Capital Fund Management S.A. Sells 72,601 Shares of Incyte Co. (NASDAQ:INCY)

Capital Fund Management S.A. trimmed its position in shares of Incyte Co. (NASDAQ:INCY - Free Report) by 19.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 308,302 shares of the biopharmaceutical company's stock after selling 72,601 shares during the period. Capital Fund Management S.A. owned about 0.16% of Incyte worth $21,294,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Bessemer Group Inc. boosted its stake in shares of Incyte by 1.5% in the fourth quarter. Bessemer Group Inc. now owns 49,091 shares of the biopharmaceutical company's stock worth $3,389,000 after acquiring an additional 733 shares during the period. APG Asset Management US Inc. acquired a new stake in shares of Incyte during the fourth quarter worth $234,000. Raymond James Financial Inc. acquired a new position in Incyte during the fourth quarter valued at $3,623,000. APG Asset Management N.V. grew its position in shares of Incyte by 78.4% during the 4th quarter. APG Asset Management N.V. now owns 262,574 shares of the biopharmaceutical company's stock valued at $17,514,000 after acquiring an additional 115,382 shares during the period. Finally, Advisory Services Network LLC increased its stake in Incyte by 11.2% during the 4th quarter. Advisory Services Network LLC now owns 44,385 shares of the biopharmaceutical company's stock worth $3,066,000 after buying an additional 4,460 shares in the last quarter. 96.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on INCY. Wells Fargo & Company lifted their price objective on Incyte from $68.00 to $70.00 and gave the company an "equal weight" rating in a research note on Thursday, December 19th. Royal Bank of Canada cut their price target on shares of Incyte from $70.00 to $68.00 and set a "sector perform" rating for the company in a report on Tuesday, February 11th. Cantor Fitzgerald restated a "neutral" rating on shares of Incyte in a report on Friday, January 10th. Stifel Nicolaus upped their target price on shares of Incyte from $75.00 to $77.00 and gave the company a "hold" rating in a report on Monday, February 10th. Finally, Truist Financial dropped their price objective on Incyte from $74.00 to $72.00 and set a "hold" rating for the company in a report on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, Incyte currently has a consensus rating of "Hold" and a consensus price target of $74.88.

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Insider Activity

In related news, EVP Sheila A. Denton sold 14,069 shares of the 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 transaction, the executive vice president now owns 25,848 shares of the company's stock, valued at approximately $1,914,561.36. This trade represents a 35.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Barry P. Flannelly sold 19,807 shares of the business's stock in a transaction dated 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 owns 33,567 shares in the company, valued at approximately $2,272,150.23. This represents a 37.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 46,827 shares of company stock valued at $3,322,618 in the last three months. Company insiders own 17.60% of the company's stock.

Incyte Trading Down 0.2 %

Shares of Incyte stock traded down $0.09 on Wednesday, hitting $58.37. The stock had a trading volume of 281,722 shares, compared to its average volume of 2,371,383. The firm has a market capitalization of $11.30 billion, a P/E ratio of 216.19, a PEG ratio of 0.41 and a beta of 0.89. Incyte Co. has a twelve month low of $50.35 and a twelve month high of $83.95. The stock has a 50 day moving average of $65.54 and a 200 day moving average of $69.50. 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 posted its quarterly 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 0.77% and a return on equity of 0.05%. Sell-side analysts expect that Incyte Co. will post 4.86 earnings per share for the current fiscal year.

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.