Incyte Co. (NASDAQ:INCY) Shares Sold by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co reduced its position in Incyte Co. (NASDAQ:INCY) by 14.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 178,583 shares of the biopharmaceutical company’s stock after selling 31,115 shares during the period. CANADA LIFE ASSURANCE Co owned approximately 0.08% of Incyte worth $10,181,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in INCY. Wellington Management Group LLP boosted its stake in shares of Incyte by 48.8% during the 4th quarter. Wellington Management Group LLP now owns 131,649 shares of the biopharmaceutical company’s stock valued at $8,266,000 after buying an additional 43,160 shares during the last quarter. Fulton Bank N.A. acquired a new position in Incyte during the 1st quarter valued at approximately $1,425,000. Russell Investments Group Ltd. grew its stake in Incyte by 29.3% during the 4th quarter. Russell Investments Group Ltd. now owns 963,090 shares of the biopharmaceutical company’s stock worth $60,465,000 after buying an additional 217,979 shares during the last quarter. Great Lakes Advisors LLC acquired a new stake in Incyte in the fourth quarter worth $2,033,000. Finally, FORVIS Wealth Advisors LLC bought a new stake in Incyte in the first quarter valued at $1,495,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

Incyte Stock Up 2.5 %

INCY stock opened at $68.57 on Friday. The firm has a market cap of $15.40 billion, a PE ratio of 20.78, a PEG ratio of 1.40 and a beta of 0.73. Incyte Co. has a 1 year low of $50.27 and a 1 year high of $70.36. The company has a fifty day simple moving average of $60.80 and a 200 day simple moving average of $58.70. The company has a current ratio of 3.47, a quick ratio of 3.43 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, April 30th. The biopharmaceutical company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.31). Incyte had a return on equity of 12.83% and a net margin of 19.78%. The company had revenue of $880.89 million for the quarter, compared to the consensus estimate of $935.85 million. Sell-side analysts anticipate that Incyte Co. will post 3.66 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently issued reports on INCY. StockNews.com cut Incyte from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 2nd. TD Cowen decreased their target price on shares of Incyte from $88.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Truist Financial restated a “buy” rating and set a $83.00 price target (down from $84.00) on shares of Incyte in a research report on Wednesday, May 1st. Oppenheimer decreased their price objective on shares of Incyte from $92.00 to $84.00 and set an “outperform” rating for the company in a report on Wednesday, April 24th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Incyte in a report on Thursday, May 23rd. They set a “hold” rating and a $55.00 target price on the stock. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Incyte currently has an average rating of “Hold” and an average price target of $73.44.

Insider Buying and Selling at Incyte

In other news, EVP Barry P. Flannelly sold 1,306 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $64.19, for a total transaction of $83,832.14. Following the sale, the executive vice president now directly owns 58,042 shares in the company, valued at $3,725,715.98. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Thomas Tray sold 1,093 shares of the stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $58.91, for a total value of $64,388.63. Following the completion of the transaction, the insider now owns 21,634 shares of the company’s stock, valued at $1,274,458.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Barry P. Flannelly sold 1,306 shares of Incyte stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $64.19, for a total value of $83,832.14. Following the sale, the executive vice president now directly owns 58,042 shares in the company, valued at $3,725,715.98. The disclosure for this sale can be found here. Insiders sold a total of 29,711 shares of company stock valued at $1,786,941 in the last quarter. Corporate insiders own 17.50% of the company’s stock.

About Incyte

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.