Incyte Co. (NASDAQ:INCY) Holdings Trimmed by Quantinno Capital Management LP

Quantinno Capital Management LP reduced its stake in shares of Incyte Co. (NASDAQ:INCY) by 43.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 38,398 shares of the biopharmaceutical company’s stock after selling 29,570 shares during the period. Quantinno Capital Management LP’s holdings in Incyte were worth $2,652,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of INCY. Quintet Private Bank Europe S.A. bought a new stake in Incyte during the fourth quarter worth about $26,000. Global X Japan Co. Ltd. raised its holdings in shares of Incyte by 144.7% during the fourth quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 230 shares during the period. R Squared Ltd acquired a new stake in shares of Incyte during the fourth quarter worth $30,000. Blue Trust Inc. increased its stake in Incyte by 124.6% in the 4th quarter. Blue Trust Inc. now owns 593 shares of the biopharmaceutical company’s stock valued at $39,000 after buying an additional 329 shares during the last quarter. Finally, Bradley & Co. Private Wealth Management LLC acquired a new stake in Incyte in the 4th quarter valued at $42,000. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Incyte Trading Up 2.3%

INCY opened at $65.30 on Wednesday. Incyte Co. has a fifty-two week low of $53.56 and a fifty-two week high of $83.95. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.94. The firm has a market capitalization of $12.64 billion, a price-to-earnings ratio of 241.86, a PEG ratio of 0.41 and a beta of 0.68. The company’s 50 day moving average price is $60.37 and its two-hundred day moving average price is $68.28.

Incyte (NASDAQ:INCY) last posted its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.15. Incyte had a net margin of 0.77% and a return on equity of 0.05%. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $996.17 million. During the same period in the previous year, the firm posted $0.64 EPS. The company’s revenue for the quarter was up 19.5% compared to the same quarter last year. As a group, research analysts predict that Incyte Co. will post 4.86 earnings per share for the current year.

Insider Activity

In other news, EVP Sheila A. Denton sold 599 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $69.99, for a total value of $41,924.01. Following the completion of the sale, the executive vice president now owns 25,848 shares in the company, valued at $1,809,101.52. This represents a 2.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction of $1,340,735.83. Following the completion of the sale, the executive vice president now owns 33,567 shares of the company’s stock, valued at approximately $2,272,150.23. This represents a 37.11% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,475 shares of company stock valued at $2,424,751. 17.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

INCY has been the subject of several research analyst reports. 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 report on Tuesday, March 18th. JMP Securities reissued a “market perform” rating on shares of Incyte in a report on Tuesday, February 11th. William Blair downgraded shares of Incyte from an “outperform” rating to a “market perform” rating in a report on Tuesday, March 18th. Citigroup cut their price objective on shares of Incyte from $97.00 to $88.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. Finally, Guggenheim downgraded shares of Incyte from a “buy” rating to a “neutral” rating and set a $92.00 price objective for the company. in a report on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $73.53.

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.