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 $925,275 were sold by Mates Sharon on Mar 13. At $44.99 per share, Mates Sharon sold 20,565 shares. The insider’s holdings dropped to 1,130,309 shares worth approximately $51.15 million following the completion of this transaction.
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Also, Durgam Suresh K. sold 7,344 shares, netting a total of over 330,794 in proceeds. Following the sale of shares at $45.04 each, the insider now holds 23,104 shares.
Before that, Halstead Michael had sold 7,344 shares from its account. In a trade valued at $330,007, the EVP and General Counsel traded Intra-Cellular Therapies Inc. shares for $44.94 each. Upon closing the transaction, the insider’s holdings decreased to 7,344 shares, worth approximately $0.0.
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 7.65% 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 Stock Performance
On Thursday, Intra-Cellular Therapies Inc. [NASDAQ: ITCI] rose 3.31% to $45.25. The stock’s lowest price that day was $43.18, but it reached a high of $45.65 in the same session. During the last five days, there has been a surge of approximately 2.28%. Over the course of the year, Intra-Cellular Therapies Inc. shares have dropped approximately -14.49%. Shares of the company reached a 52-week high of $53.29 on 01/03/23 and a 52-week low of $42.01 on 03/10/23. A 50-day SMA is recorded $47.98, while a 200-day SMA reached $50.92. Nevertheless, trading volume fell to 0.62 million shares from 0.7 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 43.74, which, if violated, would cause prices to drop to 42.22. In the upper region, resistance lies at 46.21. The next price resistance is at 47.16. RSI (Relative Strength Index) is 44.21 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.44, which suggests the price will decrease in the coming days. Percent R is at 66.50%, indicating low price movement. Stochastics %K at holding 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 steep in short interest on Jan 12, 2023 dropping by -0.4 million shares to 2.59 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2022 was 2.99 million shares. A decline of -15.44% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 4.48 of the overall float, the days-to-cover ratio (short ratio) decline to 4.48.
Which companies own the most shares of Intra-Cellular Therapies Inc. (ITCI)?
According to Fidelity Management & Research Co filings, the company currently owns 12,017,383 shares, which is about 12.69% of the total ITCI shares outstanding. The investor’s shares have appreciated by 1,761,372 from its previous 13-F filing of 10256011.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $396,072,920. BlackRock Fund Advisors acquire a 4.79% interest valued at $308.99 million while Wellington Management Co. LLP purchased a 250,935 stake. A total of -503,145 shares of Intra-Cellular Therapies Inc. were bought by Wasatch Advisors, Inc. during the quarter, and 12,957 were bought by Bellevue Asset Management AG. In its current portfolio, AllianceBernstein LP holds 2,013,747 shares valued at $98.73 million.
In terms of Intra-Cellular Therapies Inc. share price expectations, FactSet research, analysts set an average price target of $69.08 in the next 12 months, up nearly 50.68% from the previous closing price of $43.80. Analysts anticipate Intra-Cellular Therapies Inc. stock to reach $93.00 by 2023, with the lowest price target being $53.00. In spite of this, 14 analysts ranked Intra-Cellular Therapies Inc. stock as a Buy at the end of 2023. On February 16, 2022, Goldman assigned a price target of “a Buy” to the stock and initiated coverage with a $64.