UniSuper Management Pty Ltd Sells 5,179 Shares of Incyte Co. (NASDAQ:INCY)

UniSuper Management Pty Ltd decreased its position in Incyte Co. (NASDAQ:INCY - Free Report) by 16.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,028 shares of the biopharmaceutical company's stock after selling 5,179 shares during the quarter. UniSuper Management Pty Ltd's holdings in Incyte were worth $1,867,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of INCY. Point72 Asset Management L.P. acquired a new position in Incyte in the 3rd quarter valued at $156,611,000. Charles Schwab Investment Management Inc. grew its position in shares of Incyte by 2.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,643,067 shares of the biopharmaceutical company's stock valued at $113,487,000 after purchasing an additional 33,847 shares during the last quarter. Sound Shore Management Inc. CT increased its stake in shares of Incyte by 98.4% in the fourth quarter. Sound Shore Management Inc. CT now owns 1,201,089 shares of the biopharmaceutical company's stock worth $82,959,000 after purchasing an additional 595,741 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Incyte by 7.5% in the fourth quarter. Bank of New York Mellon Corp now owns 1,127,515 shares of the biopharmaceutical company's stock worth $77,877,000 after purchasing an additional 78,827 shares during the period. Finally, Candriam S.C.A. boosted its stake in Incyte by 27.8% during 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. 96.97% of the stock is currently owned by institutional investors and hedge funds.

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Incyte Price Performance

Shares of NASDAQ:INCY traded down $1.88 on Friday, hitting $60.58. The stock had a trading volume of 3,670,885 shares, compared to its average volume of 2,348,296. The firm's 50 day moving average price is $68.41 and its 200-day moving average price is $69.95. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.94 and a current ratio of 1.97. Incyte Co. has a twelve month low of $50.35 and a twelve month high of $83.95. The company has a market capitalization of $11.72 billion, a price-to-earnings ratio of 224.38, a price-to-earnings-growth ratio of 0.41 and a beta of 0.89.

Incyte (NASDAQ:INCY - Get Free Report) last released its quarterly 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%. On average, equities research analysts predict that Incyte Co. will post 4.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on INCY shares. Wells Fargo & Company lifted their price target on Incyte from $68.00 to $70.00 and gave the stock an "equal weight" rating in a research report on Thursday, December 19th. Morgan Stanley dropped their target price on shares of Incyte from $69.00 to $65.00 and set an "equal weight" rating on the stock in a research report on Monday, March 24th. Stifel Nicolaus increased their price target on shares of Incyte from $75.00 to $77.00 and gave the company a "hold" rating in a report on Monday, February 10th. Citigroup dropped their price objective on shares of Incyte from $97.00 to $88.00 and set a "buy" rating on the stock in a report on Tuesday, February 11th. Finally, Truist Financial reduced their target price on shares of Incyte from $74.00 to $72.00 and set a "hold" rating for the company in a research note on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $74.88.

Insider Transactions at Incyte

In other news, EVP Steven H. Stein sold 12,352 shares of the firm's stock in a transaction 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 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 trade represents a 15.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Barry P. Flannelly sold 19,807 shares of Incyte 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 46,827 shares of company stock valued at $3,322,618 in the last three months. 17.60% of the stock is owned by corporate insiders.

About Incyte

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.