Incyte Co. (NASDAQ:INCY) Stock Holdings Reduced by Sector Gamma AS

Sector Gamma AS lessened its holdings in shares of Incyte Co. (NASDAQ:INCY - Free Report) by 23.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 197,400 shares of the biopharmaceutical company's stock after selling 61,600 shares during the period. Incyte comprises approximately 4.7% of Sector Gamma AS's investment portfolio, making the stock its 8th biggest position. Sector Gamma AS owned 0.10% of Incyte worth $13,634,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CWA Asset Management Group LLC acquired a new stake in Incyte in the fourth quarter valued at approximately $1,933,000. Orion Portfolio Solutions LLC purchased a new stake in shares of Incyte in the 3rd quarter valued at $770,000. Tri Ri Asset Management Corp acquired a new stake in shares of Incyte in the third quarter worth $3,292,000. Cypress Capital Group purchased a new position in shares of Incyte during the third quarter worth $971,000. Finally, Bridgewater Associates LP lifted its position in Incyte by 142.8% during the third quarter. Bridgewater Associates LP now owns 308,632 shares of the biopharmaceutical company's stock valued at $20,401,000 after purchasing an additional 181,504 shares during the period. Institutional investors own 96.97% of the company's stock.

Insiders Place Their Bets

In related news, EVP Barry P. Flannelly sold 19,807 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $67.69, for a total value of $1,340,735.83. Following the sale, the executive vice president now owns 33,567 shares of the company's stock, valued at $2,272,150.23. This trade represents a 37.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Steven H. Stein sold 12,352 shares of the firm's stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $72.69, for a total value of $897,866.88. Following the completion of the sale, the executive vice president now owns 66,967 shares in the company, valued at approximately $4,867,831.23. This represents a 15.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 46,827 shares of company stock worth $3,322,618 over the last 90 days. Corporate insiders own 17.60% of the company's stock.

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Incyte Trading Down 1.1 %

Shares of NASDAQ:INCY traded down $0.70 during midday trading on Tuesday, reaching $62.08. 2,603,519 shares of the company's stock were exchanged, compared to its average volume of 2,267,810. The firm's 50 day simple moving average is $70.22 and its two-hundred day simple moving average is $70.18. Incyte Co. has a fifty-two week low of $50.35 and a fifty-two week high of $83.95. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.94. The stock has a market cap of $12.01 billion, a price-to-earnings ratio of 229.93, a P/E/G ratio of 0.41 and a beta of 0.76.

Incyte (NASDAQ:INCY - Get Free Report) last released its quarterly earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.48). Incyte had a return on equity of 0.05% and a net margin of 0.77%. As a group, sell-side analysts forecast that Incyte Co. will post 4.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on INCY. StockNews.com cut shares of Incyte from a "strong-buy" rating to a "buy" rating in a report on Wednesday, February 12th. Royal Bank of Canada reduced their price objective on shares of Incyte from $70.00 to $68.00 and set a "sector perform" rating for the company in a research report on Tuesday, February 11th. JMP Securities reiterated a "market perform" rating on shares of Incyte in a research report on Tuesday, February 11th. Wells Fargo & Company upped their price target 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. Finally, William Blair lowered Incyte from an "outperform" rating to a "market perform" rating in a research note on Tuesday, March 18th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $74.88.

Incyte 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.