Cambiar Investors LLC Decreases Position in Incyte Co. (NASDAQ:INCY)

Cambiar Investors LLC trimmed its position in shares of Incyte Co. (NASDAQ:INCY - Free Report) by 11.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 139,652 shares of the biopharmaceutical company's stock after selling 17,651 shares during the quarter. Cambiar Investors LLC owned 0.07% of Incyte worth $9,646,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Truist Financial Corp acquired a new stake in Incyte in the 2nd quarter valued at about $1,122,000. CWM LLC raised its position in Incyte by 79.3% in the 3rd quarter. CWM LLC now owns 14,297 shares of the biopharmaceutical company's stock valued at $945,000 after purchasing an additional 6,325 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its position in Incyte by 102.3% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,562 shares of the biopharmaceutical company's stock valued at $103,000 after purchasing an additional 790 shares in the last quarter. Exchange Traded Concepts LLC raised its position in Incyte by 81.4% in the 3rd quarter. Exchange Traded Concepts LLC now owns 33,325 shares of the biopharmaceutical company's stock valued at $2,203,000 after purchasing an additional 14,953 shares in the last quarter. Finally, Creative Planning raised its position in Incyte by 6.2% in the 3rd quarter. Creative Planning now owns 22,366 shares of the biopharmaceutical company's stock valued at $1,478,000 after purchasing an additional 1,307 shares in the last quarter. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Incyte Stock Performance

Shares of INCY stock traded up $0.41 during midday trading on Friday, hitting $70.42. The company had a trading volume of 1,882,071 shares, compared to its average volume of 1,646,522. The company's 50 day simple moving average is $71.37 and its 200 day simple moving average is $69.17. Incyte Co. has a 52-week low of $50.35 and a 52-week high of $83.95. The stock has a market cap of $13.57 billion, a price-to-earnings ratio of 503.04, a PEG ratio of 0.53 and a beta of 0.70. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.87 and a quick ratio of 1.82.

Incyte (NASDAQ:INCY - Get Free Report) last announced its earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.48). Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. Research analysts anticipate that Incyte Co. will post 0.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Incyte

In related news, EVP Vijay K. Iyengar sold 6,043 shares of Incyte stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $75.38, for a total value of $455,521.34. Following the sale, the executive vice president now directly owns 30,658 shares in the company, valued at $2,311,000.04. The trade was a 16.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Thomas Tray sold 650 shares of Incyte stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $69.31, for a total value of $45,051.50. Following the completion of the sale, the insider now owns 23,312 shares in the company, valued at approximately $1,615,754.72. This trade represents a 2.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,695 shares of company stock worth $1,444,356. 17.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

INCY has been the topic of a number of analyst reports. William Blair reaffirmed an "outperform" rating on shares of Incyte in a research report on Friday, December 13th. Oppenheimer increased their price target on Incyte from $81.00 to $82.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. JMP Securities reissued a "market perform" rating on shares of Incyte in a research report on Tuesday. The Goldman Sachs Group raised their target price on Incyte from $63.00 to $70.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th. Finally, StockNews.com lowered Incyte from a "strong-buy" rating to a "buy" rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Incyte presently has an average rating of "Hold" and a consensus target price of $75.59.

Incyte Company 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.