Amalgamated Bank Trims Holdings in Incyte Co. (NASDAQ:INCY)

Amalgamated Bank lowered its holdings in Incyte Co. (NASDAQ:INCY - Free Report) by 16.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,585 shares of the biopharmaceutical company's stock after selling 6,433 shares during the period. Amalgamated Bank's holdings in Incyte were worth $2,088,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in INCY. SG Americas Securities LLC lifted its holdings in shares of Incyte by 16.7% during the first quarter. SG Americas Securities LLC now owns 44,119 shares of the biopharmaceutical company's stock worth $2,513,000 after buying an additional 6,328 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Incyte by 7.3% during the first quarter. Russell Investments Group Ltd. now owns 1,033,557 shares of the biopharmaceutical company's stock worth $58,901,000 after purchasing an additional 70,467 shares during the last quarter. Avantax Advisory Services Inc. acquired a new stake in shares of Incyte during the first quarter worth about $254,000. ProShare Advisors LLC boosted its stake in shares of Incyte by 14.4% during the first quarter. ProShare Advisors LLC now owns 63,086 shares of the biopharmaceutical company's stock worth $3,594,000 after buying an additional 7,925 shares during the period. Finally, Entropy Technologies LP acquired a new position in Incyte in the 1st quarter worth $327,000. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Incyte

In related news, EVP Jonathan Elliott Dickinson sold 8,450 shares of the company's stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $62.36, for a total value of $526,942.00. Following the completion of the sale, the executive vice president now owns 36,390 shares in the company, valued at approximately $2,269,280.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Jonathan Elliott Dickinson sold 8,450 shares of the business's stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $62.36, for a total value of $526,942.00. Following the transaction, the executive vice president now directly owns 36,390 shares of the company's stock, valued at approximately $2,269,280.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Thomas Tray sold 572 shares of the business's stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $62.94, for a total transaction of $36,001.68. Following the completion of the transaction, the insider now directly owns 24,825 shares in the company, valued at $1,562,485.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,702 shares of company stock valued at $856,166 in the last ninety days. 17.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on INCY shares. Morgan Stanley lifted their price objective on shares of Incyte from $64.00 to $69.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 30th. Cantor Fitzgerald reaffirmed a "neutral" rating on shares of Incyte in a research note on Monday, September 16th. StockNews.com raised shares of Incyte from a "buy" rating to a "strong-buy" rating in a research report on Thursday, October 31st. JMP Securities reaffirmed a "market perform" rating on shares of Incyte in a research note on Tuesday, September 17th. Finally, Royal Bank of Canada increased their target price on shares of Incyte from $67.00 to $72.00 and gave the stock a "sector perform" rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Incyte presently has an average rating of "Hold" and a consensus target price of $76.74.

Incyte Trading Down 1.2 %

INCY stock traded down $0.98 during mid-day trading on Tuesday, reaching $80.55. 1,003,255 shares of the stock traded hands, compared to its average volume of 2,336,599. Incyte Co. has a 52-week low of $50.35 and a 52-week high of $83.95. The company has a current ratio of 1.87, a quick ratio of 1.82 and a debt-to-equity ratio of 0.01. The stock's fifty day moving average is $67.79 and its 200-day moving average is $63.16. The company has a market cap of $15.52 billion, a P/E ratio of 582.40, a P/E/G ratio of 9.61 and a beta of 0.71.

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