Swiss National Bank Sells 20,800 Shares of Incyte Co. (NASDAQ:INCY)

Swiss National Bank cut its position in Incyte Co. (NASDAQ:INCY - Free Report) by 4.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 462,474 shares of the biopharmaceutical company's stock after selling 20,800 shares during the period. Swiss National Bank owned about 0.24% of Incyte worth $31,943,000 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 INCY. Point72 Asset Management L.P. bought a new stake in shares of Incyte in the 3rd quarter valued at $156,611,000. Charles Schwab Investment Management Inc. raised its position in shares of Incyte by 2.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,643,067 shares of the biopharmaceutical company's stock worth $113,487,000 after purchasing an additional 33,847 shares during the period. Bank of New York Mellon Corp grew its position in shares of Incyte by 7.5% in the 4th quarter. Bank of New York Mellon Corp now owns 1,127,515 shares of the biopharmaceutical company's stock valued at $77,877,000 after purchasing an additional 78,827 shares during the period. Candriam S.C.A. grew its position in shares of Incyte by 27.8% in the 4th quarter. Candriam S.C.A. now owns 1,034,652 shares of the biopharmaceutical company's stock valued at $71,463,000 after purchasing an additional 224,919 shares during the period. Finally, Barclays PLC increased its stake in Incyte by 8.1% during the 3rd quarter. Barclays PLC now owns 1,031,932 shares of the biopharmaceutical company's stock worth $68,208,000 after purchasing an additional 77,542 shares in the last quarter. 96.97% of the stock is owned by institutional investors.

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Insider Transactions at Incyte

In other Incyte news, EVP Barry P. Flannelly sold 19,807 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $67.69, for a total value of $1,340,735.83. Following the transaction, the executive vice president now directly owns 33,567 shares of the company's stock, valued at $2,272,150.23. This represents a 37.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Steven H. Stein sold 12,352 shares of the business's stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $72.69, for a total value of $897,866.88. Following the sale, the executive vice president now owns 66,967 shares of the company's stock, valued at approximately $4,867,831.23. This represents a 15.57 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,827 shares of company stock worth $3,322,618. 17.60% of the stock is owned by insiders.

Incyte Stock Performance

NASDAQ:INCY traded up $1.34 on Friday, hitting $61.92. The company's stock had a trading volume of 4,323,111 shares, compared to its average volume of 2,258,363. The company has a current ratio of 1.97, a quick ratio of 1.94 and a debt-to-equity ratio of 0.01. Incyte Co. has a one year low of $50.35 and a one year high of $83.95. The stock has a fifty day moving average of $70.78 and a two-hundred day moving average of $70.13. The firm has a market capitalization of $11.98 billion, a P/E ratio of 229.34, a price-to-earnings-growth ratio of 0.41 and a beta of 0.76.

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

Wall Street Analyst Weigh In

INCY has been the subject of several research analyst reports. JMP Securities reiterated a "market perform" rating on shares of Incyte in a report on Tuesday, February 11th. Stifel Nicolaus increased their target price on Incyte from $75.00 to $77.00 and gave the stock a "hold" rating in a report on Monday, February 10th. Guggenheim lowered Incyte from a "buy" rating to a "neutral" rating and set a $92.00 price target on the stock. in a report on Tuesday. Wells Fargo & Company increased their price objective on Incyte from $68.00 to $70.00 and gave the stock an "equal weight" rating in a report on Thursday, December 19th. Finally, William Blair lowered Incyte from an "outperform" rating to a "market perform" rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $75.13.

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.