Continuum Advisory LLC Cuts Stock Position in Incyte Co. (NASDAQ:INCY)

Continuum Advisory LLC decreased its position in Incyte Co. (NASDAQ:INCY - Free Report) by 98.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 580 shares of the biopharmaceutical company's stock after selling 53,510 shares during the quarter. Continuum Advisory LLC's holdings in Incyte were worth $38,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Acadian Asset Management LLC lifted its stake in Incyte by 28.0% in the second quarter. Acadian Asset Management LLC now owns 3,560,989 shares of the biopharmaceutical company's stock worth $215,833,000 after acquiring an additional 779,243 shares during the period. LSV Asset Management lifted its position in shares of Incyte by 0.5% in the 2nd quarter. LSV Asset Management now owns 2,769,892 shares of the biopharmaceutical company's stock worth $167,911,000 after purchasing an additional 15,115 shares during the period. Pacer Advisors Inc. boosted its stake in shares of Incyte by 17,460.4% during the 2nd quarter. Pacer Advisors Inc. now owns 2,692,182 shares of the biopharmaceutical company's stock valued at $163,200,000 after purchasing an additional 2,676,851 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Incyte by 70.5% during the second quarter. AQR Capital Management LLC now owns 2,661,758 shares of the biopharmaceutical company's stock valued at $159,905,000 after buying an additional 1,101,041 shares during the period. Finally, Point72 Asset Management L.P. bought a new position in Incyte in the third quarter worth about $156,611,000. 96.97% of the stock is owned by institutional investors.

Insider Transactions at Incyte

In other Incyte news, EVP Barry P. Flannelly sold 3,680 shares of the company's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $79.68, for a total value of $293,222.40. Following the completion of the sale, the executive vice president now owns 58,042 shares in the company, valued at $4,624,786.56. This represents a 5.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Vijay K. Iyengar sold 6,043 shares of Incyte stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $75.38, for a total value of $455,521.34. Following the transaction, the executive vice president now directly owns 30,658 shares in the company, valued at approximately $2,311,000.04. The trade was a 16.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 17.60% of the company's stock.

Analyst Ratings Changes

INCY has been the topic of several research reports. Wolfe Research assumed coverage on Incyte in a research report on Tuesday, October 1st. They set an "outperform" rating and a $84.00 price objective on the stock. Citigroup upped their price target on Incyte from $92.00 to $97.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. William Blair reissued an "outperform" rating on shares of Incyte in a research report on Friday. Wells Fargo & Company upped their target price on shares of Incyte from $62.00 to $68.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group increased their price target on shares of Incyte from $63.00 to $70.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Incyte presently has a consensus rating of "Hold" and an average target price of $77.16.

Incyte Stock Performance

INCY traded down $2.28 during midday trading on Friday, hitting $68.55. 1,714,711 shares of the company traded hands, compared to its average volume of 2,337,169. The company's 50-day moving average is $72.12 and its 200 day moving average is $66.10. The company has a quick ratio of 1.82, a current ratio of 1.87 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $13.21 billion, a PE ratio of 489.64, a price-to-earnings-growth ratio of 8.36 and a beta of 0.69. Incyte Co. has a 52 week low of $50.35 and a 52 week high of $83.95.

Incyte (NASDAQ:INCY - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share for the quarter, missing analysts' consensus estimates of $1.19 by ($0.12). Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter last year, the company earned $0.91 EPS. The firm's revenue for the quarter was up 23.8% on a year-over-year basis. On average, research analysts expect that Incyte Co. will post 0.4 EPS for the current 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.