Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Intra-Cellular Therapies Inc shares valued at $1,341,123 were sold by Mates Sharon on Mar 11 ’24. At $65.21 per share, Mates Sharon sold 20,565 shares. The insider’s holdings dropped to 1,050,309 shares worth approximately $70.66 million following the completion of this transaction.
Also, Hineline Lawrence J. sold 10,121 shares, netting a total of over 667,587 in proceeds. Following the sale of shares at $65.96 each, the insider now holds 0 shares.
Before that, Halstead Michael had sold 7,345 shares from its account. In a trade valued at $484,537, the EVP and General Counsel traded Intra-Cellular Therapies Inc shares for $65.97 each. Upon closing the transaction, the insider’s holdings decreased to 7,345 shares, worth approximately $0.0.
As published in their initiating research note from Robert W. Baird on January 03, 2024, Intra-Cellular Therapies Inc [ITCI] has been an Outperform and the price target has been revised to $83. Analysts at TD Cowen started covering the stock with ‘”an Outperform”‘ outlook in a report released in mid December. As of April 20, 2023, Morgan Stanley has initiated its “an Overweight” rating for ITCI. Earlier on August 22, 2022, Goldman downgraded its rating. Their new recommendation was “a Neutral” for ITCI stock which previously was a “a Buy”.
Analyzing ITCI Stock Performance
During the last five days, there has been a drop of approximately -0.06%. Over the course of the year, Intra-Cellular Therapies Inc shares have dropped approximately -6.06%. Shares of the company reached a 52-week high of $76.11 on 02/16/24 and a 52-week low of $62.78 on 02/22/24. A 50-day SMA is recorded $68.88, while a 200-day SMA reached $61.71. Nevertheless, trading volume fell to 0.54 million shares from 0.38 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 66.50, which, if violated, would cause prices to drop to 65.72. In the upper region, resistance lies at 68.09. The next price resistance is at 68.90. RSI (Relative Strength Index) is 47.84 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.21, which suggests the price will decrease in the coming days. Percent R is at 67.39%, 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 Mar 15, 2024 dropping by -0.55 million shares to 3.31 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 3.86 million shares. A decline of -16.62% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 4.05 of the overall float, the days-to-cover ratio (short ratio) decline to 4.05.
