Avoro Capital Advisors Reduces Its Stake in ITCI ($ITCI)
Avoro Capital Advisors completely exited its position in ITCI, selling 625,000 shares.
Key Points
- Avoro Capital Advisors sold its entire 625,000-share stake in ITCI, leaving no remaining shares as of its latest 13F filing.
- ITCI insiders, including EVP Suresh Durgam and EVP Mark Neumann, traded shares in April, with Durgam selling and Neumann buying.
- Analysts from firms like Cantor Fitzgerald and Mizuho have set a hold rating on ITCI, with price targets around $132.
Avoro Capital Advisors has completely exited its position in ITCI, according to its latest Form 13F filing with the SEC. The fund sold all 625,000 shares it previously held, resulting in a 100% reduction in its stake. This move reflects the fund's decision to divest entirely from the company.
What Changed in Avoro Capital Advisors' ITCI Position
Avoro Capital Advisors sold its entire holding of 625,000 shares in ITCI, effectively cutting its position to zero. This was a full exit from the stock, indicating a significant shift in their investment strategy regarding ITCI.
Other Institutional Activity in ITCI
Among other institutional investors, Huntington National Bank maintained its position in ITCI with just 1 share, valued at approximately $2,540. This indicates that there wasn't much activity from other funds in the reporting period.
Insider Buying and Selling at ITCI
In April 2025, several insiders at ITCI traded shares. Suresh Durgam, the EVP and Chief Medical Officer, sold 42,913 shares at an average price of $132. On the same day, Mark Neumann, the EVP and Chief Commercial Officer, purchased 21,876 shares, although the price was not specified. Joel Marcus also sold a total of 62,560 shares, with some transactions occurring at $132 per share.
Analysts Set New Price Targets
Analyst activity around ITCI has been notable. On April 2, 2025, Cantor Fitzgerald reiterated its hold rating with a price target of $132. Earlier in the year, Mizuho, Canaccord Genuity, RBC Capital, and Piper Sandler all downgraded the stock to a hold, setting a price target of $132. Needham maintained a buy rating in July 2024 with a target of $100, while Goldman Sachs maintained a hold rating with a target of $74 in August 2024.
About ITCI
ITCI, or Intra-Cellular Therapies, Inc., is a biopharmaceutical company focused on developing treatments for central nervous system disorders. Headquartered in New York, the company works on innovative therapies to address unmet medical needs in psychiatry and neurology. Their research and development efforts aim to create new drug solutions for mental health conditions.
Bottom Line
Avoro Capital Advisors' decision to sell all its shares in ITCI is a clear indication of its strategic shift away from the company. While insider trading activity and analyst ratings provide additional context, it's important to remember that 13F filings are backward-looking and may not reflect current positions. Investors track these filings to gauge fund managers' confidence in specific stocks.
See Also
This instant news alert was generated by automated narrative technology and financial data from Trueearnings and public regulatory filings. It is for informational purposes only and is not financial advice.