CANADA LIFE ASSURANCE Co cut its stake in shares of Incyte Co. (NASDAQ:INCY - Free Report) by 26.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 130,778 shares of the biopharmaceutical company's stock after selling 46,536 shares during the quarter. CANADA LIFE ASSURANCE Co owned approximately 0.07% of Incyte worth $9,030,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Norges Bank acquired a new position in shares of Incyte during the fourth quarter valued at $121,890,000. Sound Shore Management Inc. CT lifted its holdings in Incyte by 98.4% in the 4th quarter. Sound Shore Management Inc. CT now owns 1,201,089 shares of the biopharmaceutical company's stock valued at $82,959,000 after acquiring an additional 595,741 shares during the last quarter. Pictet Asset Management Holding SA grew its position in Incyte by 73.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,313,873 shares of the biopharmaceutical company's stock worth $90,749,000 after buying an additional 556,218 shares during the last quarter. LSV Asset Management increased its holdings in shares of Incyte by 18.6% in the fourth quarter. LSV Asset Management now owns 3,467,490 shares of the biopharmaceutical company's stock valued at $239,500,000 after buying an additional 544,080 shares in the last quarter. Finally, Bridgewater Associates LP boosted its stake in shares of Incyte by 117.7% during the 4th quarter. Bridgewater Associates LP now owns 671,777 shares of the biopharmaceutical company's stock worth $46,400,000 after acquiring an additional 363,145 shares in the last quarter. 96.97% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on the stock. StockNews.com downgraded shares of Incyte from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, February 12th. Citigroup dropped their price target on shares of Incyte from $97.00 to $88.00 and set a "buy" rating on the stock in a research note on Tuesday, February 11th. JMP Securities reissued a "market perform" rating on shares of Incyte in a research note on Tuesday, February 11th. Stifel Nicolaus raised their price target on shares of Incyte from $75.00 to $77.00 and gave the company a "hold" rating in a report on Monday, February 10th. Finally, Royal Bank of Canada decreased 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. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Incyte presently has an average rating of "Hold" and an average price target of $74.69.
Check Out Our Latest Report on Incyte
Insider Buying and Selling at Incyte
In other news, EVP Barry P. Flannelly sold 19,807 shares of the business's stock in a transaction that occurred 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 of the company's stock, valued at $2,272,150.23. The trade was a 37.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Sheila A. Denton sold 599 shares of the firm's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $69.99, for a total value of $41,924.01. Following the sale, the executive vice president now directly owns 25,848 shares of the company's stock, valued at $1,809,101.52. This represents a 2.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,475 shares of company stock worth $2,424,751 over the last three months. Company insiders own 17.60% of the company's stock.
Incyte Stock Performance
INCY traded up $0.19 on Friday, hitting $59.16. 1,237,382 shares of the stock traded hands, compared to its average volume of 2,366,718. The firm has a market capitalization of $11.45 billion, a PE ratio of 219.12, a P/E/G ratio of 0.41 and a beta of 0.89. 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 52 week low of $50.35 and a 52 week high of $83.95. The business has a fifty day moving average price of $63.87 and a two-hundred day moving average price of $69.05.
Incyte (NASDAQ:INCY - Get Free Report) last announced 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%. On average, research analysts predict that Incyte Co. will post 4.86 EPS for the current fiscal year.
Incyte Company Profile
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Free Report)
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.
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