Incyte Co. (NASDAQ:INCY) Stake Trimmed by PDT Partners LLC

PDT Partners LLC cut its position in shares of Incyte Co. (NASDAQ:INCY) by 29.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,334 shares of the biopharmaceutical company’s stock after selling 1,400 shares during the quarter. PDT Partners LLC’s holdings in Incyte were worth $230,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC lifted its position in shares of Incyte by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 4,040,086 shares of the biopharmaceutical company’s stock valued at $278,346,000 after acquiring an additional 103,910 shares in the last quarter. AQR Capital Management LLC raised its stake in Incyte by 29.7% during the 4th quarter. AQR Capital Management LLC now owns 3,502,813 shares of the biopharmaceutical company’s stock valued at $241,519,000 after purchasing an additional 801,090 shares during the period. LSV Asset Management lifted its holdings in shares of Incyte by 18.6% in the fourth quarter. LSV Asset Management now owns 3,467,490 shares of the biopharmaceutical company’s stock valued at $239,500,000 after purchasing an additional 544,080 shares in the last quarter. Norges Bank acquired a new stake in shares of Incyte in the fourth quarter worth $121,890,000. Finally, Northern Trust Corp grew its holdings in shares of Incyte by 9.7% during the fourth quarter. Northern Trust Corp now owns 1,696,123 shares of the biopharmaceutical company’s stock valued at $117,151,000 after buying an additional 150,672 shares in the last quarter. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Incyte news, EVP Barry P. Flannelly sold 19,807 shares of the stock in a transaction on Friday, March 14th. The shares were sold at an average price of $67.69, for a total value of $1,340,735.83. Following the completion of the sale, the executive vice president now directly owns 33,567 shares of the company’s stock, valued at $2,272,150.23. This represents a 37.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Sheila A. Denton sold 599 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $69.99, for a total transaction of $41,924.01. Following the transaction, the executive vice president now owns 25,848 shares in the company, valued at approximately $1,809,101.52. The trade was a 2.26 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,475 shares of company stock valued at $2,424,751. 17.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

INCY has been the subject of a number of research reports. Citigroup decreased their price objective on Incyte from $97.00 to $88.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Guggenheim cut shares of Incyte from a “buy” rating to a “neutral” rating and set a $92.00 price target for the company. in a report on Tuesday, March 18th. Royal Bank of Canada upped their price objective on shares of Incyte from $64.00 to $67.00 and gave the company a “sector perform” rating in a research note on Wednesday. StockNews.com raised shares of Incyte from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Finally, William Blair downgraded shares of Incyte from an “outperform” rating to a “market perform” rating in a research note on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $73.53.

Incyte Stock Up 0.8 %

INCY opened at $62.53 on Friday. Incyte Co. has a twelve month low of $52.73 and a twelve month high of $83.95. The firm has a market cap of $12.10 billion, a P/E ratio of 231.60, a price-to-earnings-growth ratio of 0.41 and a beta of 0.89. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.94 and a current ratio of 1.97. The business has a 50 day moving average price of $62.53 and a 200 day moving average price of $68.85.

Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.15. The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $996.17 million. Incyte had a return on equity of 0.05% and a net margin of 0.77%. The firm’s revenue was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.64 EPS. Research analysts forecast that Incyte Co. will post 4.86 EPS for the current year.

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.