Wellington Management Group LLP Has $4.74 Million Stock Position in Incyte Co. (NASDAQ:INCY)

Wellington Management Group LLP lessened its stake in Incyte Co. (NASDAQ:INCY - Free Report) by 59.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 71,730 shares of the biopharmaceutical company's stock after selling 103,098 shares during the quarter. Wellington Management Group LLP's holdings in Incyte were worth $4,741,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of INCY. Haverford Trust Co lifted its stake in Incyte by 1.8% in the 3rd quarter. Haverford Trust Co now owns 7,796 shares of the biopharmaceutical company's stock worth $515,000 after purchasing an additional 135 shares in the last quarter. V Square Quantitative Management LLC grew its position in shares of Incyte by 4.1% in the 3rd quarter. V Square Quantitative Management LLC now owns 3,963 shares of the biopharmaceutical company's stock worth $262,000 after buying an additional 155 shares during the last quarter. Deseret Mutual Benefit Administrators increased its position in Incyte by 37.1% during the 2nd quarter. Deseret Mutual Benefit Administrators now owns 606 shares of the biopharmaceutical company's stock valued at $37,000 after purchasing an additional 164 shares during the period. Ballentine Partners LLC raised its stake in Incyte by 4.0% in the second quarter. Ballentine Partners LLC now owns 4,727 shares of the biopharmaceutical company's stock worth $287,000 after buying an additional 182 shares in the last quarter. Finally, Tectonic Advisors LLC boosted its position in shares of Incyte by 1.6% during the third quarter. Tectonic Advisors LLC now owns 12,390 shares of the biopharmaceutical company's stock valued at $819,000 after purchasing an additional 190 shares in the last quarter. Institutional investors own 96.97% of the company's stock.

Insiders Place Their Bets

In other news, insider Thomas Tray sold 650 shares of the business's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $69.31, for a total transaction of $45,051.50. Following the transaction, the insider now owns 23,312 shares in the company, valued at approximately $1,615,754.72. The trade was a 2.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Vijay K. Iyengar sold 6,043 shares of Incyte stock in a transaction dated 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 in the company, valued at approximately $2,311,000.04. This trade represents a 16.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,023 shares of company stock valued at $839,711 over the last ninety days. Corporate insiders own 17.60% of the company's stock.

Wall Street Analysts Forecast Growth

INCY has been the subject of a number of analyst reports. Guggenheim raised their price objective on Incyte from $86.00 to $92.00 and gave the company a "buy" rating in a research report on Monday, September 16th. Cantor Fitzgerald reaffirmed a "neutral" rating on shares of Incyte in a research report on Tuesday, November 19th. StockNews.com downgraded shares of Incyte from a "strong-buy" rating to a "buy" rating in a research report on Friday. Citigroup boosted their price objective on shares of Incyte from $92.00 to $97.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. upped their target price on shares of Incyte from $65.00 to $71.00 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $76.18.

Incyte Stock Performance

INCY traded down $0.40 on Tuesday, hitting $69.40. 1,971,461 shares of the company's stock were exchanged, compared to its average volume of 2,337,362. The stock has a fifty day moving average of $72.29 and a two-hundred day moving average of $66.48. Incyte Co. has a twelve month low of $50.35 and a twelve month high of $83.95. The firm has a market cap of $13.37 billion, a PE ratio of 495.71, a P/E/G ratio of 8.36 and a beta of 0.69. The company has a current ratio of 1.87, a quick ratio of 1.82 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share for the quarter, missing analysts' consensus estimates of $1.19 by ($0.12). The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.08 billion. Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. The company's revenue for the quarter was up 23.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.91 EPS. On average, research analysts anticipate that Incyte Co. will post 0.4 earnings per share for the current fiscal year.

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.