Incyte Corporation $INCY Shares Sold by Bryn Mawr Trust Advisors LLC

Bryn Mawr Trust Advisors LLC reduced its position in shares of Incyte Corporation (NASDAQ:INCY) by 10.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,298 shares of the biopharmaceutical company’s stock after selling 500 shares during the quarter. Bryn Mawr Trust Advisors LLC’s holdings in Incyte were worth $293,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its stake in Incyte by 0.7% during the first quarter. Principal Financial Group Inc. now owns 213,947 shares of the biopharmaceutical company’s stock valued at $12,954,000 after buying an additional 1,419 shares in the last quarter. Cerity Partners LLC lifted its holdings in Incyte by 103.5% in the 1st quarter. Cerity Partners LLC now owns 132,703 shares of the biopharmaceutical company’s stock worth $8,035,000 after purchasing an additional 67,495 shares during the last quarter. State of Michigan Retirement System raised its holdings in Incyte by 0.5% in the 1st quarter. State of Michigan Retirement System now owns 43,559 shares of the biopharmaceutical company’s stock worth $2,637,000 after acquiring an additional 200 shares during the period. CWM LLC increased its stake in shares of Incyte by 87.1% in the first quarter. CWM LLC now owns 107,429 shares of the biopharmaceutical company’s stock worth $6,505,000 after purchasing an additional 50,005 shares during the period. Finally, MQS Management LLC acquired a new position in Incyte during the 1st quarter valued at $237,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

Incyte Stock Up 0.7%

NASDAQ INCY opened at $105.98 on Friday. The company has a current ratio of 3.20, a quick ratio of 2.78 and a debt-to-equity ratio of 0.01. The company has a market cap of $20.81 billion, a price-to-earnings ratio of 17.75, a PEG ratio of 0.70 and a beta of 0.74. The company has a 50 day moving average of $88.29 and a 200-day moving average of $76.48. Incyte Corporation has a 1-year low of $53.56 and a 1-year high of $106.47.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on INCY shares. Zacks Research upgraded shares of Incyte from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 10th. Bank of America lifted their price target on shares of Incyte from $90.00 to $104.00 and gave the stock a “buy” rating in a research report on Thursday, September 4th. Wells Fargo & Company upped their target price on shares of Incyte from $89.00 to $97.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Citigroup raised their price objective on shares of Incyte from $88.00 to $103.00 and gave the stock a “buy” rating in a report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Incyte from $73.00 to $89.00 and gave the stock a “neutral” rating in a research report on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $92.77.

Insiders Place Their Bets

In related news, EVP Sheila A. Denton sold 598 shares of Incyte stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $101.36, for a total transaction of $60,613.28. Following the sale, the executive vice president directly owned 26,569 shares in the company, valued at $2,693,033.84. This trade represents a 2.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lee Heeson sold 3,074 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $94.02, for a total transaction of $289,017.48. Following the sale, the executive vice president owned 29,241 shares of the company’s stock, valued at approximately $2,749,238.82. This trade represents a 9.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 4,227 shares of company stock worth $396,327. Insiders own 17.80% of the company’s stock.

Incyte 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.