The Potential Rise in the Price of Intra-Cellular Therapies Inc. (ITCI) following insiders activity


In a filing, Intra-Cellular Therapies Inc. revealed its EVP, Chief Commercial Officer Neumann Mark unloaded Company’s shares for reported $3.25 million on Aug 07. In the deal valued at $58.79 per share,55,300 shares were sold. As a result of this transaction, Neumann Mark now holds 45,339 shares worth roughly $ 2.53 million.

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Then, Durgam Suresh K. sold 1,842 shares, generating $119,730 in total proceeds. Upon selling the shares at $65.00, the EVP, Chief Medical Officer now owns 21,262 shares.

Before that, Hineline Lawrence J. sold 81,854 shares. Intra-Cellular Therapies Inc. shares valued at $5,236,329 were divested by the SVP of Finance CFO at a price of $63.97 per share. As a result of the transaction, Hineline Lawrence J. now holds 0 shares, worth roughly $0.0.

Morgan Stanley initiated its Intra-Cellular Therapies Inc. [ITCI] rating to an Overweight in a research note published on Friday, April 20, 2023; the price target was $80. PT values the company’s stock at a premium of 30.18 to its Friday closing price.

Price Performance Review of ITCI

On Friday, Intra-Cellular Therapies Inc. [NASDAQ:ITCI] saw its stock jump 0.61% to $55.86. On the same session, the stock had its day’s lowest price of $55.54, but rose to a high of $56.465. Over the last five days, the stock has gained 1.45%. Intra-Cellular Therapies Inc. shares have risen nearly 5.56% since the year began. Nevertheless, the stocks have risen 11.14% over the past one year. While a 52-week high of $67.05 was reached on 06/21/23, a 52-week low of $42.01 was recorded on 03/10/23. SMA at 50 days reached $59.85, while 200 days put it at $55.73. A total of 0.59 million shares were traded, compared to the trading of 0.63 million shares in the previous session.

Levels Of Support And Resistance For ITCI Stock

The 24-hour chart illustrates a support level at 55.44, which if violated will result in even more drops to 55.03. On the upside, there is a resistance level at 56.37. A further resistance level may holdings at 56.88. The Relative Strength Index (RSI) on the 14-day chart is 38.51, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.19, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 71.96%. Stochastics %K at 22.54% indicates the stock is a holding.

How much short interest is there in Intra-Cellular Therapies Inc.?

A steep rise in short interest was recorded in Intra-Cellular Therapies Inc. stocks on Aug 14, 2023, growing by 100000.0 shares to a total of 2.54 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 2.44 million shares. There was a rise of 3.94%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 3.07% of the overall stock float, the days-to-cover ratio (short ratio) rose to 4.12.

Intra-Cellular Therapies Inc. [ITCI] – Who Are The Largest Shareholders?

In filings from Fidelity Management & Research Co, it is revealed that the company now owns 11,169,305 shares, or roughly 11.64% of the outstanding ITCI shares. In other words, the investor’s shares have fallen by -758,252 from its previous 13-F filing of 11927557.0. Additionally, The Vanguard Group, Inc. increased 0.44% of its stake after which the total value it holdings stand at $509,231,127, while BlackRock Fund Advisors added 4.66% of its stake to hold $399.31 million in the firm. Over the last quarter, Wasatch Advisors, Inc. sold -994,557 shares of Intra-Cellular Therapies Inc., while Bellevue Asset Management AG sold -66,200 shares. At present, SSgA Funds Management, Inc. is holding 2,105,705 shares valued at $130.22 million. AllianceBernstein LP owned 2,040,802 shares of the company at the time of its most recent 13F filing, worth $126.2 million.


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