Compass Ion Advisors LLC Has $960,000 Position in Incyte Co. (NASDAQ:INCY)

Compass Ion Advisors LLC lifted its stake in shares of Incyte Co. (NASDAQ:INCY - Free Report) by 293.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,894 shares of the biopharmaceutical company's stock after purchasing an additional 10,363 shares during the quarter. Compass Ion Advisors LLC's holdings in Incyte were worth $960,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Point72 Asset Management L.P. acquired a new position in Incyte during the third quarter worth about $156,611,000. Charles Schwab Investment Management Inc. increased its stake in Incyte by 2.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,643,067 shares of the biopharmaceutical company's stock worth $113,487,000 after purchasing an additional 33,847 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Incyte by 7.5% in the 4th quarter. Bank of New York Mellon Corp now owns 1,127,515 shares of the biopharmaceutical company's stock worth $77,877,000 after purchasing an additional 78,827 shares in the last quarter. Candriam S.C.A. increased its stake in Incyte by 27.8% in the 4th quarter. Candriam S.C.A. now owns 1,034,652 shares of the biopharmaceutical company's stock worth $71,463,000 after purchasing an additional 224,919 shares in the last quarter. Finally, Barclays PLC increased its stake in Incyte by 8.1% in the 3rd quarter. Barclays PLC now owns 1,031,932 shares of the biopharmaceutical company's stock worth $68,208,000 after purchasing an additional 77,542 shares in the last quarter. 96.97% of the stock is currently owned by institutional investors.

Remove Ads

Incyte Stock Performance

Shares of INCY traded up $1.34 on Friday, reaching $61.92. 4,332,207 shares of the stock traded hands, compared to its average volume of 2,264,889. The firm has a market cap of $11.98 billion, a price-to-earnings ratio of 229.34, a P/E/G ratio of 0.41 and a beta of 0.76. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.94. Incyte Co. has a 12 month low of $50.35 and a 12 month high of $83.95. The stock's 50-day moving average price is $70.61 and its 200-day moving average price is $70.13.

Incyte (NASDAQ:INCY - Get Free Report) last released 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 net margin of 0.77% and a return on equity of 0.05%. Equities analysts forecast that Incyte Co. will post 4.86 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on INCY. JMP Securities reissued a "market perform" rating on shares of Incyte in a research note on Tuesday, February 11th. StockNews.com cut Incyte from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, February 12th. UBS Group initiated coverage on Incyte in a research note on Tuesday, December 17th. They set a "neutral" rating and a $77.00 target price on the stock. Citigroup lowered their target price on Incyte from $97.00 to $88.00 and set a "buy" rating on the stock in a research note on Tuesday, February 11th. Finally, Cantor Fitzgerald reiterated a "neutral" rating on shares of Incyte in a report on Friday, January 10th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, Incyte currently has an average rating of "Hold" and an average target price of $75.13.

Insider Activity

In other Incyte news, EVP Barry P. Flannelly sold 19,807 shares of the company's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $67.69, for a total value of $1,340,735.83. Following the sale, the executive vice president now directly owns 33,567 shares in the company, valued at $2,272,150.23. This 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 at 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 value of $897,866.88. Following the completion of the sale, the executive vice president now owns 66,967 shares in the company, valued at $4,867,831.23. This trade represents a 15.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 46,827 shares of company stock worth $3,322,618. Company insiders own 17.60% of the company's stock.

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.