APG Asset Management N.V. Grows Position in Incyte Co. (NASDAQ:INCY)

APG Asset Management N.V. increased its stake in Incyte Co. (NASDAQ:INCY - Free Report) by 78.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 262,574 shares of the biopharmaceutical company's stock after acquiring an additional 115,382 shares during the quarter. APG Asset Management N.V. owned 0.14% of Incyte worth $17,514,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Retirement Systems of Alabama increased its stake in Incyte by 0.4% in the fourth quarter. Retirement Systems of Alabama now owns 34,620 shares of the biopharmaceutical company's stock valued at $2,391,000 after purchasing an additional 139 shares in the last quarter. Trust Point Inc. increased its position in Incyte by 5.0% in the 4th 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 in the last quarter. Bank of Nova Scotia increased its position in Incyte by 0.8% in the 4th quarter. Bank of Nova Scotia now owns 21,694 shares of the biopharmaceutical company's stock valued at $1,498,000 after buying an additional 171 shares in the last quarter. Mather Group LLC. boosted its holdings in Incyte by 26.4% in the fourth quarter. Mather Group LLC. now owns 828 shares of the biopharmaceutical company's stock worth $57,000 after acquiring an additional 173 shares in the last quarter. Finally, 180 Wealth Advisors LLC grew its stake in Incyte by 3.9% in the fourth quarter. 180 Wealth Advisors LLC now owns 5,231 shares of the biopharmaceutical company's stock valued at $361,000 after acquiring an additional 195 shares during the period. Institutional investors and hedge funds own 96.97% of the company's stock.

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Insider Transactions at Incyte

In other news, EVP Sheila A. Denton sold 14,069 shares of the business's stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $74.07, for a total value of $1,042,090.83. Following the completion of the sale, the executive vice president now directly owns 25,848 shares in the company, valued at approximately $1,914,561.36. The trade was a 35.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Steven H. Stein sold 12,352 shares of the company's stock in a transaction 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 completion of the sale, the executive vice president now directly owns 66,967 shares of the company's stock, valued at $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 three months, insiders sold 46,827 shares of company stock worth $3,322,618. 17.60% of the stock is currently owned by corporate insiders.

Incyte Price Performance

Incyte stock traded down $0.39 during mid-day trading on Tuesday, hitting $58.83. 413,481 shares of the company traded hands, compared to its average volume of 2,372,314. 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 one year low of $50.35 and a one year high of $83.95. The stock has a market cap of $11.39 billion, a price-to-earnings ratio of 217.90, a price-to-earnings-growth ratio of 0.41 and a beta of 0.89. The stock has a fifty day moving average price of $65.87 and a 200-day moving average price of $69.58.

Incyte (NASDAQ:INCY - Get Free Report) 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%. On average, equities analysts predict that Incyte Co. will post 4.86 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on INCY shares. Royal Bank of Canada lowered their target price on Incyte from $70.00 to $68.00 and set a "sector perform" rating on the stock in a research report on Tuesday, February 11th. Cantor Fitzgerald reaffirmed a "neutral" rating on shares of Incyte in a research report on Friday, January 10th. JMP Securities restated a "market perform" rating on shares of Incyte in a research note 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 note on Monday, February 10th. Finally, Morgan Stanley decreased their price objective on Incyte from $69.00 to $65.00 and set an "equal weight" rating for the company in a report on Monday, March 24th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Incyte 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.