Choreo LLC Sells 204 Shares of Incyte Co. (NASDAQ:INCY)

Choreo LLC lessened its holdings in Incyte Co. (NASDAQ:INCY) by 1.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,172 shares of the biopharmaceutical company’s stock after selling 204 shares during the period. Choreo LLC’s holdings in Incyte were worth $972,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of INCY. Point72 Asset Management L.P. acquired a new stake in shares of Incyte in the third quarter worth $156,611,000. Mizuho Securities USA LLC lifted its position in Incyte by 13,814.7% during the 3rd quarter. Mizuho Securities USA LLC now owns 2,000,100 shares of the biopharmaceutical company’s stock worth $132,207,000 after acquiring an additional 1,985,726 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Incyte by 29.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,609,220 shares of the biopharmaceutical company’s stock worth $106,369,000 after acquiring an additional 364,169 shares during the last quarter. Bridgewater Associates LP boosted its holdings in Incyte by 142.8% during the third quarter. Bridgewater Associates LP now owns 308,632 shares of the biopharmaceutical company’s stock valued at $20,401,000 after acquiring an additional 181,504 shares during the period. Finally, Point72 Europe London LLP acquired a new stake in shares of Incyte in the third quarter valued at about $5,975,000. 96.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on INCY. Bank of America upgraded Incyte from a “neutral” rating to a “buy” rating and upped their price target for the stock from $68.00 to $90.00 in a report on Tuesday, October 29th. JPMorgan Chase & Co. upped their target price on shares of Incyte from $65.00 to $71.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Oppenheimer raised their price target on shares of Incyte from $81.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. William Blair reaffirmed an “outperform” rating on shares of Incyte in a research report on Friday, December 13th. Finally, Morgan Stanley lifted their target price on Incyte from $64.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $75.71.

Insider Buying and Selling at Incyte

In other Incyte news, EVP Vijay K. Iyengar sold 6,043 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $75.38, for a total transaction of $455,521.34. Following the sale, the executive vice president now owns 30,658 shares of the company’s stock, valued at $2,311,000.04. This represents a 16.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Thomas Tray sold 650 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $70.64, for a total transaction of $45,916.00. Following the completion of the transaction, the insider now directly owns 23,962 shares of the company’s stock, valued at approximately $1,692,675.68. This represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,695 shares of company stock worth $1,444,356. 17.60% of the stock is currently owned by insiders.

Incyte Stock Down 1.1 %

Shares of INCY opened at $74.13 on Monday. The company has a market capitalization of $14.28 billion, a P/E ratio of 529.54, a PEG ratio of 0.53 and a beta of 0.70. Incyte Co. has a one year low of $50.35 and a one year high of $83.95. The business’s 50 day simple moving average is $71.79 and its 200-day simple moving average is $69.16. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.87 and a quick ratio of 1.82.

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.