Incyte Co. (NASDAQ:INCY) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. cut its position in shares of Incyte Co. (NASDAQ:INCY - Free Report) by 7.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 447,342 shares of the biopharmaceutical company's stock after selling 36,357 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.23% of Incyte worth $30,898,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of INCY. Point72 Asset Management L.P. acquired a new position in Incyte in the third quarter valued at about $156,611,000. Mizuho Securities USA LLC lifted its stake 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 period. Charles Schwab Investment Management Inc. lifted its stake in Incyte by 29.2% in the third 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 period. Bridgewater Associates LP lifted its stake in Incyte by 142.8% in the third 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 period. Finally, Point72 Europe London LLP acquired a new position in Incyte in the third quarter valued at about $5,975,000. 96.97% of the stock is currently owned by institutional investors.

Insider Activity at Incyte

In other news, EVP Vijay K. Iyengar sold 6,043 shares of the firm's stock in a transaction that occurred 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 approximately $2,311,000.04. This trade represents a 16.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Steven H. Stein sold 12,352 shares of Incyte 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 transaction, the executive vice president now directly owns 66,967 shares in the company, valued at approximately $4,867,831.23. The trade was a 15.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,695 shares of company stock valued at $1,444,356. Insiders own 17.60% of the company's stock.

Incyte Stock Up 0.6 %

INCY stock traded up $0.41 during midday trading on Friday, hitting $70.42. The company's stock had a trading volume of 1,882,071 shares, compared to its average volume of 1,255,658. The company has a market cap of $13.63 billion, a PE ratio of 503.04, a P/E/G ratio of 0.53 and a beta of 0.70. The company has a current ratio of 1.87, a quick ratio of 1.82 and a debt-to-equity ratio of 0.01. The firm's 50-day moving average is $71.26 and its 200-day moving average is $69.18. Incyte Co. has a 12 month low of $50.35 and a 12 month high of $83.95.

Incyte (NASDAQ:INCY - Get Free Report) last posted 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 negative return on equity of 0.63% and a net margin of 0.80%. On average, equities research analysts forecast that Incyte Co. will post 0.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Morgan Stanley increased their price target on Incyte from $64.00 to $69.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 30th. StockNews.com downgraded Incyte from a "strong-buy" rating to a "buy" rating in a report on Wednesday. UBS Group assumed coverage on Incyte in a report on Tuesday, December 17th. They issued a "neutral" rating and a $77.00 price target for the company. Stifel Nicolaus increased their price target on Incyte from $75.00 to $77.00 and gave the stock a "hold" rating in a report on Monday, February 10th. Finally, Oppenheimer increased their price target on Incyte from $81.00 to $82.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $75.59.

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.