Sumitomo Mitsui DS Asset Management Company Ltd Sells 683 Shares of Incyte Co. (NASDAQ:INCY)

Sumitomo Mitsui DS Asset Management Company Ltd decreased its position in shares of Incyte Co. (NASDAQ:INCY) by 2.8% during the 3rd quarter, Holdings Channel reports. The fund owned 23,579 shares of the biopharmaceutical company’s stock after selling 683 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Incyte were worth $1,559,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. MFA Wealth Advisors LLC acquired a new stake in Incyte in the second quarter worth $26,000. Redmont Wealth Advisors LLC acquired a new stake in Incyte during the 1st quarter worth $28,000. Riverview Trust Co acquired a new stake in Incyte during the 1st quarter worth $29,000. Innealta Capital LLC bought a new position in Incyte during the second quarter worth about $32,000. Finally, Fidelis Capital Partners LLC acquired a new position in Incyte in the first quarter valued at about $32,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $67.00 price target on shares of Incyte in a research report on Tuesday, September 3rd. BMO Capital Markets reiterated an “underperform” rating and issued a $48.00 price target (down previously from $52.00) on shares of Incyte in a report on Tuesday, July 2nd. Wells Fargo & Company dropped their price objective on shares of Incyte from $63.00 to $62.00 and set an “equal weight” rating on the stock in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Incyte from $55.00 to $60.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Finally, William Blair reissued an “outperform” rating on shares of Incyte in a research note on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $73.21.

Insider Activity at Incyte

In other Incyte news, EVP Vijay K. Iyengar sold 15,571 shares of Incyte stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $70.00, for a total transaction of $1,089,970.00. Following the completion of the transaction, the executive vice president now directly owns 36,701 shares of the company’s stock, valued at $2,569,070. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Thomas Tray sold 572 shares of Incyte stock in a transaction that occurred 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 sale, the insider now directly owns 24,825 shares of the company’s stock, valued at approximately $1,562,485.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Vijay K. Iyengar sold 15,571 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $70.00, for a total value of $1,089,970.00. Following the completion of the transaction, the executive vice president now directly owns 36,701 shares in the company, valued at approximately $2,569,070. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,593 shares of company stock worth $1,652,914. Company insiders own 17.50% of the company’s stock.

Incyte Stock Performance

Shares of INCY opened at $65.27 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.92 and a quick ratio of 1.84. The firm has a 50-day moving average of $64.87 and a 200-day moving average of $61.01. The company has a market cap of $14.66 billion, a PE ratio of 19.78, a price-to-earnings-growth ratio of 5.30 and a beta of 0.73. Incyte Co. has a one year low of $50.27 and a one year high of $70.36.

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