Delphi Management Inc. MA Grows Stake in Incyte Co. (NASDAQ:INCY)

Delphi Management Inc. MA grew its stake in Incyte Co. (NASDAQ:INCY - Free Report) by 631.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,783 shares of the biopharmaceutical company's stock after acquiring an additional 7,583 shares during the period. Delphi Management Inc. MA's holdings in Incyte were worth $607,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of INCY. GSA Capital Partners LLP lifted its holdings in Incyte by 26.5% during the 3rd quarter. GSA Capital Partners LLP now owns 6,453 shares of the biopharmaceutical company's stock valued at $427,000 after purchasing an additional 1,351 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in Incyte by 2.9% in the 3rd quarter. CIBC Asset Management Inc now owns 25,303 shares of the biopharmaceutical company's stock valued at $1,673,000 after purchasing an additional 723 shares during the period. Swiss National Bank grew its position in shares of Incyte by 0.9% during the 3rd quarter. Swiss National Bank now owns 483,274 shares of the biopharmaceutical company's stock worth $31,944,000 after purchasing an additional 4,500 shares in the last quarter. TrinityPoint Wealth LLC increased its holdings in shares of Incyte by 3.4% during the third quarter. TrinityPoint Wealth LLC now owns 20,638 shares of the biopharmaceutical company's stock worth $1,364,000 after purchasing an additional 679 shares during the period. Finally, Meeder Asset Management Inc. bought a new stake in shares of Incyte in the third quarter valued at approximately $186,000. Institutional investors and hedge funds own 96.97% of the company's stock.

Remove Ads

Insiders Place Their Bets

In related news, EVP Sheila A. Denton sold 14,069 shares of the business's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $74.07, for a total transaction of $1,042,090.83. Following the transaction, the executive vice president now directly owns 25,848 shares in the company, valued at approximately $1,914,561.36. The trade was a 35.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Barry P. Flannelly sold 19,807 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $67.69, for a total transaction of $1,340,735.83. Following the completion of the sale, the executive vice president now owns 33,567 shares of the company's stock, valued at approximately $2,272,150.23. This trade represents a 37.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 46,827 shares of company stock valued at $3,322,618 in the last three months. 17.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on INCY. Stifel Nicolaus lifted their price objective on Incyte from $75.00 to $77.00 and gave the company a "hold" rating in a report on Monday, February 10th. Wells Fargo & Company upped their price objective on shares of Incyte from $68.00 to $70.00 and gave the stock an "equal weight" rating in a research report on Thursday, December 19th. Truist Financial decreased their target price on shares of Incyte from $74.00 to $72.00 and set a "hold" rating on the stock in a report on Tuesday. JMP Securities reaffirmed a "market perform" rating on shares of Incyte in a report on Tuesday, February 11th. Finally, UBS Group assumed coverage on shares of Incyte in a research note on Tuesday, December 17th. They issued a "neutral" rating and a $77.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Incyte has an average rating of "Hold" and an average target price of $75.13.

Incyte Stock Up 2.2 %

Shares of INCY traded up $1.34 on Friday, reaching $61.92. The company's stock had a trading volume of 4,332,207 shares, compared to its average volume of 1,783,435. The stock has a market capitalization of $11.98 billion, a PE ratio of 229.34, a PEG ratio of 0.41 and a beta of 0.76. 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 Co. has a twelve month low of $50.35 and a twelve month high of $83.95. The firm has a fifty day moving average of $70.78 and a 200-day moving average of $70.13.

Incyte (NASDAQ:INCY - Get Free Report) last posted its earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share 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 predict that Incyte Co. will post 4.86 EPS for the current year.

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.