Incyte Co. (NASDAQ:INCY) Shares Sold by American Century Companies Inc.

American Century Companies Inc. lessened its holdings in Incyte Co. (NASDAQ:INCY - Free Report) by 14.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 66,279 shares of the biopharmaceutical company's stock after selling 11,210 shares during the quarter. American Century Companies Inc.'s holdings in Incyte were worth $4,578,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Retirement Systems of Alabama boosted its stake in Incyte by 0.4% in the 4th quarter. Retirement Systems of Alabama now owns 34,620 shares of the biopharmaceutical company's stock worth $2,391,000 after purchasing an additional 139 shares in the last quarter. Trust Point Inc. grew its holdings in shares of Incyte by 5.0% during the fourth quarter. Trust Point Inc. now owns 3,282 shares of the biopharmaceutical company's stock valued at $227,000 after buying an additional 156 shares during the last quarter. Mather Group LLC. increased its position in shares of Incyte by 26.4% in the 4th quarter. Mather Group LLC. now owns 828 shares of the biopharmaceutical company's stock valued at $57,000 after acquiring an additional 173 shares during the period. 180 Wealth Advisors LLC raised its stake in Incyte by 3.9% in the 4th quarter. 180 Wealth Advisors LLC now owns 5,231 shares of the biopharmaceutical company's stock worth $361,000 after acquiring an additional 195 shares during the last quarter. Finally, Catalyst Financial Partners LLC raised its stake in Incyte by 2.7% in the 4th quarter. Catalyst Financial Partners LLC now owns 7,493 shares of the biopharmaceutical company's stock worth $518,000 after acquiring an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 96.97% of the company's stock.

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Incyte Trading Down 6.3 %

Shares of Incyte stock traded down $3.69 on Thursday, reaching $55.17. The company had a trading volume of 2,678,621 shares, compared to its average volume of 2,374,612. The firm's 50 day moving average price is $66.53 and its two-hundred day moving average price is $69.64. 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 Co. has a 52-week low of $50.35 and a 52-week high of $83.95. The firm has a market cap of $10.68 billion, a PE ratio of 204.34, a PEG ratio of 0.41 and a beta of 0.89.

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 net margin of 0.77% and a return on equity of 0.05%. Sell-side analysts predict that Incyte Co. will post 4.86 earnings per share for the current fiscal year.

Insider Activity at Incyte

In related news, EVP Sheila A. Denton sold 14,069 shares of Incyte stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $74.07, for a total value of $1,042,090.83. Following the completion of the transaction, the executive vice president now directly owns 25,848 shares in the company, valued at approximately $1,914,561.36. This trade represents a 35.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Barry P. Flannelly sold 19,807 shares of the company's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $67.69, for a total value of $1,340,735.83. Following the sale, the executive vice president now owns 33,567 shares in the company, valued at approximately $2,272,150.23. This trade represents a 37.11 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,827 shares of company stock worth $3,322,618. 17.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

INCY has been the subject of several research analyst reports. Wells Fargo & Company raised their price objective on Incyte from $68.00 to $70.00 and gave the stock an "equal weight" rating in a research note on Thursday, December 19th. William Blair lowered shares of Incyte from an "outperform" rating to a "market perform" rating in a research report on Tuesday, March 18th. Royal Bank of Canada dropped their price objective on shares of Incyte from $70.00 to $68.00 and set a "sector perform" rating on the stock in a report on Tuesday, February 11th. Stifel Nicolaus boosted their target price on shares of Incyte from $75.00 to $77.00 and gave the company a "hold" rating in a research report on Monday, February 10th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating on shares of Incyte in a research report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Incyte has an average 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.