Grantham Mayo Van Otterloo & Co. LLC Trims Stake in Incyte Co. (NASDAQ:INCY)

Grantham Mayo Van Otterloo & Co. LLC lessened its position in Incyte Co. (NASDAQ:INCY) by 21.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 455,699 shares of the biopharmaceutical company’s stock after selling 125,360 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC owned approximately 0.24% of Incyte worth $31,475,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in INCY. Quintet Private Bank Europe S.A. purchased a new position in Incyte during the fourth quarter valued at $26,000. Global X Japan Co. Ltd. lifted its position in Incyte by 144.7% during the 4th quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 230 shares during the period. R Squared Ltd bought a new stake in Incyte during the fourth quarter worth about $30,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Incyte in the third quarter worth about $33,000. Finally, Blue Trust Inc. increased its stake in shares of Incyte by 124.6% during the fourth quarter. Blue Trust Inc. now owns 593 shares of the biopharmaceutical company’s stock valued at $39,000 after purchasing an additional 329 shares in the last quarter. 96.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

INCY has been the topic of a number of analyst reports. Truist Financial dropped their price target on Incyte from $74.00 to $72.00 and set a “hold” rating on the stock in a research report on Tuesday, March 18th. Guggenheim cut Incyte from a “buy” rating to a “neutral” rating and set a $92.00 target price on the stock. in a research note on Tuesday, March 18th. Stifel Nicolaus lifted their price target on Incyte from $75.00 to $77.00 and gave the stock a “hold” rating in a research report on Monday, February 10th. StockNews.com downgraded shares of Incyte from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th. Finally, Wells Fargo & Company lifted their target price on shares of Incyte from $68.00 to $70.00 and gave the stock an “equal weight” rating in a report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Incyte presently has a consensus rating of “Hold” and an average price target of $74.88.

Incyte Trading Down 3.0 %

Shares of NASDAQ:INCY opened at $60.58 on Friday. The stock’s 50-day simple moving average is $68.41 and its two-hundred day simple moving average is $69.97. The stock has a market capitalization of $11.72 billion, a price-to-earnings ratio of 224.38, a PEG ratio of 0.41 and a beta of 0.89. Incyte Co. has a 52-week low of $50.35 and a 52-week high of $83.95. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.94 and a current ratio of 1.97.

Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.48). Incyte had a return on equity of 0.05% and a net margin of 0.77%. Analysts expect that Incyte Co. will post 4.86 EPS for the current year.

Insider Activity

In other news, EVP Sheila A. Denton sold 599 shares of Incyte stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $69.99, for a total transaction of $41,924.01. Following the transaction, the executive vice president now directly owns 25,848 shares of the company’s stock, valued at $1,809,101.52. The trade was a 2.26 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Steven H. Stein sold 12,352 shares of the company’s 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 transaction, the executive vice president now directly owns 66,967 shares of the company’s stock, valued at $4,867,831.23. This represents a 15.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 46,827 shares of company stock valued at $3,322,618 in the last 90 days. Company insiders own 17.60% of the company’s stock.

Incyte Company 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.