New Age Alpha Advisors LLC Makes New $1.16 Million Investment in Incyte Co. (NASDAQ:INCY)

New Age Alpha Advisors LLC purchased a new stake in Incyte Co. (NASDAQ:INCY) during the 4th quarter, HoldingsChannel reports. The fund purchased 16,742 shares of the biopharmaceutical company’s stock, valued at approximately $1,156,000.

A number of other institutional investors also recently modified their holdings of the business. Norges Bank purchased a new position in Incyte in the 4th quarter valued at approximately $121,890,000. NEOS Investment Management LLC grew its position in shares of Incyte by 35.0% in the fourth quarter. NEOS Investment Management LLC now owns 36,453 shares of the biopharmaceutical company’s stock valued at $2,518,000 after purchasing an additional 9,457 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Incyte by 13.5% during the 4th quarter. JPMorgan Chase & Co. now owns 323,640 shares of the biopharmaceutical company’s stock valued at $22,354,000 after purchasing an additional 38,550 shares during the period. Elo Mutual Pension Insurance Co lifted its holdings in Incyte by 34.8% during the 4th quarter. Elo Mutual Pension Insurance Co now owns 19,501 shares of the biopharmaceutical company’s stock worth $1,347,000 after purchasing an additional 5,039 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Incyte by 5.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 248,875 shares of the biopharmaceutical company’s stock worth $17,329,000 after purchasing an additional 13,026 shares during the period. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Incyte Stock Performance

NASDAQ INCY opened at $60.55 on Tuesday. The company has a 50-day simple moving average of $69.31 and a two-hundred day simple moving average of $70.12. Incyte Co. has a 12-month low of $50.35 and a 12-month high of $83.95. The firm has a market cap of $11.72 billion, a price-to-earnings ratio of 224.27, a PEG ratio of 0.41 and a beta of 0.76. The company has a quick ratio of 1.94, a current ratio of 1.97 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last issued its earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.48). Incyte had a net margin of 0.77% and a return on equity of 0.05%. On average, equities analysts forecast that Incyte Co. will post 4.86 EPS for the current year.

Insider Buying and Selling

In related news, EVP Barry P. Flannelly sold 19,807 shares of the firm’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $67.69, for a total value of $1,340,735.83. Following the sale, the executive vice president now directly owns 33,567 shares of the company’s stock, valued at $2,272,150.23. This trade represents a 37.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Steven H. Stein sold 12,352 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $72.69, for a total value of $897,866.88. Following the transaction, the executive vice president now directly owns 66,967 shares of the company’s stock, valued at $4,867,831.23. The trade was a 15.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 46,827 shares of company stock valued at $3,322,618 over the last three months. 17.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Guggenheim downgraded shares of Incyte from a “buy” rating to a “neutral” rating and set a $92.00 price target on the stock. in a report on Tuesday, March 18th. JMP Securities reissued a “market perform” rating on shares of Incyte in a report on Tuesday, February 11th. Truist Financial decreased their price target on shares of Incyte from $74.00 to $72.00 and set a “hold” rating on the stock in a report on Tuesday, March 18th. Royal Bank of Canada dropped their price objective on Incyte from $70.00 to $68.00 and set a “sector perform” rating for the company in a research note on Tuesday, February 11th. Finally, Wells Fargo & Company upped their target price on Incyte from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Incyte has an average rating of “Hold” and an average price target of $74.88.

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.