Rhumbline Advisers Sells 12,695 Shares of Incyte Co. (NASDAQ:INCY)

Rhumbline Advisers trimmed its position in shares of Incyte Co. (NASDAQ:INCY - Free Report) by 4.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 306,206 shares of the biopharmaceutical company's stock after selling 12,695 shares during the quarter. Rhumbline Advisers owned 0.16% of Incyte worth $21,150,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Point72 Asset Management L.P. bought a new stake in Incyte in the 3rd quarter valued at $156,611,000. Mizuho Securities USA LLC increased its stake in Incyte by 13,814.7% in the 3rd 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. Charles Schwab Investment Management Inc. increased its stake in Incyte by 29.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,609,220 shares of the biopharmaceutical company's stock valued at $106,369,000 after buying an additional 364,169 shares during the last quarter. Bridgewater Associates LP increased its stake in Incyte by 142.8% in the 3rd quarter. Bridgewater Associates LP now owns 308,632 shares of the biopharmaceutical company's stock valued at $20,401,000 after buying an additional 181,504 shares during the last quarter. Finally, Point72 Europe London LLP acquired a new stake in Incyte in the 3rd quarter valued at $5,975,000. 96.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on INCY. JPMorgan Chase & Co. boosted their price objective on shares of Incyte from $65.00 to $71.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. StockNews.com downgraded shares of Incyte from a "strong-buy" rating to a "buy" rating in a report on Wednesday, February 12th. Morgan Stanley boosted their price objective on shares of Incyte from $64.00 to $69.00 and gave the company an "equal weight" rating in a report on Wednesday, October 30th. UBS Group started coverage on shares of Incyte in a report on Tuesday, December 17th. They issued a "neutral" rating and a $77.00 price objective for the company. Finally, William Blair reissued an "outperform" rating on shares of Incyte in a report on Friday, December 13th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, Incyte currently has an average rating of "Hold" and an average price target of $75.59.

Insider Activity at Incyte

In other news, insider Thomas Tray sold 650 shares of the firm's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $69.31, for a total transaction of $45,051.50. Following the completion of the transaction, the insider now owns 23,312 shares of the company's stock, valued at approximately $1,615,754.72. This trade represents a 2.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Vijay K. Iyengar sold 6,043 shares of the firm's stock in a transaction on Friday, November 29th. The shares were sold at an average price of $75.38, for a total transaction of $455,521.34. Following the transaction, the executive vice president now directly owns 30,658 shares of the company's stock, valued at $2,311,000.04. The trade was a 16.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,695 shares of company stock valued at $1,444,356 in the last quarter. Insiders own 17.60% of the company's stock.

Incyte Price Performance

NASDAQ:INCY traded up $0.67 on Friday, hitting $72.05. The company had a trading volume of 1,514,741 shares, compared to its average volume of 1,623,589. The stock has a market capitalization of $13.94 billion, a price-to-earnings ratio of 266.87, a PEG ratio of 0.40 and a beta of 0.70. The company has a current ratio of 1.97, a quick ratio of 1.94 and a debt-to-equity ratio of 0.01. The firm has a 50 day moving average of $71.17 and a two-hundred day moving average of $69.33. Incyte Co. has a 52 week low of $50.35 and a 52 week high of $83.95.

Incyte (NASDAQ:INCY - Get Free Report) last issued its quarterly earnings data 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 net margin of 0.77% and a return on equity of 0.05%. On average, research analysts anticipate that Incyte Co. will post 4.86 earnings per share for the current year.

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.