XTX Topco Ltd Sells 8,990 Shares of Incyte Co. (NASDAQ:INCY)

XTX Topco Ltd cut its stake in shares of Incyte Co. (NASDAQ:INCY - Free Report) by 29.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,057 shares of the biopharmaceutical company's stock after selling 8,990 shares during the quarter. XTX Topco Ltd's holdings in Incyte were worth $1,458,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of INCY. Pacer Advisors Inc. grew its position in Incyte by 17,460.4% in the 2nd quarter. Pacer Advisors Inc. now owns 2,692,182 shares of the biopharmaceutical company's stock valued at $163,200,000 after purchasing an additional 2,676,851 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of Incyte during the third quarter valued at about $156,611,000. Mizuho Securities USA LLC increased its position in shares of Incyte by 13,814.7% during the third quarter. Mizuho Securities USA LLC now owns 2,000,100 shares of the biopharmaceutical company's stock worth $132,207,000 after acquiring an additional 1,985,726 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Incyte by 70.5% in the 2nd quarter. AQR Capital Management LLC now owns 2,661,758 shares of the biopharmaceutical company's stock worth $159,905,000 after acquiring an additional 1,101,041 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its position in Incyte by 28.0% in the 2nd quarter. Acadian Asset Management LLC now owns 3,560,989 shares of the biopharmaceutical company's stock valued at $215,833,000 after acquiring an additional 779,243 shares in the last quarter. 96.97% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Incyte news, EVP Jonathan Elliott Dickinson sold 8,450 shares of the firm's stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $62.36, for a total value of $526,942.00. Following the completion of the transaction, the executive vice president now directly owns 36,390 shares of the company's stock, valued at $2,269,280.40. This trade represents a 18.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Thomas Tray sold 572 shares of the company's stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $62.94, for a total transaction of $36,001.68. Following the completion of the transaction, the insider now directly owns 24,825 shares in the company, valued at approximately $1,562,485.50. The trade was a 2.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,745 shares of company stock worth $1,311,687 in the last quarter. 17.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Citigroup increased their price objective on Incyte from $92.00 to $97.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Oppenheimer increased their price target on Incyte from $81.00 to $82.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. Guggenheim lifted their price objective on shares of Incyte from $86.00 to $92.00 and gave the stock a "buy" rating in a report on Monday, September 16th. The Goldman Sachs Group increased their target price on shares of Incyte from $63.00 to $70.00 and gave the company a "neutral" rating in a report on Wednesday, October 30th. Finally, William Blair restated an "outperform" rating on shares of Incyte in a report on Monday, September 9th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $77.16.

Incyte Stock Performance

Shares of NASDAQ INCY traded down $3.81 during midday trading on Monday, hitting $72.11. The company's stock had a trading volume of 1,758,125 shares, compared to its average volume of 2,347,125. The stock has a fifty day moving average price of $71.86 and a 200 day moving average price of $65.92. The firm has a market capitalization of $13.89 billion, a price-to-earnings ratio of 515.07, a P/E/G ratio of 8.75 and a beta of 0.69. Incyte Co. has a one year low of $50.35 and a one year high of $83.95. 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 posted its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.19 by ($0.12). The company had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.08 billion. Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. The company's revenue was up 23.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.91 EPS. On average, research analysts forecast that Incyte Co. will post 0.4 EPS for the current fiscal year.

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.