Xponance Inc. Has $1.59 Million Stock Holdings in Incyte Co. (NASDAQ:INCY)

Xponance Inc. lowered its position in shares of Incyte Co. (NASDAQ:INCY) by 31.3% in the second quarter, HoldingsChannel reports. The firm owned 26,199 shares of the biopharmaceutical company’s stock after selling 11,909 shares during the period. Xponance Inc.’s holdings in Incyte were worth $1,588,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Cape Investment Advisory Inc. bought a new stake in Incyte during the fourth quarter worth about $25,000. MFA Wealth Advisors LLC bought a new stake in Incyte during the 2nd quarter worth approximately $26,000. Redmont Wealth Advisors LLC acquired a new stake in Incyte during the 1st quarter valued at $28,000. Riverview Trust Co acquired a new stake in Incyte during the 1st quarter valued at $29,000. Finally, Fidelis Capital Partners LLC bought a new position in Incyte in the 1st quarter valued at $32,000. 96.97% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Incyte news, insider Thomas Tray sold 572 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $62.94, for a total value of $36,001.68. Following the completion of the transaction, the insider now directly owns 24,825 shares of the company’s stock, valued at $1,562,485.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Incyte news, EVP Barry P. Flannelly sold 8,148 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $60.00, for a total transaction of $488,880.00. Following the sale, the executive vice president now directly owns 50,534 shares in the company, valued at approximately $3,032,040. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Thomas Tray sold 572 shares of Incyte stock in a transaction that occurred on Thursday, September 12th. The shares were 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 34,047 shares of company stock valued at $2,225,626. 17.50% of the stock is owned by company insiders.

Incyte Stock Performance

Shares of INCY stock opened at $65.13 on Friday. The stock has a 50-day moving average of $64.32 and a 200-day moving average of $59.89. Incyte Co. has a one year low of $50.27 and a one year high of $70.36. The stock has a market cap of $12.54 billion, a PE ratio of 19.74, a price-to-earnings-growth ratio of 5.17 and a beta of 0.73. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.92 and a quick ratio of 1.84.

Incyte (NASDAQ:INCY) last posted its earnings results on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) earnings per share for the quarter, missing the consensus estimate of $0.78 by ($2.60). The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. Incyte had a return on equity of 0.75% and a net margin of 2.52%. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter last year, the business posted $0.77 earnings per share. As a group, sell-side analysts expect that Incyte Co. will post 0.66 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on INCY shares. JMP Securities restated a “market perform” rating on shares of Incyte in a research note on Tuesday, September 17th. Truist Financial restated a “hold” rating and issued a $74.00 price objective (down previously from $83.00) on shares of Incyte in a research report on Wednesday, September 18th. BMO Capital Markets reiterated an “underperform” rating and set a $48.00 target price (down from $52.00) on shares of Incyte in a research report on Tuesday, July 2nd. Citigroup increased their price target on shares of Incyte from $80.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Incyte from $59.00 to $61.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $73.24.

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.