Diversified Trust Co Sells 2,926 Shares of Incyte Co. (NASDAQ:INCY)

Diversified Trust Co trimmed its stake in Incyte Co. (NASDAQ:INCY) by 6.5% in the 4th quarter, HoldingsChannel reports. The fund owned 42,265 shares of the biopharmaceutical company’s stock after selling 2,926 shares during the quarter. Diversified Trust Co’s holdings in Incyte were worth $2,919,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Pacer Advisors Inc. raised its holdings in Incyte by 17,460.4% in the second quarter. Pacer Advisors Inc. now owns 2,692,182 shares of the biopharmaceutical company’s stock worth $163,200,000 after purchasing an additional 2,676,851 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Incyte during the 3rd quarter worth approximately $156,611,000. Mizuho Securities USA LLC lifted its position in Incyte by 13,814.7% during the third quarter. Mizuho Securities USA LLC now owns 2,000,100 shares of the biopharmaceutical company’s stock valued at $132,207,000 after acquiring an additional 1,985,726 shares during the last quarter. AQR Capital Management LLC boosted its stake in Incyte by 70.5% in the second quarter. AQR Capital Management LLC now owns 2,661,758 shares of the biopharmaceutical company’s stock valued at $159,905,000 after acquiring an additional 1,101,041 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky grew its holdings in Incyte by 2,486.8% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 394,646 shares of the biopharmaceutical company’s stock worth $23,923,000 after purchasing an additional 379,390 shares during the last quarter. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

INCY has been the subject of several analyst reports. The Goldman Sachs Group increased their price objective on Incyte from $63.00 to $70.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. William Blair reissued an “outperform” rating on shares of Incyte in a report on Friday, December 13th. 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. Cantor Fitzgerald reiterated a “neutral” rating on shares of Incyte in a research note on Tuesday, November 19th. Finally, Royal Bank of Canada upped their price target on shares of Incyte from $72.00 to $80.00 and gave the company a “sector perform” rating in a research note on Thursday, November 14th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $76.29.

Incyte Stock Up 1.8 %

Incyte stock opened at $73.19 on Wednesday. The business’s 50-day moving average price is $73.27 and its 200 day moving average price is $67.42. The company has a quick ratio of 1.82, a current ratio of 1.87 and a debt-to-equity ratio of 0.01. The firm has a market cap of $14.10 billion, a price-to-earnings ratio of 522.82, a price-to-earnings-growth ratio of 7.90 and a beta of 0.71. Incyte Co. has a 52 week low of $50.35 and a 52 week high of $83.95.

Incyte (NASDAQ:INCY) last posted 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 for the quarter, compared to analysts’ expectations of $1.08 billion. During the same period last year, the firm earned $0.91 earnings per share. Incyte’s revenue for the quarter was up 23.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Incyte Co. will post 0.4 earnings per share for the current year.

Insider Buying and Selling at Incyte

In other news, insider Thomas Tray sold 650 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $70.64, for a total value of $45,916.00. Following the completion of the sale, the insider now directly owns 23,962 shares in the company, valued at $1,692,675.68. The trade was a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Vijay K. Iyengar sold 6,043 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $75.38, for a total value of $455,521.34. Following the transaction, the executive vice president now owns 30,658 shares in the company, valued at $2,311,000.04. This trade represents a 16.47 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,023 shares of company stock valued at $839,711. Corporate insiders own 17.60% of the company’s stock.

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.