Cellular Therapies during the 3rd quarter worth $101,000. SG Americas Securities LLC acquired a new position in shares of Intra-Cellular Therapies during the 2nd quarter worth $103,000. Quantbot Technologies LP increased its stake in shares of Intra-Cellular Therapies by 233.1% during the 3rd quarter. Quantbot Technologies LP now owns 8,614 shares of the biopharmaceutical company’s stock worth $135,000 after purchasing an additional 6,028 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Intra-Cellular Therapies by 53.4% during the 1st quarter. Bank of America Corp DE now owns 9,660 shares of the biopharmaceutical company’s stock worth $157,000 after purchasing an additional 3,363 shares during the last quarter. Finally, Fred Alger Management Inc. acquired a new position in shares of Intra-Cellular Therapies during the 2nd quarter worth $161,000. Institutional investors own 74.41% of the company’s stock.
Intra-Cellular Therapies Inc. (ITCI) opened at $14.67 on Thursday. Intra-Cellular Therapies Inc. has a 12 month low of $7.85 and a 12 month high of $22.67.
Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.53) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.53). The company had revenue of $0.03 million for the quarter, compared to analyst estimates of $0.06 million. Intra-Cellular Therapies had a negative net margin of 28,038.35% and a negative return on equity of 27.40%. The business’s quarterly revenue was up 675.0% on a year-over-year basis. During the same period last year, the business posted ($0.70) EPS. analysts forecast that Intra-Cellular Therapies Inc. will post -2.16 earnings per share for the current fiscal year.
A number of research analysts recently issued reports on ITCI shares. Zacks Investment Research upgraded shares of Intra-Cellular Therapies from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a research note on Wednesday, November 8th. BTIG Research reiterated a “buy” rating and issued a $36.00 target price on shares of Intra-Cellular Therapies in a research note on Friday, September 8th. Piper Jaffray Companies upgraded shares of Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and raised their target price for the company from $14.00 to $33.00 in a research note on Thursday, September 7th. SunTrust Banks reiterated a “hold” rating and issued a $22.00 target price (up from $16.00) on shares of Intra-Cellular Therapies in a research note on Friday, September 8th. Finally, Leerink Swann upgraded shares of Intra-Cellular Therapies from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 23rd. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $25.00.
In other Intra-Cellular Therapies news, CEO Sharon Mates sold 18,750 shares of the firm’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $15.75, for a total value of $295,312.50. Following the sale, the chief executive officer now directly owns 1,107,457 shares in the company, valued at approximately $17,442,447.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Alafi Capital Co Llc purchased 258,065 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was bought at an average price of $15.50 per share, for a total transaction of $4,000,007.50. Following the completion of the transaction, the insider now directly owns 3,953,270 shares in the company, valued at $61,275,685. The disclosure for this purchase can be found here. Company insiders own 19.80% of the company’s stock.
About Intra-Cellular Therapies
Intra-Cellular Therapies, Inc (ITI) is a biopharmaceutical company. The Company is focused 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 (CNS).
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