Vestcor Inc Has $174,000 Holdings in Incyte Co. (NASDAQ:INCY)

Vestcor Inc lowered its stake in shares of Incyte Co. (NASDAQ:INCY - Free Report) by 86.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,625 shares of the biopharmaceutical company's stock after selling 17,167 shares during the quarter. Vestcor Inc's holdings in Incyte were worth $174,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pacer Advisors Inc. grew its holdings in Incyte by 17,460.4% during the 2nd quarter. Pacer Advisors Inc. now owns 2,692,182 shares of the biopharmaceutical company's stock worth $163,200,000 after acquiring an additional 2,676,851 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in Incyte in the third quarter worth about $156,611,000. Mizuho Securities USA LLC increased its holdings in 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 buying an additional 1,985,726 shares during the last quarter. AQR Capital Management LLC raised its stake in Incyte by 70.5% during the second quarter. AQR Capital Management LLC now owns 2,661,758 shares of the biopharmaceutical company's stock valued at $159,905,000 after buying an additional 1,101,041 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in Incyte by 28.0% during the 2nd quarter. Acadian Asset Management LLC now owns 3,560,989 shares of the biopharmaceutical company's stock worth $215,833,000 after buying an additional 779,243 shares during the last quarter. Institutional investors own 96.97% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on INCY shares. William Blair reissued an "outperform" rating on shares of Incyte in a research report on Friday. Truist Financial reissued a "hold" rating and set a $74.00 target price (down from $83.00) on shares of Incyte in a report on Wednesday, September 18th. Royal Bank of Canada lifted their price target on shares of Incyte from $72.00 to $80.00 and gave the company a "sector perform" rating in a report on Thursday, November 14th. The Goldman Sachs Group increased their price objective on shares of Incyte from $63.00 to $70.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. Finally, Citigroup lifted their target price on Incyte from $92.00 to $97.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. One 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's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $76.18.

Incyte Price Performance

INCY stock traded down $2.28 during trading on Friday, hitting $68.55. The company had a trading volume of 1,769,106 shares, compared to its average volume of 2,337,169. The business has a 50 day moving average of $72.14 and a 200 day moving average of $66.24. The firm has a market capitalization of $13.21 billion, a price-to-earnings ratio of 489.64, a P/E/G ratio of 8.36 and a beta of 0.69. The company has a current ratio of 1.87, a quick ratio of 1.82 and a debt-to-equity ratio of 0.01. Incyte Co. has a fifty-two week low of $50.35 and a fifty-two week high of $83.95.

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

Insiders Place Their Bets

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 directly owns 58,042 shares of the company's stock, valued at $4,624,786.56. This represents a 5.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Vijay K. Iyengar sold 6,043 shares of Incyte stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $75.38, for a total transaction of $455,521.34. Following the completion of the transaction, the executive vice president now owns 30,658 shares in the company, valued at approximately $2,311,000.04. This trade represents a 16.47 % decrease in their position. The disclosure for this sale can be found here. 17.60% of the stock is currently owned by insiders.

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.