AXQ Capital LP Buys New Shares in Incyte Co. (NASDAQ:INCY)

AXQ Capital LP acquired a new position in shares of Incyte Co. (NASDAQ:INCY - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,598 shares of the biopharmaceutical company's stock, valued at approximately $456,000.

Other large investors also recently made changes to their positions in the company. Point72 Asset Management L.P. bought a new position in shares of Incyte in the 3rd quarter worth $156,611,000. Charles Schwab Investment Management Inc. raised its holdings in Incyte by 29.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,609,220 shares of the biopharmaceutical company's stock worth $106,369,000 after buying an additional 364,169 shares during the last quarter. Candriam S.C.A. lifted its stake in shares of Incyte by 27.8% in the fourth quarter. Candriam S.C.A. now owns 1,034,652 shares of the biopharmaceutical company's stock valued at $71,463,000 after buying an additional 224,919 shares in the last quarter. LBP AM SA acquired a new position in shares of Incyte during the fourth quarter valued at about $13,905,000. Finally, Los Angeles Capital Management LLC increased its position in shares of Incyte by 94.1% during the fourth quarter. Los Angeles Capital Management LLC now owns 407,201 shares of the biopharmaceutical company's stock worth $28,125,000 after acquiring an additional 197,406 shares in the last quarter. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Incyte Stock Performance

Shares of NASDAQ:INCY traded down $0.74 during trading on Tuesday, hitting $62.04. 1,187,961 shares of the company were exchanged, compared to its average volume of 2,266,270. The company has a market cap of $12.01 billion, a PE ratio of 229.79, a P/E/G ratio of 0.41 and a beta of 0.76. 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 current ratio of 1.97 and a quick ratio of 1.94. The stock has a 50 day moving average of $70.42 and a 200 day moving average of $70.17.

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Incyte (NASDAQ:INCY - Get Free Report) last issued 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%. As a group, equities research analysts predict that Incyte Co. will post 4.86 EPS for the current year.

Insider Buying and Selling at Incyte

In other Incyte news, EVP Steven H. Stein sold 12,352 shares of the company's stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $72.69, for a total value of $897,866.88. Following the transaction, the executive vice president now directly owns 66,967 shares in the company, valued at $4,867,831.23. This represents a 15.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Barry P. Flannelly sold 19,807 shares of the firm's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $67.69, for a total value of $1,340,735.83. Following the completion of the sale, the executive vice president now directly owns 33,567 shares in the company, valued at approximately $2,272,150.23. The trade was a 37.11 % 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 three months. Company insiders own 17.60% of the company's stock.

Analyst Upgrades and Downgrades

INCY has been the topic of several recent research reports. JMP Securities reaffirmed a "market perform" rating on shares of Incyte in a research report on Tuesday, February 11th. Cantor Fitzgerald reissued a "neutral" rating on shares of Incyte in a research report on Friday, January 10th. Wells Fargo & Company lifted their price objective 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. William Blair downgraded shares of Incyte from an "outperform" rating to a "market perform" rating in a report on Tuesday, March 18th. Finally, Citigroup dropped their price target on shares of Incyte from $97.00 to $88.00 and set a "buy" rating on the stock in a research report on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $74.88.

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.