Should You Consider Investing in Intra-Cellular Therapies (ITCI)?

Wasatch Global Investors, an investment management firm, published its “Wasatch Small Cap Growth Fund” fourth quarter 2021 investor letter – a copy of which can be downloaded here. During the fourth quarter, the benchmark Russell 2000® Growth Index rose 0.01% while the Russell 2000 Index increased 2.14%. Underperforming its benchmark, the Wasatch Small Cap Growth Fund— Investor Class slipped -1.42%. For the one-year period ended December 31, 2021, the Fund’s Investor Class gained 8.32% compared to the 2.83% increase in the Russell 2000 Growth Index and the 14.82% rise in the Russell 2000 Index. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.

Wasatch Small Cap Growth Fund, in its Q4 2021 investor letter, mentioned Intra-Cellular Therapies, Inc. (NASDAQ: ITCI) and discussed its stance on the firm. Intra-Cellular Therapies, Inc. is a New York, New York-based biopharmaceutical company with a $4.9 billion market capitalization. ITCI delivered a 1.70% return since the beginning of the year, while its 12-month returns are up by 59.75%. The stock closed at $53.23 per share on March 07, 2022.

Here is what Wasatch Small Cap Growth Fund has to say about Intra-Cellular Therapies, Inc. in its Q4 2021 investor letter:

“Intra-Cellular Therapies, Inc. (ITCI) was also a large contributor. The company develops therapeutics for disorders of the central nervous system. Intra-Cellular’s stock price jumped in December
after the Food and Drug Administration (FDA) approved the company’s anti-psychotic drug, Caplyta, for the treatment of depressive episodes associated with bipolar I or II disorder in adults. Previously approved for the treatment of schizophrenia, the drug’s appeal for treating bipolar depression is significantly enhanced by its favorable safety and tolerability profile. The FDA’s action now sets the stage for Caplyta’s possible authorization to treat autism spectrum disorder, certain neurologically based sleep disorders and potentially major depressive disorder as well.”

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Our calculations show that Intra-Cellular Therapies, Inc. (NASDAQ: ITCI) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. ITCI was in 19 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 20 funds in the previous quarter. Intra-Cellular Therapies, Inc. (NASDAQ: ITCI) delivered a 51.22% return in the past 3 months.

In September 2021, we also shared another hedge fund’s views on ITCI in another article. You can find other letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.

Disclosure: None. This article is originally published at Insider Monkey.