GSA Capital Partners LLP Sells 9,302 Shares of Incyte Corporation $INCY

GSA Capital Partners LLP lessened its position in shares of Incyte Corporation (NASDAQ:INCY) by 68.7% in the third quarter, according to its most recent filing with the SEC. The firm owned 4,235 shares of the biopharmaceutical company’s stock after selling 9,302 shares during the quarter. GSA Capital Partners LLP’s holdings in Incyte were worth $359,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of Nova Scotia boosted its stake in shares of Incyte by 0.7% in the 2nd quarter. Bank of Nova Scotia now owns 17,041 shares of the biopharmaceutical company’s stock valued at $1,160,000 after purchasing an additional 124 shares during the last quarter. MAI Capital Management boosted its position in Incyte by 19.9% during the second quarter. MAI Capital Management now owns 754 shares of the biopharmaceutical company’s stock valued at $51,000 after acquiring an additional 125 shares during the last quarter. Atlantic Edge Private Wealth Management LLC grew its holdings in Incyte by 0.9% during the 3rd quarter. Atlantic Edge Private Wealth Management LLC now owns 14,556 shares of the biopharmaceutical company’s stock worth $1,235,000 after acquiring an additional 125 shares during the period. E Fund Management Co. Ltd. raised its position in shares of Incyte by 0.8% in the 2nd quarter. E Fund Management Co. Ltd. now owns 19,912 shares of the biopharmaceutical company’s stock worth $1,356,000 after acquiring an additional 158 shares in the last quarter. Finally, Wealthfront Advisers LLC lifted its stake in shares of Incyte by 2.4% in the 2nd quarter. Wealthfront Advisers LLC now owns 7,366 shares of the biopharmaceutical company’s stock valued at $502,000 after purchasing an additional 171 shares during the period. Institutional investors and hedge funds own 96.97% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on INCY. TD Cowen reaffirmed a “buy” rating on shares of Incyte in a research note on Tuesday, January 13th. Piper Sandler raised their price objective on shares of Incyte from $102.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, February 6th. The Goldman Sachs Group reiterated a “neutral” rating and set a $90.00 target price on shares of Incyte in a research report on Thursday, January 8th. Zacks Research cut shares of Incyte from a “strong-buy” rating to a “hold” rating in a report on Monday, November 10th. Finally, Wall Street Zen downgraded shares of Incyte from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 14th. Nine investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $104.00.

Incyte Stock Performance

Shares of INCY stock opened at $100.09 on Friday. The company has a current ratio of 3.32, a quick ratio of 3.25 and a debt-to-equity ratio of 0.01. The firm has a fifty day simple moving average of $102.55 and a two-hundred day simple moving average of $95.57. Incyte Corporation has a 12 month low of $53.56 and a 12 month high of $112.29. The firm has a market capitalization of $19.92 billion, a PE ratio of 15.61, a price-to-earnings-growth ratio of 0.80 and a beta of 0.82.

Incyte (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, February 10th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.16). The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.35 billion. Incyte had a net margin of 25.03% and a return on equity of 26.34%. The firm’s quarterly revenue was up 27.8% on a year-over-year basis. During the same period last year, the business posted $1.43 earnings per share. Analysts forecast that Incyte Corporation will post 4.86 EPS for the current fiscal year.

Insider Buying and Selling at Incyte

In related news, EVP Steven H. Stein sold 20,105 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $102.51, for a total transaction of $2,060,963.55. Following the transaction, the executive vice president directly owned 63,129 shares of the company’s stock, valued at $6,471,353.79. This trade represents a 24.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael James Morrissey sold 54,008 shares of the company’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $97.29, for a total transaction of $5,254,438.32. Following the completion of the sale, the executive vice president directly owned 31,830 shares of the company’s stock, valued at $3,096,740.70. The trade was a 62.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 95,225 shares of company stock worth $9,519,745 in the last quarter. 17.80% of the stock is owned by insiders.

Incyte Company Profile

Incyte Corporation is a Wilmington, Delaware–based biopharmaceutical company focused on the discovery, development and commercialization of novel therapies in oncology and inflammation. Since its founding in 2002, Incyte has grown from a small research organization into a global enterprise, advancing a portfolio of internally developed and partnered assets. The company’s research and development efforts center on small-molecule drugs and biologics that modulate critical signaling pathways implicated in cancer, autoimmune disorders and rare diseases.

The company’s flagship product is Jakafi® (ruxolitinib), a Janus kinase (JAK) inhibitor approved for the treatment of myelofibrosis and polycythemia vera.