Incyte Co. (NASDAQ:INCY) Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP reduced its holdings in shares of Incyte Co. (NASDAQ:INCY) by 55.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,450 shares of the biopharmaceutical company’s stock after selling 6,814 shares during the quarter. Quantbot Technologies LP’s holdings in Incyte were worth $360,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Haverford Trust Co grew its holdings in shares of Incyte by 1.8% during the third quarter. Haverford Trust Co now owns 7,796 shares of the biopharmaceutical company’s stock worth $515,000 after buying an additional 135 shares during the last quarter. V Square Quantitative Management LLC grew its stake in shares of Incyte by 4.1% during the 3rd quarter. V Square Quantitative Management LLC now owns 3,963 shares of the biopharmaceutical company’s stock worth $262,000 after purchasing an additional 155 shares during the period. Deseret Mutual Benefit Administrators grew its holdings in shares of Incyte by 37.1% in the 2nd quarter. Deseret Mutual Benefit Administrators now owns 606 shares of the biopharmaceutical company’s stock worth $37,000 after acquiring an additional 164 shares during the period. Ballentine Partners LLC raised its stake in shares of Incyte by 4.0% during the 2nd quarter. Ballentine Partners LLC now owns 4,727 shares of the biopharmaceutical company’s stock worth $287,000 after buying an additional 182 shares during the last quarter. Finally, Tectonic Advisors LLC raised its position in Incyte by 1.6% during the third quarter. Tectonic Advisors LLC now owns 12,390 shares of the biopharmaceutical company’s stock worth $819,000 after acquiring an additional 190 shares during the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

Wall Street Analysts Forecast Growth

INCY has been the subject of a number of research analyst reports. Wolfe Research began coverage on shares of Incyte in a report on Tuesday, October 1st. They set an “outperform” rating and a $84.00 price objective on the stock. StockNews.com raised shares of Incyte from a “buy” rating to a “strong-buy” rating in a research report on Thursday, November 28th. Truist Financial reissued a “hold” rating and set a $74.00 price target (down previously from $83.00) on shares of Incyte in a research report on Wednesday, September 18th. Oppenheimer increased their target price on Incyte from $81.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Royal Bank of Canada lifted their price target on shares of Incyte from $72.00 to $80.00 and gave the company a “sector perform” rating in a report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $77.16.

Insider Buying and Selling at Incyte

In related news, EVP Jonathan Elliott Dickinson sold 8,450 shares of Incyte stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $62.36, for a total value of $526,942.00. Following the transaction, the executive vice president now directly owns 36,390 shares of the company’s stock, valued at $2,269,280.40. The trade was a 18.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Thomas Tray sold 572 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $62.94, for a total value of $36,001.68. Following the transaction, the insider now owns 24,825 shares in the company, valued at approximately $1,562,485.50. This represents a 2.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,745 shares of company stock valued at $1,311,687 in the last three months. Company insiders own 17.60% of the company’s stock.

Incyte Trading Down 1.7 %

INCY opened at $72.03 on Wednesday. Incyte Co. has a fifty-two week low of $50.35 and a fifty-two week high of $83.95. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.87 and a quick ratio of 1.82. The company’s 50-day moving average is $71.11 and its 200 day moving average is $65.44. The firm has a market capitalization of $13.88 billion, a PE ratio of 514.54, a P/E/G ratio of 8.44 and a beta of 0.69.

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

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.