Grantham Mayo Van Otterloo & Co. LLC Cuts Stake in Incyte Co. (NASDAQ:INCY)

Grantham Mayo Van Otterloo & Co. LLC trimmed its holdings in Incyte Co. (NASDAQ:INCY - Free Report) by 21.6% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 455,699 shares of the biopharmaceutical company's stock after selling 125,360 shares during the period. Grantham Mayo Van Otterloo & Co. LLC owned approximately 0.24% of Incyte worth $31,475,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Retirement Systems of Alabama grew its stake in Incyte by 0.4% during the 4th quarter. Retirement Systems of Alabama now owns 34,620 shares of the biopharmaceutical company's stock worth $2,391,000 after buying an additional 139 shares during the last quarter. Trust Point Inc. boosted its holdings in shares of Incyte by 5.0% in the fourth quarter. Trust Point Inc. now owns 3,282 shares of the biopharmaceutical company's stock valued at $227,000 after acquiring an additional 156 shares during the period. Mather Group LLC. grew its position in shares of Incyte by 26.4% during the fourth quarter. Mather Group LLC. now owns 828 shares of the biopharmaceutical company's stock worth $57,000 after acquiring an additional 173 shares during the last quarter. 180 Wealth Advisors LLC increased its holdings in shares of Incyte by 3.9% in the 4th quarter. 180 Wealth Advisors LLC now owns 5,231 shares of the biopharmaceutical company's stock valued at $361,000 after acquiring an additional 195 shares during the period. Finally, Catalyst Financial Partners LLC raised its position in Incyte by 2.7% in the 4th quarter. Catalyst Financial Partners LLC now owns 7,493 shares of the biopharmaceutical company's stock valued at $518,000 after purchasing an additional 200 shares during the last quarter. 96.97% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on INCY shares. Cantor Fitzgerald reissued a "neutral" rating on shares of Incyte in a report on Friday, January 10th. Truist Financial lowered their target price on Incyte from $74.00 to $72.00 and set a "hold" rating on the stock in a research note on Tuesday, March 18th. Royal Bank of Canada cut their price target on Incyte from $70.00 to $68.00 and set a "sector perform" rating for the company in a research note on Tuesday, February 11th. Wells Fargo & Company lifted their price objective on shares of Incyte from $68.00 to $70.00 and gave the company an "equal weight" rating in a research report on Thursday, December 19th. Finally, Citigroup cut their price objective on shares of Incyte from $97.00 to $88.00 and set a "buy" rating for the company in a research report on Tuesday, February 11th. One 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $74.88.

Insider Activity at Incyte

In other Incyte news, EVP Sheila A. Denton sold 14,069 shares of Incyte stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $74.07, for a total value of $1,042,090.83. Following the completion of the sale, the executive vice president now directly owns 25,848 shares of the company's stock, valued at approximately $1,914,561.36. The trade was a 35.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Barry P. Flannelly sold 19,807 shares of the 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 transaction, 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. In the last quarter, insiders sold 46,827 shares of company stock valued at $3,322,618. 17.60% of the stock is owned by insiders.

Incyte Price Performance

Shares of NASDAQ:INCY traded up $0.69 during trading on Friday, hitting $55.86. 431,344 shares of the stock were exchanged, compared to its average volume of 2,366,989. Incyte Co. has a 12-month low of $50.35 and a 12-month high of $83.95. The company has a market cap of $10.81 billion, a PE ratio of 206.32, a P/E/G ratio of 0.41 and a beta of 0.89. The company has a fifty day moving average price of $66.53 and a two-hundred day moving average price of $69.64. The company has a current ratio of 1.97, a quick ratio of 1.94 and a debt-to-equity ratio of 0.01.

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

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.