Dynamic Technology Lab Private Ltd Decreases Stake in Incyte Co. (NASDAQ:INCY)

Dynamic Technology Lab Private Ltd reduced its stake in shares of Incyte Co. (NASDAQ:INCY) by 70.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 5,059 shares of the biopharmaceutical company’s stock after selling 12,350 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Incyte were worth $334,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. MFA Wealth Advisors LLC acquired a new stake in Incyte during the 2nd quarter worth about $26,000. Innealta Capital LLC purchased a new position in shares of Incyte in the second quarter worth about $32,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Incyte during the second quarter worth about $36,000. Deseret Mutual Benefit Administrators boosted its position in Incyte by 37.1% in the second quarter. Deseret Mutual Benefit Administrators now owns 606 shares of the biopharmaceutical company’s stock valued at $37,000 after buying an additional 164 shares during the last quarter. Finally, Cromwell Holdings LLC increased its holdings in Incyte by 101.1% in the 3rd quarter. Cromwell Holdings LLC now owns 563 shares of the biopharmaceutical company’s stock worth $37,000 after buying an additional 283 shares during the period. 96.97% of the stock is owned by hedge funds and other institutional investors.

Incyte Trading Down 1.1 %

Shares of Incyte stock opened at $74.59 on Friday. 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 Co. has a twelve month low of $50.35 and a twelve month high of $83.95. The firm has a market capitalization of $14.37 billion, a PE ratio of 532.82, a P/E/G ratio of 8.70 and a beta of 0.71. The firm’s 50-day moving average price is $70.76 and its 200 day moving average price is $65.17.

Incyte (NASDAQ:INCY) last released its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.19 by ($0.12). Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter last year, the business earned $0.91 EPS. The business’s revenue was up 23.8% compared to the same quarter last year. On average, sell-side analysts predict that Incyte Co. will post 0.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. William Blair reaffirmed an “outperform” rating on shares of Incyte in a report on Monday, September 9th. JMP Securities reaffirmed a “market perform” rating on shares of Incyte in a report on Tuesday, September 17th. Morgan Stanley lifted their price objective on Incyte from $64.00 to $69.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Wells Fargo & Company raised their target price on Incyte from $62.00 to $68.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Finally, Wolfe Research assumed coverage on Incyte in a report on Tuesday, October 1st. They issued an “outperform” rating and a $84.00 price target for the company. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $77.16.

Insiders Place Their Bets

In related news, EVP Jonathan Elliott Dickinson sold 8,450 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $62.36, for a total value of $526,942.00. Following the completion of the sale, the executive vice president now owns 36,390 shares of the company’s stock, valued at approximately $2,269,280.40. This trade represents a 18.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Thomas Tray sold 572 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $62.94, for a total value of $36,001.68. Following the transaction, the insider now directly owns 24,825 shares in the company, valued at $1,562,485.50. This trade represents a 2.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,702 shares of company stock valued at $856,166 in the last 90 days. 17.60% of the stock is owned by insiders.

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.