Swedbank AB Sells 98,722 Shares of Incyte Co. (NASDAQ:INCY)

Swedbank AB lessened its holdings in Incyte Co. (NASDAQ:INCY - Free Report) by 14.8% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 567,424 shares of the biopharmaceutical company's stock after selling 98,722 shares during the period. Swedbank AB owned approximately 0.29% of Incyte worth $39,192,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of INCY. R Squared Ltd purchased a new position in Incyte in the fourth quarter valued at approximately $30,000. Brooklyn Investment Group purchased a new position in shares of Incyte during the 3rd quarter valued at $30,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Incyte in the 3rd quarter worth about $33,000. Cromwell Holdings LLC raised its stake in Incyte by 101.1% in the 3rd quarter. Cromwell Holdings LLC now owns 563 shares of the biopharmaceutical company's stock valued at $37,000 after acquiring an additional 283 shares during the period. Finally, Blue Trust Inc. boosted its position in Incyte by 124.6% during the fourth quarter. Blue Trust Inc. now owns 593 shares of the biopharmaceutical company's stock worth $39,000 after purchasing an additional 329 shares during the period. Hedge funds and other institutional investors own 96.97% of the company's stock.

Wall Street Analysts Forecast Growth

INCY has been the subject of several analyst reports. Cantor Fitzgerald reaffirmed a "neutral" rating on shares of Incyte in a report on Friday, January 10th. Royal Bank of Canada reiterated a "sector perform" rating and set a $70.00 price target on shares of Incyte in a research report on Thursday, January 23rd. JPMorgan Chase & Co. raised their price objective on shares of Incyte from $65.00 to $71.00 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. StockNews.com lowered shares of Incyte from a "strong-buy" rating to a "buy" rating in a report on Friday, December 13th. Finally, Wells Fargo & Company boosted their price target on shares of Incyte from $68.00 to $70.00 and gave the company an "equal weight" rating in a research report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $75.71.

Incyte Trading Down 0.6 %

NASDAQ INCY traded down $0.42 during trading on Monday, hitting $73.74. 692,213 shares of the company's stock traded hands, compared to its average volume of 1,348,423. The stock has a fifty day moving average of $71.83 and a two-hundred day moving average of $68.87. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.87 and a quick ratio of 1.82. Incyte Co. has a 12-month low of $50.35 and a 12-month high of $83.95. The firm has a market cap of $14.21 billion, a P/E ratio of 525.99, a PEG ratio of 0.54 and a beta of 0.71.

Insider Buying and Selling at Incyte

In related news, EVP Vijay K. Iyengar sold 6,043 shares of the company's stock in a transaction on Friday, November 29th. The stock was sold at an average price of $75.38, for a total value of $455,521.34. Following the sale, the executive vice president now directly owns 30,658 shares of the company's stock, valued at $2,311,000.04. This represents a 16.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Thomas Tray sold 650 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $70.64, for a total value of $45,916.00. Following the completion of the transaction, the insider now owns 23,962 shares of the company's stock, valued at approximately $1,692,675.68. This trade represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,375 shares of company stock worth $1,737,578. 17.60% of the stock is currently owned by insiders.

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.