Bryn Mawr Trust Advisors LLC Trims Stock Position in Incyte Corporation $INCY

Bryn Mawr Trust Advisors LLC trimmed its stake in Incyte Corporation (NASDAQ:INCY) by 10.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,298 shares of the biopharmaceutical company’s stock after selling 500 shares during the period. Bryn Mawr Trust Advisors LLC’s holdings in Incyte were worth $293,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Principal Financial Group Inc. increased its holdings in shares of Incyte by 0.7% in the 1st quarter. Principal Financial Group Inc. now owns 213,947 shares of the biopharmaceutical company’s stock worth $12,954,000 after buying an additional 1,419 shares during the last quarter. Cerity Partners LLC grew its position in Incyte by 103.5% in the first quarter. Cerity Partners LLC now owns 132,703 shares of the biopharmaceutical company’s stock worth $8,035,000 after acquiring an additional 67,495 shares in the last quarter. State of Michigan Retirement System increased its stake in Incyte by 0.5% in the first quarter. State of Michigan Retirement System now owns 43,559 shares of the biopharmaceutical company’s stock valued at $2,637,000 after acquiring an additional 200 shares during the last quarter. CWM LLC increased its stake in Incyte by 87.1% in the first quarter. CWM LLC now owns 107,429 shares of the biopharmaceutical company’s stock valued at $6,505,000 after acquiring an additional 50,005 shares during the last quarter. Finally, MQS Management LLC purchased a new stake in Incyte during the first quarter valued at about $237,000. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Piper Sandler upped their price objective on Incyte from $82.00 to $102.00 and gave the stock an “overweight” rating in a report on Tuesday, November 4th. Wells Fargo & Company boosted their target price on Incyte from $89.00 to $97.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Guggenheim upgraded shares of Incyte from a “neutral” rating to a “buy” rating and set a $125.00 price target on the stock in a research report on Monday, November 3rd. Wall Street Zen upgraded shares of Incyte from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 1st. Finally, Oppenheimer cut shares of Incyte from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $92.77.

Incyte Stock Performance

Shares of INCY stock opened at $105.98 on Friday. The company has a market capitalization of $20.81 billion, a P/E ratio of 17.75, a PEG ratio of 0.70 and a beta of 0.74. Incyte Corporation has a fifty-two week low of $53.56 and a fifty-two week high of $106.47. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.78 and a current ratio of 3.20. The stock has a 50 day moving average price of $88.29 and a two-hundred day moving average price of $76.48.

Insiders Place Their Bets

In other Incyte news, EVP Sheila A. Denton sold 598 shares of the firm’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $101.36, for a total value of $60,613.28. Following the sale, the executive vice president owned 26,569 shares of the company’s stock, valued at $2,693,033.84. This trade represents a 2.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lee Heeson sold 3,074 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $94.02, for a total transaction of $289,017.48. Following the completion of the transaction, the executive vice president owned 29,241 shares in the company, valued at $2,749,238.82. The trade was a 9.51% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 4,227 shares of company stock worth $396,327. Insiders own 17.80% of the company’s stock.

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.