The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Intra-Cellular Therapies Inc. shares valued at $592,200 were sold by MARCUS JOEL S on Aug 11. At $59.22 per share, MARCUS JOEL S sold 10,000 shares. The insider’s holdings dropped to 44,233 shares worth approximately $2.02 million following the completion of this transaction.
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Also, VAN NOSTRAND ROBERT L sold 30,000 shares, netting a total of over 1,713,975 in proceeds. Following the sale of shares at $57.13 each, the insider now holds 9,043 shares.
Before that, MARCUS JOEL S had sold 10,000 shares from its account. In a trade valued at $550,000, the Director traded Intra-Cellular Therapies Inc. shares for $55.00 each. Upon closing the transaction, the insider’s holdings decreased to 10,000 shares, worth approximately $2.48 million.
As published in a research note from Goldman on August 22, 2022, Intra-Cellular Therapies Inc. [ITCI] has been rated down from a Buy to a Neutral and the price target has been revised to $49 from $64. This represents a 6.71% premium over Thursday’s closing price. Analysts at Mizuho started covering the stock with ‘”a Buy”‘ outlook in a report released in early July. As of June 14, 2022, UBS has initiated its “Buy” rating for ITCI. Earlier on April 22, 2022, Piper Sandler initiated its rating. Their recommendation was “a Neutral” for ITCI stock.
Analyzing ITCI’s Price Performance
On Thursday, Intra-Cellular Therapies Inc. [NASDAQ: ITCI] rose 3.30% to $45.71. The stock’s lowest price that day was $42.93, but it reached a high of $46.34 in the same session. During the last five days, there has been a drop of approximately -9.54%. Over the course of the year, Intra-Cellular Therapies Inc. shares have dropped approximately -12.67%. Shares of the company reached a 52-week high of $66.00 on 04/07/22 and a 52-week low of $38.51 on 01/21/22. A 50-day SMA is recorded $52.56, while a 200-day SMA reached $53.02. Nevertheless, trading volume fell to 1.35 million shares from 0.71 million shares the previous day.
Support And Resistance Levels for Intra-Cellular Therapies Inc. (ITCI)
According to the 24-hour chart, there is a support level at 43.65, which, if violated, would cause prices to drop to 41.58. In the upper region, resistance lies at 47.06. The next price resistance is at 48.40. RSI (Relative Strength Index) is 35.70 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -4.29, which suggests the price will decrease in the coming days. Percent R is at 73.90%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Intra-Cellular Therapies Inc. subject to short interest?
Stocks of Intra-Cellular Therapies Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.12 million shares to 3.71 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 3.59 million shares. A jump of 3.23% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 4.79 of the overall float, the days-to-cover ratio (short ratio) jumped to 4.79.
Which companies own the most shares of Intra-Cellular Therapies Inc. (ITCI)?
According to Fidelity Management & Research Co filings, the company currently owns 10,317,288 shares, which is about 10.93% of the total ITCI shares outstanding. The investor’s shares have plunged by -568,753 from its previous 13-F filing of 10886041.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $394,525,369. BlackRock Fund Advisors acquire a 10.78% interest valued at $302.25 million while Wasatch Advisors, Inc. sold a -2,086,803 stake. A total of 402,198 shares of Intra-Cellular Therapies Inc. were sold by Wellington Management Co. LLP during the quarter, and -80,240 were sold by Bellevue Asset Management AG. In its current portfolio, AllianceBernstein LP holds 2,112,587 shares valued at $106.18 million.
In terms of Intra-Cellular Therapies Inc. share price expectations, FactSet research, analysts set an average price target of $69.15 in the next 12 months, up nearly 58.19% from the previous closing price of $44.25. Analysts anticipate Intra-Cellular Therapies Inc. stock to reach $90.00 by 2022, with the lowest price target being $49.00. On February 16, 2022, Goldman assigned a price target of “a Buy” to the stock and initiated coverage with a $64.