Bryce Point Capital LLC Buys Shares of 7,384 Incyte Co. (NASDAQ:INCY)

Bryce Point Capital LLC bought a new position in Incyte Co. (NASDAQ:INCY - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 7,384 shares of the biopharmaceutical company's stock, valued at approximately $510,000.

Other hedge funds have also added to or reduced their stakes in the company. Retirement Systems of Alabama raised its position in shares of Incyte by 0.4% during the fourth 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 during the period. Trust Point Inc. increased its position 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 worth $227,000 after acquiring an additional 156 shares in the last quarter. Mather Group LLC. raised its holdings in shares of Incyte by 26.4% during 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 during the period. 180 Wealth Advisors LLC lifted its position in Incyte by 3.9% in the 4th 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 in the last quarter. Finally, Catalyst Financial Partners LLC boosted 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 purchasing an additional 200 shares during the period. Institutional investors and hedge funds own 96.97% of the company's stock.

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Insider Activity

In related news, EVP Barry P. Flannelly sold 19,807 shares of Incyte stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 33,567 shares of the company's stock, valued at $2,272,150.23. This trade represents a 37.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Sheila A. Denton sold 14,069 shares of the company's 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 sale, the executive vice president now owns 25,848 shares of the company's stock, valued at $1,914,561.36. The trade was a 35.25 % decrease in their ownership of the stock. 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 company insiders.

Incyte Stock Performance

Shares of INCY stock traded up $1.89 on Wednesday, hitting $58.86. The company's stock had a trading volume of 4,023,898 shares, compared to its average volume of 2,368,134. Incyte Co. has a fifty-two week low of $50.35 and a fifty-two week high of $83.95. The company has a market capitalization of $11.39 billion, a PE ratio of 218.01, a PEG ratio of 0.41 and a beta of 0.89. The stock's 50 day moving average is $66.90 and its 200-day moving average is $69.70. 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 (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 expect that Incyte Co. will post 4.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

INCY has been the topic of a number of research reports. Morgan Stanley cut their price target on Incyte from $69.00 to $65.00 and set an "equal weight" rating on the stock in a report on Monday, March 24th. StockNews.com downgraded Incyte from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, February 12th. Truist Financial decreased their price target on Incyte from $74.00 to $72.00 and set a "hold" rating for the company in a research note on Tuesday, March 18th. Wells Fargo & Company increased their price objective on Incyte from $68.00 to $70.00 and gave the company an "equal weight" rating in a report on Thursday, December 19th. 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 assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target 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.