Incyte Co. (NASDAQ:INCY) Position Cut by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC trimmed its holdings in Incyte Co. (NASDAQ:INCY) by 7.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,984 shares of the biopharmaceutical company’s stock after selling 2,341 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Incyte were worth $2,140,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. CX Institutional grew its holdings in Incyte by 15.9% in the 4th quarter. CX Institutional now owns 3,902 shares of the biopharmaceutical company’s stock worth $270,000 after buying an additional 535 shares in the last quarter. RFG Advisory LLC bought a new position in Incyte in the 4th quarter worth approximately $200,000. Whalen Wealth Management Inc. bought a new position in Incyte in the 4th quarter worth approximately $245,000. Janney Montgomery Scott LLC grew its holdings in Incyte by 1.8% in the 4th quarter. Janney Montgomery Scott LLC now owns 27,047 shares of the biopharmaceutical company’s stock worth $1,868,000 after buying an additional 491 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in Incyte by 262.2% in the 4th quarter. SG Americas Securities LLC now owns 99,407 shares of the biopharmaceutical company’s stock worth $6,866,000 after buying an additional 71,963 shares in the last quarter. 96.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on INCY shares. William Blair reaffirmed an “outperform” rating on shares of Incyte in a research note on Friday, December 13th. Bank of America raised Incyte from a “neutral” rating to a “buy” rating and increased their price target for the company from $68.00 to $90.00 in a research note on Tuesday, October 29th. UBS Group started coverage on Incyte in a research note on Tuesday, December 17th. They set a “neutral” rating and a $77.00 price target for the company. BMO Capital Markets reaffirmed an “underperform” rating and set a $52.00 price target (up from $48.00) on shares of Incyte in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company increased their price target on Incyte from $68.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday, December 19th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $75.71.

Insider Activity at Incyte

In related news, EVP Steven H. Stein sold 12,352 shares of Incyte stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $72.69, for a total transaction of $897,866.88. Following the completion of the sale, the executive vice president now owns 66,967 shares of the company’s stock, valued at approximately $4,867,831.23. This trade represents a 15.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas Tray sold 650 shares of Incyte stock in a transaction on Monday, December 16th. The shares were sold at an average price of $69.31, for a total value of $45,051.50. Following the sale, the insider now directly owns 23,312 shares of the company’s stock, valued at approximately $1,615,754.72. The trade was a 2.71 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,375 shares of company stock valued at $1,737,578. Insiders own 17.60% of the company’s stock.

Incyte Stock Performance

Shares of Incyte stock opened at $72.59 on Monday. The stock has a market cap of $13.98 billion, a PE ratio of 518.54, a price-to-earnings-growth ratio of 0.53 and a beta of 0.71. The business has a fifty day simple moving average of $71.69 and a 200-day simple moving average of $68.48. The company has a quick ratio of 1.82, a current ratio of 1.87 and a debt-to-equity ratio of 0.01. Incyte Co. has a 12 month low of $50.35 and a 12 month high of $83.95.

Incyte (NASDAQ:INCY) last issued its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 EPS for the quarter, missing the consensus estimate of $1.19 by ($0.12). The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.08 billion. Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. The business’s quarterly revenue was up 23.8% on a year-over-year basis. During the same period last year, the business earned $0.91 EPS. On average, sell-side analysts anticipate that Incyte Co. will post 0.39 EPS for the current fiscal year.

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.