New Age Alpha Advisors LLC Makes New $1.16 Million Investment in Incyte Co. (NASDAQ:INCY)

New Age Alpha Advisors LLC acquired a new position in shares of Incyte Co. (NASDAQ:INCY - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 16,742 shares of the biopharmaceutical company's stock, valued at approximately $1,156,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Quintet Private Bank Europe S.A. bought a new stake in shares of Incyte in the 4th quarter worth approximately $26,000. Global X Japan Co. Ltd. lifted its stake in Incyte by 144.7% in the fourth quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company's stock valued at $27,000 after buying an additional 230 shares during the last quarter. R Squared Ltd acquired a new position in shares of Incyte during the fourth quarter valued at $30,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Incyte during the third quarter worth about $33,000. Finally, Groupama Asset Managment increased its holdings in shares of Incyte by 11.4% in the 3rd quarter. Groupama Asset Managment now owns 59,597 shares of the biopharmaceutical company's stock worth $39,000 after acquiring an additional 6,105 shares during the period. Institutional investors and hedge funds own 96.97% of the company's stock.

Incyte Price Performance

Shares of NASDAQ INCY traded down $1.88 during trading on Friday, hitting $60.58. The company had a trading volume of 3,670,885 shares, compared to its average volume of 2,351,276. Incyte Co. has a 52 week low of $50.35 and a 52 week high of $83.95. The business's 50-day moving average is $68.41 and its 200 day moving average is $69.97. The company has a market cap of $11.72 billion, a P/E ratio of 224.38, a PEG ratio of 0.41 and a beta of 0.89. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.94 and a current ratio of 1.97.

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Incyte (NASDAQ:INCY - Get Free Report) last announced its earnings results 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%. Equities research analysts predict that Incyte Co. will post 4.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Incyte news, EVP Barry P. Flannelly sold 19,807 shares of the business's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $67.69, for a total transaction of $1,340,735.83. Following the sale, the executive vice president now directly owns 33,567 shares of the company's stock, valued at $2,272,150.23. The trade was a 37.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Steven H. Stein sold 12,352 shares of the firm's stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $72.69, for a total value of $897,866.88. Following the completion of the sale, the executive vice president now directly 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 position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 46,827 shares of company stock worth $3,322,618. Company insiders own 17.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. William Blair lowered shares of Incyte from an "outperform" rating to a "market perform" rating in a research note on Tuesday, March 18th. Royal Bank of Canada reduced their price objective on Incyte from $70.00 to $68.00 and set a "sector perform" rating for the company in a research report on Tuesday, February 11th. Wells Fargo & Company raised their target price on Incyte from $68.00 to $70.00 and gave the company an "equal weight" rating in a research report on Thursday, December 19th. Truist Financial reduced their price target on Incyte from $74.00 to $72.00 and set a "hold" rating for the company in a research report on Tuesday, March 18th. Finally, Morgan Stanley decreased their price target on Incyte from $69.00 to $65.00 and set an "equal weight" rating for the company in a research note on Monday, March 24th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $74.88.

Incyte 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.