42,000 Shares in Incyte Co. (NASDAQ:INCY) Acquired by Hussman Strategic Advisors Inc.

Hussman Strategic Advisors Inc. bought a new position in shares of Incyte Co. (NASDAQ:INCY - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 42,000 shares of the biopharmaceutical company's stock, valued at approximately $2,901,000. Incyte comprises approximately 0.9% of Hussman Strategic Advisors Inc.'s holdings, making the stock its 23rd biggest holding.

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 in the 3rd quarter valued at $156,611,000. Mizuho Securities USA LLC grew its stake in shares of Incyte by 13,814.7% in the third quarter. Mizuho Securities USA LLC now owns 2,000,100 shares of the biopharmaceutical company's stock valued at $132,207,000 after acquiring an additional 1,985,726 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Incyte by 29.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,609,220 shares of the biopharmaceutical company's stock worth $106,369,000 after acquiring an additional 364,169 shares during the period. Robeco Institutional Asset Management B.V. raised its stake in Incyte by 5.9% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,265,966 shares of the biopharmaceutical company's stock worth $83,680,000 after purchasing an additional 70,596 shares in the last quarter. Finally, Barclays PLC boosted its holdings in Incyte by 8.1% in the 3rd quarter. Barclays PLC now owns 1,031,932 shares of the biopharmaceutical company's stock valued at $68,208,000 after purchasing an additional 77,542 shares during the period. Institutional investors own 96.97% of the company's stock.

Insider Activity

In related news, EVP Steven H. Stein sold 12,352 shares of the stock in a transaction on 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Thomas Tray sold 650 shares of Incyte stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $70.64, for a total value of $45,916.00. Following the transaction, the insider now directly owns 23,962 shares in the company, valued at $1,692,675.68. The trade was a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,695 shares of company stock valued at $1,444,356. Insiders own 17.60% of the company's stock.

Incyte Price Performance

INCY traded up $0.67 on Friday, reaching $72.05. The stock had a trading volume of 1,514,741 shares, compared to its average volume of 1,623,589. The firm has a 50-day moving average of $71.17 and a 200-day moving average of $69.33. Incyte Co. has a fifty-two week low of $50.35 and a fifty-two week high of $83.95. The company has a market capitalization of $13.94 billion, a price-to-earnings ratio of 266.87, a price-to-earnings-growth ratio of 0.40 and a beta of 0.70. 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 issued 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%. As a group, sell-side analysts anticipate that Incyte Co. will post 4.86 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Citigroup lowered their target price on shares of Incyte from $97.00 to $88.00 and set a "buy" rating on the stock in a report on Tuesday, February 11th. Cantor Fitzgerald restated a "neutral" rating on shares of Incyte in a research report on Friday, January 10th. The Goldman Sachs Group upped their price objective on shares of Incyte from $63.00 to $70.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th. Oppenheimer raised their target price on shares of Incyte from $81.00 to $82.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Incyte in a report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $75.59.

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.