Applied Finance Capital Management LLC Sells 6,032 Shares of Incyte Co. (NASDAQ:INCY)

Applied Finance Capital Management LLC reduced its holdings in shares of Incyte Co. (NASDAQ:INCY - Free Report) by 1.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 465,655 shares of the biopharmaceutical company's stock after selling 6,032 shares during the quarter. Incyte comprises 1.4% of Applied Finance Capital Management LLC's investment portfolio, making the stock its 29th biggest position. Applied Finance Capital Management LLC owned about 0.24% of Incyte worth $32,163,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Public Sector Pension Investment Board increased its holdings in Incyte by 4.7% during the 3rd quarter. Public Sector Pension Investment Board now owns 6,622 shares of the biopharmaceutical company's stock worth $438,000 after acquiring an additional 300 shares during the period. EP Wealth Advisors LLC grew its position in shares of Incyte by 42.1% during the 3rd quarter. EP Wealth Advisors LLC now owns 5,628 shares of the biopharmaceutical company's stock valued at $372,000 after purchasing an additional 1,667 shares in the last quarter. National Bank of Canada FI raised its position in shares of Incyte by 86.1% in the third quarter. National Bank of Canada FI now owns 81,728 shares of the biopharmaceutical company's stock worth $5,402,000 after buying an additional 37,809 shares in the last quarter. Orion Portfolio Solutions LLC bought a new stake in Incyte during the third quarter valued at $770,000. Finally, MML Investors Services LLC grew its position in Incyte by 4.4% during the third quarter. MML Investors Services LLC now owns 6,063 shares of the biopharmaceutical company's stock worth $401,000 after buying an additional 256 shares in the last quarter. 96.97% of the stock is owned by institutional investors.

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Insider Activity

In related news, EVP Steven H. Stein sold 12,352 shares of the company's stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $72.69, for a total transaction of $897,866.88. Following the completion of the transaction, the executive vice president now owns 66,967 shares in the company, valued at $4,867,831.23. This represents a 15.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Sheila A. Denton sold 14,069 shares of Incyte stock in a transaction on 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 sale, the executive vice president now owns 25,848 shares in the company, valued at approximately $1,914,561.36. This trade represents a 35.25 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,827 shares of company stock valued at $3,322,618. Insiders own 17.60% of the company's stock.

Incyte Trading Up 3.1 %

INCY stock traded up $1.70 during midday trading on Friday, hitting $56.87. The company had a trading volume of 2,073,635 shares, compared to its average volume of 2,381,171. The stock has a market cap of $11.01 billion, a price-to-earnings ratio of 210.64, a PEG ratio of 0.41 and a beta of 0.89. Incyte Co. has a 52 week low of $50.35 and a 52 week high of $83.95. The company has a current ratio of 1.97, a quick ratio of 1.94 and a debt-to-equity ratio of 0.01. The stock's 50 day moving average price is $66.19 and its 200 day moving average price is $69.63.

Incyte (NASDAQ:INCY - Get Free Report) last posted its quarterly earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 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%. As a group, equities research analysts expect that Incyte Co. will post 4.86 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on INCY. Wells Fargo & Company lifted their price target 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 cut their price target on shares of Incyte from $74.00 to $72.00 and set a "hold" rating for the company in a research note on Tuesday, March 18th. Stifel Nicolaus raised their price objective 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. JMP Securities reiterated a "market perform" rating on shares of Incyte in a research report on Tuesday, February 11th. Finally, William Blair downgraded Incyte from an "outperform" rating to a "market perform" rating in a research report on Tuesday, March 18th. One investment 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. According to MarketBeat, the company currently 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.