Dark Forest Capital Management LP Has $414,000 Stake in Incyte Co. (NASDAQ:INCY)

Dark Forest Capital Management LP boosted its holdings in Incyte Co. (NASDAQ:INCY) by 23.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,998 shares of the biopharmaceutical company’s stock after purchasing an additional 1,132 shares during the quarter. Dark Forest Capital Management LP’s holdings in Incyte were worth $414,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Barclays PLC increased its position in shares of Incyte by 8.1% during the third quarter. Barclays PLC now owns 1,031,932 shares of the biopharmaceutical company’s stock worth $68,208,000 after acquiring an additional 77,542 shares in the last quarter. Tri Ri Asset Management Corp bought a new stake in Incyte during the 3rd quarter worth approximately $3,292,000. GAMMA Investing LLC raised its stake in shares of Incyte by 18.3% in the fourth quarter. GAMMA Investing LLC now owns 5,764 shares of the biopharmaceutical company’s stock worth $398,000 after purchasing an additional 890 shares during the last quarter. Everence Capital Management Inc. purchased a new stake in shares of Incyte in the fourth quarter worth approximately $265,000. Finally, Nordea Investment Management AB lifted its holdings in shares of Incyte by 9.2% in the fourth quarter. Nordea Investment Management AB now owns 13,738 shares of the biopharmaceutical company’s stock valued at $945,000 after purchasing an additional 1,153 shares in the last quarter. Institutional investors own 96.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on INCY shares. Truist Financial lowered their price target on Incyte from $74.00 to $72.00 and set a “hold” rating for the company in a research report on Tuesday, March 18th. JPMorgan Chase & Co. dropped their price target on shares of Incyte from $70.00 to $68.00 and set a “neutral” rating on the stock in a research report on Monday, April 21st. Guggenheim downgraded shares of Incyte from a “buy” rating to a “neutral” rating and set a $92.00 price objective for the company. in a research report on Tuesday, March 18th. Stifel Nicolaus lifted their target price on shares of Incyte from $75.00 to $77.00 and gave the stock a “hold” rating in a research report on Monday, February 10th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Incyte in a report on Tuesday, February 11th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Incyte has an average rating of “Hold” and an average target price of $74.69.

Incyte Stock Up 0.3 %

INCY opened at $59.16 on Friday. Incyte Co. has a 12 month low of $50.35 and a 12 month high of $83.95. The company has a market cap of $11.45 billion, a PE ratio of 219.12, a price-to-earnings-growth ratio of 0.41 and a beta of 0.89. The company has a current ratio of 1.97, a quick ratio of 1.94 and a debt-to-equity ratio of 0.01. The company has a 50 day moving average of $63.63 and a 200 day moving average of $69.02.

Incyte (NASDAQ:INCY) last posted its quarterly earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.48). Incyte had a return on equity of 0.05% and a net margin of 0.77%. On average, sell-side analysts expect that Incyte Co. will post 4.86 EPS for the current year.

Insider Buying and Selling at Incyte

In related news, EVP Sheila A. Denton sold 14,069 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $74.07, for a total transaction of $1,042,090.83. Following the sale, the executive vice president now owns 25,848 shares of the company’s stock, valued at approximately $1,914,561.36. This represents a 35.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Barry P. Flannelly sold 19,807 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $67.69, for a total transaction of $1,340,735.83. Following the completion of the sale, the executive vice president now owns 33,567 shares in the company, valued at $2,272,150.23. This represents a 37.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,475 shares of company stock valued at $2,424,751 in the last quarter. 17.60% of the stock is currently owned by corporate insiders.

Incyte Company Profile

Incyte Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapeutics for hematology/oncology, and inflammation and autoimmunity areas in the United States and internationally. The company offers JAKAFI (ruxolitinib) for treatment of intermediate or high-risk myelofibrosis, polycythemia vera, and steroid-refractory acute graft-versus-host disease; MONJUVI (tafasitamab-cxix)/MINJUVI (tafasitamab) for relapsed or refractory diffuse large B-cell lymphoma; PEMAZYRE (pemigatinib), a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in liquid and solid tumor types; ICLUSIG (ponatinib) to treat chronic myeloid leukemia and Philadelphia-chromosome positive acute lymphoblastic leukemia; and ZYNYZ (retifanlimab-dlwr) to treat adults with metastatic or recurrent locally advanced Merkel cell carcinoma, as well as OPZELURA cream for treatment of atopic dermatitis.