Russell Investments Group Ltd. Has $35.26 Million Holdings in Incyte Co. (NASDAQ:INCY)

Russell Investments Group Ltd. cut its holdings in shares of Incyte Co. (NASDAQ:INCY - Free Report) by 1.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 511,387 shares of the biopharmaceutical company's stock after selling 9,867 shares during the period. Russell Investments Group Ltd. owned approximately 0.27% of Incyte worth $35,257,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quintet Private Bank Europe S.A. acquired a new stake in shares of Incyte in the 4th quarter worth approximately $26,000. Global X Japan Co. Ltd. lifted its position in Incyte by 144.7% in the fourth quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company's stock worth $27,000 after purchasing an additional 230 shares during the period. R Squared Ltd acquired a new stake in Incyte in the fourth quarter worth approximately $30,000. Groupama Asset Managment boosted its stake in Incyte by 11.4% during the 3rd quarter. Groupama Asset Managment now owns 59,597 shares of the biopharmaceutical company's stock valued at $39,000 after purchasing an additional 6,105 shares in the last quarter. Finally, Blue Trust Inc. increased its position in shares of Incyte by 124.6% during the 4th quarter. Blue Trust Inc. now owns 593 shares of the biopharmaceutical company's stock valued at $39,000 after purchasing an additional 329 shares during the period. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Incyte Stock Up 3.1 %

Shares of NASDAQ:INCY traded up $1.70 during trading on Friday, reaching $56.87. 2,073,635 shares of the company traded hands, compared to its average volume of 2,381,171. Incyte Co. has a 1-year low of $50.35 and a 1-year high of $83.95. The company has a quick ratio of 1.94, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. The firm has a market cap of $11.01 billion, a P/E ratio of 210.64, a price-to-earnings-growth ratio of 0.41 and a beta of 0.89. The firm has a fifty day simple moving average of $66.19 and a 200 day simple moving average of $69.63.

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Incyte (NASDAQ:INCY - Get Free Report) last issued its earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 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%. Analysts anticipate that Incyte Co. will post 4.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Steven H. Stein sold 12,352 shares of the company'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 directly 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Sheila A. Denton sold 14,069 shares of the firm's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $74.07, for a total value of $1,042,090.83. Following the transaction, the executive vice president now owns 25,848 shares in the company, valued at approximately $1,914,561.36. This trade represents a 35.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,827 shares of company stock worth $3,322,618. Insiders own 17.60% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on INCY shares. Guggenheim cut Incyte from a "buy" rating to a "neutral" rating and set a $92.00 target price for the company. in a research note on Tuesday, March 18th. JMP Securities restated a "market perform" rating on shares of Incyte in a research report on Tuesday, February 11th. StockNews.com downgraded shares of Incyte from a "strong-buy" rating to a "buy" rating in a report on Wednesday, February 12th. Wells Fargo & Company raised their target price on shares of Incyte from $68.00 to $70.00 and gave the stock an "equal weight" rating in a report on Thursday, December 19th. Finally, Stifel Nicolaus lifted their price target 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. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $74.88.

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.