Elo Mutual Pension Insurance Co Has $1.35 Million Stake in Incyte Co. (NASDAQ:INCY)

Elo Mutual Pension Insurance Co increased its stake in shares of Incyte Co. (NASDAQ:INCY - Free Report) by 34.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,501 shares of the biopharmaceutical company's stock after buying an additional 5,039 shares during the quarter. Elo Mutual Pension Insurance Co's holdings in Incyte were worth $1,347,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Quintet Private Bank Europe S.A. acquired a new position in Incyte in the fourth quarter valued at about $26,000. Global X Japan Co. Ltd. raised its stake in shares of Incyte by 144.7% in the fourth quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company's stock valued at $27,000 after acquiring an additional 230 shares during the last quarter. Brooklyn Investment Group acquired a new position in shares of Incyte in the 3rd quarter worth approximately $30,000. R Squared Ltd bought a new stake in Incyte during the 4th quarter worth approximately $30,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Incyte during the 3rd quarter valued at $33,000. Institutional investors own 96.97% of the company's stock.

Incyte Trading Down 3.0 %

Shares of Incyte stock traded down $1.88 during trading on Friday, reaching $60.58. 3,670,885 shares of the company were exchanged, compared to its average volume of 2,348,296. Incyte Co. has a twelve month low of $50.35 and a twelve month high of $83.95. The business has a 50-day moving average price of $68.41 and a 200-day moving average price of $69.95. The company has a quick ratio of 1.94, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $11.72 billion, a price-to-earnings ratio of 224.38, a P/E/G ratio of 0.41 and a beta of 0.89.

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Incyte (NASDAQ:INCY - Get Free Report) last announced its quarterly earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 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%. Sell-side analysts anticipate that Incyte Co. will post 4.86 EPS for the current fiscal year.

Insider Buying and Selling at Incyte

In other Incyte news, EVP Steven H. Stein sold 12,352 shares of the stock in a transaction dated Tuesday, January 21st. The stock was 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 directly owns 66,967 shares in the company, valued at $4,867,831.23. This represents a 15.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Barry P. Flannelly sold 19,807 shares of the firm's stock in a transaction dated 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 approximately $2,272,150.23. This represents a 37.11 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,827 shares of company stock valued at $3,322,618. Corporate insiders own 17.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on INCY shares. Wells Fargo & Company boosted their price objective on Incyte from $68.00 to $70.00 and gave the stock an "equal weight" rating in a research note on Thursday, December 19th. Royal Bank of Canada reduced their price target on shares of Incyte from $70.00 to $68.00 and set a "sector perform" rating on the stock in a research report on Tuesday, February 11th. William Blair downgraded shares of Incyte from an "outperform" rating to a "market perform" rating in a research note on Tuesday, March 18th. JMP Securities reissued a "market perform" rating on shares of Incyte in a research note on Tuesday, February 11th. Finally, Cantor Fitzgerald reissued 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 given a hold rating and six have given a buy rating to the company. According to MarketBeat, Incyte has an average rating of "Hold" and a consensus price target of $74.88.

Incyte 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.