An Analysis of Intra-Cellular Therapies Inc (ITCI)’s Potential Price Growth

Intra-Cellular Therapies Inc’s filing revealed that its Chairman, President & CEO Mates Sharon unloaded Company’s shares for reported $1.34 million on Mar 11 ’24. In the deal valued at $65.21 per share,20,565 shares were sold. As a result of this transaction, Mates Sharon now holds 1,050,309 shares worth roughly $68.72 million.

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Then, Hineline Lawrence J. sold 10,121 shares, generating $667,587 in total proceeds. Upon selling the shares at $65.96, the SVP of Finance, CFO now owns 0 shares.

Before that, Halstead Michael sold 7,345 shares. Intra-Cellular Therapies Inc shares valued at $484,537 were divested by the EVP and General Counsel at a price of $65.97 per share. As a result of the transaction, Halstead Michael now holds 0 shares, worth roughly $0.0.

Robert W. Baird initiated its Intra-Cellular Therapies Inc [ITCI] rating to an Outperform in a research note published on January 03, 2024; the price target was $83. A number of analysts have revised their coverage, including TD Cowen’s analysts, who began to cover the stock in mid December with a ‘”an Outperform”‘ rating. Morgan Stanley began covering ITCI with “an Overweight” recommendation on April 20, 2023. Goldman revised its rating on August 22, 2022. It rated ITCI as “a Neutral” which previously was an “a Buy”.

Price Performance Review of ITCI

On Monday, Intra-Cellular Therapies Inc [NASDAQ:ITCI] saw its stock fall -3.04% to $65.43. Over the last five days, the stock has lost -2.68%. Intra-Cellular Therapies Inc shares have fallen nearly -8.64% since the year began. Nevertheless, the stocks have risen 47.90% over the past one year. While a 52-week high of $76.11 was reached on 02/16/24, a 52-week low of $42.01 was recorded on 02/22/24. SMA at 50 days reached $69.35, while 200 days put it at $61.30. A total of 0.64 million shares were traded, compared to the trading of 0.58 million shares in the previous session.

Levels Of Support And Resistance For ITCI Stock

The 24-hour chart illustrates a support level at 64.09, which if violated will result in even more drops to 62.74. On the upside, there is a resistance level at 67.18. A further resistance level may holdings at 68.93. The Relative Strength Index (RSI) on the 14-day chart is 40.12, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -2.85, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 76.68%. Stochastics %K at 29.80% 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 Feb 15, 2024, growing by 0.35 million shares to a total of 3.86 million shares. Yahoo Finance data shows the prior-month short interest on Jan 12, 2024 was 3.51 million shares. There was a rise of 9.07%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 4.65% of the overall stock float, the days-to-cover ratio (short ratio) rose to 4.51.

The most recent change occurred on July 07, 2022 when Mizuho began covering the stock and recommended ‘”a Buy”‘ rating along with a $74 price target.

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