Marshall Wace LLP Has $40.46 Million Stock Holdings in Incyte Co. (NASDAQ:INCY)

Marshall Wace LLP trimmed its position in shares of Incyte Co. (NASDAQ:INCY - Free Report) by 54.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 585,718 shares of the biopharmaceutical company's stock after selling 692,592 shares during the quarter. Marshall Wace LLP owned approximately 0.30% of Incyte worth $40,456,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in INCY. Norges Bank acquired a new position in shares of Incyte during the 4th quarter worth approximately $121,890,000. Sound Shore Management Inc. CT grew its holdings in shares of Incyte by 98.4% during the fourth quarter. Sound Shore Management Inc. CT now owns 1,201,089 shares of the biopharmaceutical company's stock worth $82,959,000 after buying an additional 595,741 shares in the last quarter. Pictet Asset Management Holding SA raised its position in shares of 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 valued at $90,749,000 after buying an additional 556,218 shares during the last quarter. LSV Asset Management grew its stake in Incyte by 18.6% in the 4th quarter. LSV Asset Management now owns 3,467,490 shares of the biopharmaceutical company's stock worth $239,500,000 after acquiring an additional 544,080 shares during the period. Finally, Bridgewater Associates LP lifted 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 purchasing an additional 363,145 shares during the period. Hedge funds and other institutional investors own 96.97% of the company's stock.

Incyte Stock Performance

Shares of Incyte stock traded up $0.48 on Friday, reaching $58.21. The stock had a trading volume of 1,172,156 shares, compared to its average volume of 2,377,197. Incyte Co. has a fifty-two week low of $50.35 and a fifty-two week high of $83.95. The business's 50-day moving average price is $64.84 and its two-hundred day moving average price is $69.33. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.94 and a current ratio of 1.97. The stock has a market cap of $11.27 billion, a P/E ratio of 215.60, a price-to-earnings-growth ratio of 0.41 and a beta of 0.89.

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on INCY. Morgan Stanley reduced their target price on Incyte from $69.00 to $65.00 and set an "equal weight" rating on the stock in a research report on Monday, March 24th. JMP Securities reaffirmed a "market perform" rating on shares of Incyte in a research report on Tuesday, February 11th. William Blair lowered Incyte from an "outperform" rating to a "market perform" rating in a research note on Tuesday, March 18th. Stifel Nicolaus increased their price objective on shares of Incyte from $75.00 to $77.00 and gave the stock a "hold" rating in a research report on Monday, February 10th. Finally, Guggenheim lowered Incyte from a "buy" rating to a "neutral" rating and set a $92.00 price objective on the stock. in a research report on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $74.88.

Insider Buying and Selling at Incyte

In other Incyte news, EVP Sheila A. Denton sold 14,069 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $74.07, for a total transaction of $1,042,090.83. Following the sale, the executive vice president now owns 25,848 shares of the company's stock, valued at $1,914,561.36. This represents a 35.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Steven H. Stein sold 12,352 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $72.69, for a total transaction of $897,866.88. Following the sale, the executive vice president now directly owns 66,967 shares in the company, valued at $4,867,831.23. This trade represents a 15.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 46,827 shares of company stock valued at $3,322,618. 17.60% of the stock is currently owned by company insiders.

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.