Applied Finance Capital Management LLC Reduces Stock Holdings in Incyte Co. (NASDAQ:INCY)

Applied Finance Capital Management LLC reduced its position in Incyte Co. (NASDAQ:INCY - Free Report) by 5.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 471,687 shares of the biopharmaceutical company's stock after selling 28,073 shares during the period. Applied Finance Capital Management LLC owned 0.24% of Incyte worth $31,179,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Empirical Finance LLC raised its position in shares of Incyte by 3.7% during the 1st quarter. Empirical Finance LLC now owns 6,395 shares of the biopharmaceutical company's stock valued at $364,000 after buying an additional 230 shares in the last quarter. SG Americas Securities LLC raised its position in Incyte by 16.7% during the first quarter. SG Americas Securities LLC now owns 44,119 shares of the biopharmaceutical company's stock valued at $2,513,000 after purchasing an additional 6,328 shares during the period. Forsta AP Fonden lifted its stake in shares of Incyte by 164.5% in the 1st quarter. Forsta AP Fonden now owns 82,000 shares of the biopharmaceutical company's stock valued at $4,672,000 after purchasing an additional 51,000 shares during the last quarter. Tectonic Advisors LLC purchased a new position in shares of Incyte in the 1st quarter worth approximately $617,000. Finally, Inspire Advisors LLC bought a new position in shares of Incyte during the 1st quarter valued at approximately $614,000. 96.97% of the stock is owned by institutional investors.

Insider Transactions at Incyte

In related news, EVP Barry P. Flannelly sold 3,680 shares of the firm's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $79.68, for a total transaction of $293,222.40. Following the sale, the executive vice president now owns 58,042 shares of the company's stock, valued at $4,624,786.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Barry P. Flannelly sold 3,680 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $79.68, for a total transaction of $293,222.40. Following the completion of the sale, the executive vice president now owns 58,042 shares of the company's stock, valued at $4,624,786.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Thomas Tray sold 572 shares of Incyte stock in a transaction on 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 represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 12,702 shares of company stock valued at $856,166. Corporate insiders own 17.60% of the company's stock.

Incyte Stock Up 1.3 %

Shares of NASDAQ:INCY traded up $1.04 during trading hours on Friday, hitting $83.38. The company's stock had a trading volume of 3,235,745 shares, compared to its average volume of 1,704,554. The firm's fifty day moving average price is $67.48 and its 200 day moving average price is $62.79. Incyte Co. has a 52 week low of $50.35 and a 52 week high of $83.95. The company has a market capitalization of $16.06 billion, a price-to-earnings ratio of 595.61, a P/E/G ratio of 9.33 and a beta of 0.71. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.87 and a quick ratio of 1.82.

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

Analysts Set New Price Targets

INCY has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised their price target on Incyte from $65.00 to $71.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th. Royal Bank of Canada raised 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. The Goldman Sachs Group upped their price target on shares of Incyte from $63.00 to $70.00 and gave the company a "neutral" rating in a report on Wednesday, October 30th. Guggenheim raised their price objective on shares of Incyte from $86.00 to $92.00 and gave the stock a "buy" rating in a research note on Monday, September 16th. Finally, StockNews.com upgraded Incyte from a "buy" rating to a "strong-buy" rating in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $76.74.

Incyte Company 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.