Tredje AP fonden Sells 14,844 Shares of Incyte Co. (NASDAQ:INCY)

Tredje AP fonden reduced its holdings in shares of Incyte Co. (NASDAQ:INCY) by 50.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,845 shares of the biopharmaceutical company’s stock after selling 14,844 shares during the quarter. Tredje AP fonden’s holdings in Incyte were worth $1,025,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Quintet Private Bank Europe S.A. purchased a new position in Incyte during the 4th quarter valued at about $26,000. Global X Japan Co. Ltd. grew its stake in Incyte by 144.7% during the fourth 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 in the last quarter. Brooklyn Investment Group bought a new stake in Incyte during the 3rd quarter worth approximately $30,000. R Squared Ltd bought a new stake in Incyte during the 4th quarter worth approximately $30,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Incyte in the 3rd quarter worth approximately $33,000. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Incyte

In related news, EVP Sheila A. Denton sold 14,069 shares of Incyte stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $74.07, for a total transaction of $1,042,090.83. Following the completion of the transaction, the executive vice president now directly owns 25,848 shares of the company’s stock, valued at $1,914,561.36. This trade represents a 35.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Steven H. Stein sold 12,352 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $72.69, for a total transaction of $897,866.88. Following 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. In the last three months, insiders have sold 27,670 shares of company stock valued at $2,026,933. 17.60% of the stock is currently owned by corporate insiders.

Incyte Trading Up 0.2 %

Shares of INCY opened at $67.86 on Friday. The firm has a fifty day simple moving average of $71.75 and a two-hundred day simple moving average of $70.30. Incyte Co. has a twelve month low of $50.35 and a twelve month high of $83.95. The stock has a market capitalization of $13.13 billion, a P/E ratio of 251.34, a PEG ratio of 0.41 and a beta of 0.76. The company has a quick ratio of 1.94, a current ratio of 1.97 and a debt-to-equity ratio of 0.01.

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

Analyst Ratings Changes

Several research analysts have recently weighed in on INCY shares. UBS Group assumed coverage on shares of Incyte in a report on Tuesday, December 17th. They issued a “neutral” rating and a $77.00 price target on the stock. Royal Bank of Canada decreased their target price on Incyte from $70.00 to $68.00 and set a “sector perform” rating on the stock in a research note on Tuesday, February 11th. StockNews.com downgraded Incyte from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th. JMP Securities restated a “market perform” rating on shares of Incyte in a research report on Tuesday, February 11th. Finally, Stifel Nicolaus boosted their price target on shares of Incyte from $75.00 to $77.00 and gave the stock a “hold” rating in a research note on Monday, February 10th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $75.25.

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.